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AIM OF THE BET
To select the winner and the second horse in the correct order. It is Tote's version of the computer straight forecast or CSF.
RACES ON WHICH POOL IS OPERATED
The toteexacta pool is operated on all races of 3 or more runners unless otherwise stated.
POOL DEDUCTION RATE
UK Tote pools 25% (The net pool is therefore 75% of the gross pool) and Tote Ireland pools 30% (The net pool is therefore 70% of the gross pool).
CALCULATION OF DIVIDENDS
The total of the funds invested plus any funds brought forward form the gross pool. If the gross pool is guaranteed to a particular amount, then this amount forms the gross pool unless the total of the funds invested plus any funds brought forward is greater than the guarantee.
The net pool is divided by the total stakes on the winning toteexacta combination to obtain a calculated dividend. The calculated dividend is then rounded down to the next 10 pence to obtain the payable dividend declared to a £1 stake, with the following exceptions:
(i) If the calculated dividend is less than £1.10, the payable dividend will be £1.10.
(ii) Notwithstanding (i) above, in the case of a dead heat for either 1st or 2nd if the calculated dividend is 60p or below, the payable dividend will be 60p. (See rule on Dead Heats below.)
Holders of winning tickets are then paid in proportion to their stakes.
If the winning toteexacta combination is part-backed, i.e. there is less than £1 of winning tickets in the pool, then the net pool is the calculated dividend. In accordance with the rules above, this is then rounded down to the next 10 pence to obtain the payable dividend to a £1 stake. The balance of the gross pool which has not been won will be carried forward to another race as decided by Tote. The deduction from any pool is only taken at the time the funds are won, so this is added back to the net rollover to be included within a subsequent pool.
If the winning toteexacta combination is not backed, then the entire gross pool will be carried forward to another race as decided by Tote.
Note that any guarantee is disregarded for the purposes of carry-forwards.
VOID/ABANDONED RACES/MEETINGS
If the race is void or abandoned and is not re-run on the same day, the pool will be declared void and all stakes refunded, unless otherwise stated. This is irrespective of whether the race is re-scheduled for a later date or not.
REDUCED FIELD SIZE
If the number of runners in any race falls below 3, the pool will be declared void and all stakes refunded.
MULTIPLE SELECTIONS, BANKERS & PERMUTATIONS
Fixed bankers are permitted and are limited to one per bet. Some outlets also allow floating bankers, again limited to one per bet.
A fixed banker allows you to combine one horse you are confident will finish in first place with any number of other horses to fill second place.
A floating banker allows you to combine one horse you are confident will finish in either of the first two places with any number of other horses to fill the other place.
Reverse exactas (1st and 2nd in either order) and permutations (two from any number of horses to finish in the first two places) are accepted.
INSUFFICIENT FINISHERS
If only 1 horse officially finishes the race, the dividend will be declared on that horse with any other.
If the official result is that there are no finishers, the pool will be declared void and all stakes refunded.
DEAD HEATS
When two or more horses dead-heat for first or second place, the net pool will be divided into as many equal parts as there are winning combinations.
The proportion of the net pool allocated to each winning combination of the toteexacta in the event of a dead-heat is as follows:
2 runners in 1st place
1st(A) + 1st(B) 1/2
1st(B) + 1st(A) 1/2
2 runners in 2nd place
1st + 2nd(A) 1/2
1st + 2nd(B) 1/2
3 runners in 1st place
1st(A) + 1st(B) 1/6
1st(A) + 1st(C) 1/6
1st(B) + 1st(A) 1/6
1st(B) + 1st (C) 1/6
1st(C) + 1st(A) 1/6
1st(C) + 1st(B) 1/6
3 runners in 2nd place
1st + 2nd(A) 1/3
1st + 2nd(B) 1/3
1st + 2nd(C) 1/3
The part of the net pool allocated to each combination is then divided by the total stakes on that combination to obtain a calculated dividend. The calculated dividend is then determined in accordance with the calculation of dividends above.
Holders of winning tickets are then paid in proportion to their stakes.
If a combination involving dead-heating horses is not fully backed, i.e. there is less than £1 of tickets in the pool on that combination, then the net pool assigned to that combination is the calculated dividend. In accordance with the rules above, this is then rounded down to the next 10 pence to obtain the payable dividend to a £1 stake. The balance of the net pool assigned to that combination which has not been won will be carried forward to another race as decided by Tote. The deduction from any pool is only taken at the time the funds are won, so this is added back to the net rollover to be included within a subsequent pool.
Example 12
Suppose we have a toteexacta pool where the net fund available for distribution after the deduction has been removed is £1,000 and there is a dead-heat for 2nd place between two horses, A and B with the following amounts invested on each winning exacta combination:
1st + 2nd(A) £100.00
1st + 2nd(B) £0.90
The net pool is divided into 2 equal parts, and £500 is allocated to each of the two winning combinations.
The £500 allocated to combination '1st + 2nd(A)' is then divided by the £100 of stakes on that combination, so the calculated dividend for that combination is £5.00.
As combination '1st + 2nd(B)' is part-backed, then the £500 allocated to that combination is the calculated dividend.
The total amount paid out on combination '1st + 2nd(B)' is only (0.9 x £500) = £450, so the remaining £50 which has not been won will be carried forward to a subsequent toteexacta pool.
The deduction from any pool is only taken at the time the funds are won, so the 25% deduction is added back to the net funds carried forward. Therefore the gross carry-forward in this example is £50.00 / (1 - 25%) = £66.67.
If a combination involving dead-heating horses is not backed, the portion of the pool assigned to that dead-heating combination will be carried forward to another toteexacta pool. The deduction from any pool is only taken at the time the funds are won, so this is added back to the net rollover to be included within a subsequent pool.
The minimum dividend payable on a toteexacta involving dead-heating horses will be 60 pence.
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