TOTEWIN

AIM OF THE BET
To select the winning horse.

RACES ON WHICH POOL IS OPERATED
The totewin pool is operated on all races of 2 or more runners unless otherwise stated.

POOL DEDUCTION RATE
UK Tote pools 19.25% (The net pool is therefore 80.75% of the gross pool) and Tote Ireland pools 20% (The net pool is therefore 80% 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 winner of the race 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 90p and less than £1.10, the payable dividend will be £1.10.
(ii)   If the calculated dividend is 90p or below, the payable dividend will be £1.02.
(iii)  Notwithstanding (i) and (ii) above, in the case of a dead heat for first place 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 horse is part backed, i.e. there is less than £1 of winning tickets in the pool, 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.

Example 1
Suppose we have a totewin pool where the net fund available for distribution after the deduction has been removed is £1,000 and the total amount invested on the winning horse is £0.80.
As the winning horse is part-backed, then the net pool of £1,000 is the calculated dividend.
The total amount paid out on the winning horse is only (0.80 x £1,000) = £800, so the remaining £200 which has not been won will be carried forward to a subsequent totewin pool.
The deduction from any pool is only taken at the time the funds are won, so the 19.25% deduction is added back to the net funds carried forward. Therefore the gross carry-forward in this example is £200.00 / (1 - 19.25%) = £247.68.
If the winning horse 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.

WALKOVERS/VOID/ABANDONED RACES/MEETINGS
If the race is a walkover, or is void, or is 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.

MULTIPLE SELECTIONS
Multiple selections on the same slip are accepted.

NO FINISHERS
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 place, the net pool will be divided into as many equal parts as there are dead-heating runners. 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.
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 carried forward to another totewin pool 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 2
Suppose we have a totewin pool where the net fund available for distribution after the deduction has been removed is £1,000 and there is a dead-heat for first place between two horses, A and B with the following amounts invested on each:
A £100.00
B £0.90
The net pool is divided into 2 equal parts, and £500 is allocated to each of horses A and B.
The £500 allocated to horse A is then divided by the £100 of stakes on that runner, so the calculated dividend for horse A is £5.00.
As horse B is part-backed, the £500 allocated to that horse is the calculated dividend.
The total amount paid out on horse B is only (0.90 x £500) = £450, so the remaining £50 which has not been won will be carried forward to a subsequent totewin pool.
The deduction from any pool is only taken at the time the funds are won, so the 19.25% deduction is added back to the net funds carried forward.
Therefore the gross carry-forward in this example is £50.00 / (1 - 19.25%) = £61.92.

If a dead-heating horse is not backed, the portion of the pool assigned to that dead-heating horse will be carried forward to another totewin 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 totewin bet involving dead-heating horses will be 60 pence.