Fixed odds betting allows you to lock in a specific price on a horse at the exact moment you place your wager. Unlike Tote betting, if you take the available price when striking your bet your potential payout does not fluctuate regardless of how much money is later bet on that horse unless there is a late scratching or your horse is involved in a dead heat.
Win Bets
- Objective: Select the horse that finishes first.
- Payout: Calculated by multiplying your stake by the fixed price taken unless you specify to have the bet settled at the starting price which is determined shortly after the race has finished.
Place Bets
- Objective: Select a horse to finish within the designated top positions.
- South African Bookmaker Place Rules: The number of payout places depends directly on the number of runners that actually start the race (final fields):
|
Number of Runners |
Places Paid |
|
1 to 4 Runners |
Win Only |
|
5 to 7 Runners |
2 Places |
|
8 to 15 Runners |
3 Places |
|
16 or More Runners |
4 Places |
- Scratchings Impact: If scratchings drop the runner count below a threshold, the bookmaker's place terms may adjust down dynamically, see the table below
Where a horse is withdrawn before coming under starter's orders, or is officially deemed by the starter to have taken no part in the race, then stakes will be returned on the withdrawn horse and winning bets will be subject to a deduction. The rate of deduction will be based on the price of the withdrawn horse at the time of its withdrawal on the following scale:
ODDS DEDUCTION
22/1 & Bigger No Deduction
13/1 to 20/1 5%
9/1 to 12/1 10%
6/1 to 8/1 15%
15/4 to 11/2 20%
3/1 to 7/2 25%
22/10 to 28/10 30%
16/10 to 2/1 35%
13/10 to 15/10 40%
11/10 to 12/10 45%
19/20 to 1/1 50%
15/20 to 9/10 55%
11/20 to 7/10 60%
9/20 to 5/10 65%
4/10 70%
1/3 & Shorter 80%
· Dead-Heats: In the case of a two horses/contestants dead heat in races other than “match races” the punter shall lose half of the odds in the event where the dead heat occurs, and further lose half of the amount staked, the entire bet is then recalculated as a result of the event where the dead heat occurred. In summary you get half the odds to half your stake.