|
AIM OF THE BET
To select 2 horses to finish in any of the first 3 places.
RACES ON WHICH POOL IS OPERATED
The toteswinger pool is operated on all races of 6 or more declared runners unless otherwise stated.
POOL DEDUCTION RATE
UK Tote 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.
If the number of actual runners is 6 or more, even in handicaps of 16 or more runners, there will be 3 winning combinations:
Combination 1: 1st + 2nd (in either order)
Combination 2: 1st + 3rd (in either order)
Combination 3: 2nd + 3rd (in either order)
One-third of the net pool will be allocated to each combination. The part of the net pool allocated to each winning combination is then divided by the total stakes on that combination to obtain a calculated dividend for each combination.
If the number of actual runners is reduced to only 4 or 5, then there is only one winning combination:
1st & 2nd (in either order)
In this case the entire net pool is divided by the total stakes on that 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 greater than 70p and less than £1.10, the payable dividend will be £1.10.
(ii) If the calculated dividend is 70p or below, the payable dividend will be £1.02.
(iii) Notwithstanding (i) and (ii) above, if as a result of a dead-heat the proportion of the net pool allocated to any winning combination is reduced from one-third in the case of 6 or more runners, or reduced from the entire net pool in the case of 4 or 5 runners, should the calculated dividend be 50p or below, the minimum dividend payable on such a combination will be 50p. (See rule on Dead Heats below.)
Holders of winning tickets are then paid in proportion to their stakes.
In the event of (ii) above, i.e. if the calculated dividend falls below 70p, money will be taken from the remaining winning combinations in equal shares to ensure that the minimum calculated dividend on any combination is not less than 70p.
Example 8
Suppose we have a toteswinger pool where the net fund available for distribution after the deduction has been removed is £12,000.
Then the net pool initially allocated to each winning combination = (£12,000 / 3) = £4,000.
Suppose the total amounts invested on the 3 winning combinations are:
1st + 2nd: £1,000
1st + 3rd: £500
2nd + 3rd: £8,000
Therefore the calculated dividends on the 3 winning combinations would be:
1st + 2nd: £4.00
1st + 3rd: £8.00
2nd + 3rd: £0.50
The calculated dividend for the combination '2nd + 3rd' is less than 70p. Therefore money will be taken from the net pool on the remaining winning combinations in equal shares to ensure that the minimum calculated dividend on any winning combination is not less than 70p.
The net pool which must be allocated to the combination '2nd + 3rd' to increase the calculated dividend to 70p is (£8,000 x 0.70) = £5,600. This means an additional (£5,600 - £4,000) = £1,600 will be taken from the net pool on the other 2 winning combinations in equal shares, i.e. £800 from each of those other 2 winning combinations. So the revised net pool allocated to each winning combination is now as follows:
1st + 2nd: £4,000 - £800 = £3,200
1st + 3rd: £4,000 - £800 = £3,200
2nd + 3rd: £4,000 + £1,600 = £5,600
The calculated dividend on each winning combination is now:
1st + 2nd: £3,200 / £1,000 = £3.20
1st + 3rd: £3,200 / £500 = £6.40
2nd + 3rd: £5,600 / £8,000 = £0.70
So the declared dividends will be:
1st + 2nd: £3.20
1st + 3rd: £6.40
2nd + 3rd: £1.02
Example 9
Suppose once again we have a toteswinger pool where the net fund available for distribution after the deduction has been removed is £12,000.
Then the net pool initially allocated to each winning combination = (£12,000 / 3) = £4,000.
Suppose the total amounts invested on the 3 winning combinations are:
1st + 2nd: £5,000
1st + 3rd: £100
2nd + 3rd: £8,000
(Note: The total amount of winning units can be greater than the net pool due to the deduction.)
The calculated dividends on the 3 winning combinations would be:
1st + 2nd: £0.80
1st + 3rd: £40.00
2nd + 3rd: £0.50
The calculated dividend for the combination '2nd + 3rd' is less than 70p. Therefore money will be taken from the net pool on the remaining winning combinations in equal shares to ensure that the minimum calculated dividend on any winning combination is not less than 70p.
The net pool which must be allocated to the combination '2nd + 3rd' to increase the calculated dividend to 70p is (£8,000 x 0.70) = £5,600. This means an additional (£5,600 - £4,000) = £1,600 will be taken from the net pool on the other winning combinations in equal shares, i.e. £800 from each of those other 2 winning combinations. So the revised net pool allocated to each winning combination is now as follows:
1st + 2nd: £4,000 - £800 = £3,200
1st + 3rd: £4,000 - £800 = £3,200
2nd + 3rd: £4,000 + £1,600 = £5,600
The calculated dividend on each winning combination is now:
1st + 2nd: £3,200 / £5,000 = £0.64
1st + 3rd: £3,200 / £100 = £32.00
2nd + 3rd: £5,600 / £8,000 = £0.70
The calculated dividend for the combination '1st + 2nd' has now fallen below 70p. Therefore money must be taken from the net pool on the other remaining winning combination, i.e. the combination '1st + 3rd', to ensure that the minimum calculated dividend on any winning combination is not less than 70p.
The net pool which must be allocated to combination '1st + 2nd' to increase the calculated dividend to 70p is (£5,000 x 0.70) = £3,500. This means an additional (£3,500 - £3,200) = £300 will be taken from the net pool on the combination '1st + 3rd'. So the revised net pool allocated to each winning combination is now as follows:
1st + 2nd: £3,200 + £300 = £3,500
1st + 3rd: £3,200 - £300 = £2,900
2nd + 3rd: £5,600
The calculated dividend on each winning combination is now:
1st + 2nd: £3,500 / £5,000 = £0.70
1st + 3rd: £2,900 / £100 = £29.00
2nd + 3rd: £5,600 / £8,000 = £0.70
So the declared dividends will be:
1st + 2nd: £1.02
1st + 3rd: £29.00
2nd + 3rd: £1.02
If a combination is part backed, i.e. there is less than £1 of tickets in the pool on a 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 9
Suppose we have a toteswinger pool where the net fund available for distribution after the deduction has been removed is £3,000.
Then the net pool allocated to each winning combination = (£3,000 / 3) = £1,000.
Suppose the total amounts invested on the 3 winning combinations are:
1st + 2nd: £100.00
1st + 3rd: £50.00
2nd + 3rd: £0.60
The calculated dividends for the winning combinations '1st + 2nd' and '1st + 3rd' are £10.00 and £20.00 respectively.
As the combination '2nd + 3rd' is part-backed, the net pool of £1,000 is the calculated dividend for that combination.
The total amount paid out on that combination is only (0.6 x £1,000) = £600, so the remaining £400 which has not been won will be carried forward to a subsequent toteswinger pool.
The deduction from any pool is only taken at the time the funds are won, so the 30% deduction is added back to the net funds carried forward. Therefore the gross carry-forward in this example is £400.00 / (1 - 30%) = £571.43.
If a combination is not backed, then the net pool assigned to that combination 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.
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-ran 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 is reduced to 4 or 5, a dividend will only be paid in respect of the first and second placed horses in either order.
If the number of runners in any race falls below 4, the pool will be declared void and all stakes refunded.
MULTIPLE SELECTIONS, BANKERS & PERMUTATIONS
Bankers are permitted and are limited to one per bet. A banker toteswinger allows you to combine one horse you are confident will finish in the first three places with any number of other horses.
Permutations are accepted.
INSUFFICIENT FINISHERS
If only 2 horses officially finish the race, a dividend will only be declared on the first and second in either order. If this combination has not been backed then the pool will be carried forward to another race as decided by Tote.
If only 1 horse officially finishes the race, a dividend will be declared on that horse with any other. This will be the only dividend declared. If that winning horse has not been included within any of the combinations backed, then the pool will be carried forward to another race as decided by Tote.
DEAD HEATS
In the case of 6 or more runners:
Where 2 horses dead-heat for 1st place, the winning combinations will be any 2 of the first 3 finishers.
Where 3 horses dead-heat for 1st place, the winning combinations will be any 2 of the first 3 finishers.
Where 2 horses dead-heat for 2nd place, the winning combinations will be any 2 of the first 3 finishers.
Where 3 horses dead-heat for 2nd place, the winning combinations will be 1st with any one of the dead-heating runners; and any 2 of the 3 dead-heating runners.
Where 2 horses dead-heat for 3rd place, the winning combinations will be 1st and 2nd; 1st with either of the dead-heating runners; and 2nd with either of the dead-heating runners.
Where 3 horses dead-heat for 3rd place, the winning combinations will be 1st and 2nd; 1st with any one of the dead-heating runners; and 2nd with any one of the dead-heating runners.
Where 2 horses dead-heat for 1st place and 2 horses dead-heat for 3rd place, the winning combinations will be the two runners which dead-heated for first; and either runner which dead-heated for 1st with either runner which dead-heated for 3rd.
In the case of only 4 or 5 runners:
Where 2 horses dead-heat for 1st place, the winning combination will be those two runners.
Where 3 horses dead-heat for 1st place, the winning combinations will be any 2 of those 3 runners.
Where 2 or more horses dead-heat for 2nd place, the winning combinations will be 1st with any one of the dead-heating runners.
If there is a two-way dead-heat for 1st place, then there will still be only one dividend payable for selecting the first two finishers. If there is a dead-heat for 2nd place or a dead-heat involving 3 or more horses for 1st place, the dividend will be calculated by apportioning the net pool in equal parts for each winning combination.
Here is a comprehensive list showing the proportion of the net pool allocated to each winning combination of the toteswinger in the event of a dead-heat:
In the case of 6 or more runners:
2 runners in 1st place
1st(A) + 1st(B) 1/3
1st(A) + 3rd 1/3
1st(B) + 3rd 1/3
3 runners in 1st place
1st(A) + 1st(B) 1/3
1st(A) + 1st(C) 1/3
1st(B) + 1st(C) 1/3
2 runners in 1st place, 2 runners in 3rd place
1st(A) + 1st(B) 1/3
1st(A) + 3rd(A) 1/6
1st(A) + 3rd(B) 1/6
1st(B) + 3rd(A) 1/6
1st(B) + 3rd(B) 1/6
2 runners in 1st place, 3 runners in 3rd place
1st(A) + 1st(B) 1/3
1st(A) + 3rd(A) 1/9
1st(A) + 3rd(B) 1/9
1st(A) + 3rd(C) 1/9
1st(B) + 3rd(A) 1/9
1st(B) + 3rd(B) 1/9
1st(B) + 3rd(C) 1/9
2 runners in 2nd place
1st + 2nd(A) 1/3
1st + 2nd(B) 1/3
2nd(A) + 2nd(B) 1/3
3 runners in 2nd place
1st + 2nd(A) 2/9
1st + 2nd(B) 2/9
1st + 2nd(C) 2/9
2nd(A) + 2nd(B) 1/9
2nd(B) + 2nd(C) 1/9
2nd(C) + 2nd(A) 1/9
2 runners in 3rd place
1st + 2nd 1/3
1st + 3rd(A) 1/6
1st + 3rd(B) 1/6
2nd + 3rd(A) 1/6
2nd + 3rd(B) 1/6
3 runners for 3rd place
1st + 2nd 1/3
1st + 3rd(A) 1/9
1st + 3rd(B) 1/9
1st + 3rd(C) 1/9
2nd + 3rd(A) 1/9
2nd + 3rd(B) 1/9
2nd + 3rd(C) 1/9
In the case of only 4 or 5 runners:
2 runners in 1st place
1st(A) + 1st(B) 1/1
3 runners in 1st place
1st(A) + 1st(B) 1/3
1st(A) + 1st(C) 1/3
1st(B) + 1st(C) 1/3
2 runners in 2nd place
1st + 2nd(A) 1/2
1st + 2nd(B) 1/2
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.
If a combination involving dead-heating horses is not backed, the net pool assigned to that dead-heating 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.
In the event of a dead-heat, if money within the toteswinger should be transferred between the winning combinations in order to increase a calculated dividend to a specific minimum threshold, then the funds transferred from any winning combination will be proportioned in the same ratio as the allocation of funds in the event of a dead heat as shown in the table above.
Example 11
Suppose we have a two-way dead heat for 3rd place in a race of 6 or more runners, where:
combination '1st + 3rd(A)' is part-backed;
all other winning combinations are fully backed;
the balance of the net pool not won on the part-backed combination is £500.
The £500 needs to be re-distributed amongst the other winning combinations which have been fully backed.
From the table above, the proportion of the net pool allocated to each winning combination is:
1st + 2nd 1/3
1st + 3rd(A) 1/6
1st + 3rd(B) 1/6
2nd + 3rd(A) 1/6
2nd + 3rd(B) 1/6
So each of the three combinations involved a dead-heating horse which have been fully backed will be allocated half as much as the combination involving the first two horses, i.e. the £500 not won from the combination '1st + 3rd(A)' will be allocated as follows:
1st + 2nd £200
1st + 3rd(B) £100
2nd + 3rd(A) £100
2nd + 3rd(B) £100
The minimum dividend payable on a toteswinger bet involving dead-heating horses will be 50 pence.
|
|