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AIM OF THE BET
To select a placed horse.
The finishing positions which constitute a place in any race, unless otherwise stated, are as follows:
2 - 4 runners 1st
5 - 7 runners 1st & 2nd
8 - 15 runners 1st, 2nd & 3rd
Non-handicap of 16 or more runners 1st, 2nd & 3rd
Handicap of 16 or more runners 1st, 2nd, 3rd & 4th
RACES ON WHICH POOL IS OPERATED
The toteplace pool is operated on all races of 5 or more runners unless otherwise stated.
POOL DEDUCTION RATE
UK Tote pools 20% (The net pool is therefore 80% of the gross pool) and Tote Ireland pools 25% (The net pool is therefore 75% 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 number of places payable on the race as defined above, i.e. 2, 3 or 4, in equal proportion. The part of the net pool allocated to each place is then divided by the total stakes on that placed horse to obtain a calculated dividend for each place. The calculated dividend is 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, in the case of a dead heat if the calculated dividend is 50p or below, the minimum payable dividend 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 net pool on the remaining placed horses in equal shares to ensure that the minimum calculated dividend on any placed horse is not less than 70p.
Example 3
Suppose we have a toteplace pool where the net fund available for distribution after the deduction has been removed is £12,000, and there are 3 places payable.
Then the net pool initially allocated to each placed horse = (£12,000 / 3) = £4,000.
Suppose the total amounts invested on the 3 placed horses are:
1st placed horse: £1,000
2nd placed horse: £500
3rd placed horse: £8,000
Therefore the calculated dividends on the 3 placed horses would be:
1st placed horse: £4.00
2nd placed horse: £8.00
3rd placed horse: £0.50
The calculated dividend for the 3rd placed horse is less than 70p. Therefore money will be taken from the net pool on the remaining placed horses in equal shares to ensure that the minimum calculated dividend on any placed horse is not less than 70p.
The net pool which must be allocated to the 3rd placed horse 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 placed horses in equal shares, i.e. £800 from each of those other 2 placed horses. So the revised net pool allocated to each placed horse is now as follows:
1st placed horse: £4,000 - £800 = £3,200
2nd placed horse: £4,000 - £800 = £3,200
3rd placed horse: £4,000 + £1,600 = £5,600
The calculated dividend on each placed horse is now:
1st placed horse: £3,200 / £1,000 = £3.20
2nd placed horse: £3,200 / £500 = £6.40
3rd placed horse: £5,600 / £8,000 = £0.70
So the declared dividends will be:
1st placed horse: £3.20
2nd placed horse: £6.40
3rd placed horse: £1.02
Example 4
Suppose once again we have a toteplace pool where the net fund available for distribution after the deduction has been removed is £12 ,000, and there are 3 places payable.
Then the net pool initially allocated to each placed horse = (£12,000 / 3) = £4,000.
Suppose the total amounts invested on the 3 placed horses are:
1st placed horse: £5,000
2nd placed horse: £100
3rd placed horse: £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 placed horses would be:
1st placed horse: £0.80
2nd placed horse: £40.00
3rd placed horse: £0.50
The calculated dividend for the 3rd placed horse is less than 70p. Therefore money will be taken from the net pool on the remaining placed horses in equal shares to ensure that the minimum calculated dividend on any placed horse is not less than 70p.
The net pool which must be allocated to the 3rd placed horse 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 placed horses in equal shares, i.e. £800 from each of those other 2 placed horses. So the revised net pool allocated to each placed horse is now as follows:
1st placed horse: £4,000 - £800 = £3,200
2nd placed horse: £4,000 - £800 = £3,200
3rd placed horse: £4,000 + £1,600 = £5,600
The calculated dividend on each runner is now:
1st placed horse: £3,200 / £5,000 = £0.64
2nd placed horse: £3,200 / £100 = £32.00
3rd placed horse: £5,600 / £8,000 = £0.70
The calculated dividend for the 1st placed horse has now fallen below 70p. Therefore further money must be taken from the net pool on the other remaining placed horse, i.e. the 2nd placed horse, to ensure that the minimum calculated dividend on any placed horse is not less than 70p.
The net pool which must be allocated to the 1st placed horse 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 2nd placed horse. So the revised net pool allocated to each placed horse is now as follows:
1st placed horse: £3,200 + £300 = £3,500
2nd placed horse: £3,200 - £300 = £2,900
3rd placed horse: £5,600
The calculated dividend on each placed horse is now:
1st placed horse: £3,500 / £5,000 = £0.70
2nd placed horse: £2,900 / £100 = £29.00
3rd placed horse: £5,600 / £8,000 = £0.70
So the declared dividends will be:
1st placed horse: £1.02
2nd placed horse: £29.00
3rd placed horse: £1.02
If a placed horse is part-backed, i.e. there is less than £1 of tickets in the pool on a placed horse, then the net pool assigned to that placed horse 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 placed horse which has not been won will be divided in equal proportion between the remaining placed horses which have been fully backed.
Example 5
Suppose we have a toteplace pool where the net funds available for distribution after the deduction has been removed is £3,000, and there are 3 places payable.
Then the net pool initially allocated to each placed horse = (£3,000 / 3) = £1,000.
Suppose the total amounts invested on the 3 placed horses are:
1st placed horse: £500.00
2nd placed horse: £100.00
3rd placed horse: £0.40
The 3rd placed horse is part backed, so only £400 of the £1,000 allocated to that horse will be paid out on that horse. The balance of £600 will be divided in equal proportion between the other horses which have been fully backed, so an additional £300 will be allocated to each of the 1st and 2nd placed horses.
So the revised net pool allocated to each placed horse is now as follows:
1st placed horse: £1,000 + £300 = £1,300
2nd placed horse: £1,000 + £300 = £1,300
3rd placed horse: £1,000 - £600 = £400
The calculated dividend on each runner is now:
1st placed horse: £1,300 / £500.00 = £2.60
2nd placed horse: £1,300 / £100.00 = £13.00
3rd placed horse: £400 / £0.40 = £1,000.00
If a placed horse is not backed, the portion of the net pool assigned to that placed horse will be divided in equal proportion between the remaining placed horses which have been fully backed.
If none of the placed horses are fully backed, the balance of the gross pool assigned to each placed horse 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 none of the placed horses are backed, 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-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 falls below 5, then the pool will be declared void and all stakes refunded.
MULTIPLE SELECTIONS
Multiple selections on the same slip are accepted.
INSUFFICIENT FINISHERS
If the official number of finishers is fewer than the number of standard places in any race, then only the runners which finish will be deemed to have been placed. The net pool will be divided by the number of finishers rather than being divided by the number of places that were originally payable on the race.
DEAD HEATS
If two or more horses dead heat for the final position which constitutes a place, a dividend is paid on each of those dead-heating horses. The amount of the pool allocated to that place is divided equally between the dead-heating horses.
If three or more horses dead heat for the penultimate position which constitutes a place, e.g. 3rd place in a race where 4 places are payable, a dividend is paid on each of those dead-heating horses. The total amount of the pool allocated to the final two places is divided equally between the dead-heating horses.
The proportion of the net pool allocated to each placed horse in the event of a dead-heat is as follows:
2 places, 2 runners in 1st place
1st(A) 1/2
1st(B) 1/2
2 places, 2 runners in 2nd place
1st 1/2
2nd(A) 1/4
2nd(B) 1/4
2 places, 3 runners in 1st place
1st(A) 1/3
1st(B) 1/3
1st(C) 1/3
2 places, 3 runners in 2nd place
1st 1/2
2nd(A) 1/6
2nd(B) 1/6
2nd(C) 1/6
3 places, 2 runners in 3rd place
1st 1/3
2nd 1/3
3rd(A) 1/6
3rd(B) 1/6
3 places, 3 runners in 2nd place
1st 1/3
2nd(A) 2/9
2nd(B) 2/9
2nd(C) 2/9
3 places, 3 runners in 3rd place
1st 1/3
2nd 1/3
3rd(A) 1/9
3rd(B) 1/9
3rd(C) 1/9
4 places, 2 runners in 4th place
1st 1/4
2nd 1/4
3rd 1/4
4th(A) 1/8
4th(B) 1/8
4 places, 3 runners in 3rd place
1st 1/4
2nd 1/4
3rd(A) 1/6
3rd(B) 1/6
3rd(C) 1/6
4 places, 3 runners in 4th place
1st 1/4
2nd 1/4
3rd 1/4
4th(A) 1/12
4th(B) 1/12
4th(C) 1/12
The part of the net pool allocated to each dead-heating horse is divided by the total stakes on that runner to obtain a calculated dividend for each dead-heating horse. 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.
In the event of a dead heat, if the calculated dividend of a horse involved in that dead heat is 50p or below, the dividend declared will be 50p and no money will be taken from the net pool allocated to any of the remaining placed horses to increase the calculated dividend.
If a dead-heating horse is part-backed, i.e. there is less than £1 of tickets in the pool on that horse, the net pool assigned to that horse 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 dead-heating horse which has not been won will be divided between all the placed horses which have been fully backed, and will be allocated in equal shares with the exception of the other dead-heating horse(s) for which the funds will be apportioned as stated in the dead-heat rule below.
If a dead-heating horse is not backed, then the net pool assigned to that dead-heating horse which has not been won will be divided between the remaining placed horses which have been fully backed, and will be allocated in equal shares with the exception of the other dead-heating horse(s) for which the funds will be apportioned as stated in the dead-heat rule below.
In the event of a dead-heat, if money within the toteplace pool should be transferred between the placed horses, either to increase a calculated dividend to a specific minimum threshold or to re-assign funds from a placed horse which has not been fully backed to the remaining placed horses which have been fully backed, then the funds transferred to or transferred from a placed horse 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 6
Suppose we have a two-way dead heat for 3rd place with 3 places payable in the toteplace pool, where:
the 1st placed horse is part backed;
the 2nd placed horse and the two dead-heating 3rd placed horses are fully backed;
the balance of the net pool not won on the first placed horse is £1,000.
The £1,000 needs to be redistributed amongst the other placed horses which have been fully backed. Those are the 2nd, 3rd(A) and 3rd(B).
From the table above, the proportion of the net pool allocated to each placed horse is:
1st 1/3
2nd 1/3
3rd(A) 1/6
3rd(B) 1/6
So each of the two dead heating horses will be allocated half as much as the 2nd placed horse, i.e. the 2nd placed horse will be allocated £500 and each of the two dead-heating horses will be allocated £250.
Example 7
Suppose we have a triple dead heat for 2nd place with 3 places payable in the toteplace pool, where:
one of the horses which triple dead-heats for second place is part-backed;
all the remaining placed horses are fully backed;
the balance of the net pool not won on that part-backed dead-heating horse is £700.
The £700 needs to be re-distributed amongst the other placed horses which have been fully backed. Those are the 1st, 2nd(A) and 2nd(B).
From the table above, the proportion of the net pool allocated to each placed horse is:
1st 1/3
2nd(A) 2/9
2nd(B) 2/9
2nd(C) 2/9
So each of the two dead-heating horses which have been fully backed will be allocated two-thirds as much as the 1st placed horse, i.e. the 1st placed horse will be allocated £300 and each of the two dead-heating horses will be allocated £200.
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