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Dublin Racing Festival. Home Ireland Dublin Racing Festival. Ts and Cs apply. Gamble responsibly. Honeysuckle extended her unbeaten career record into an 8th race at Leopardstown last year, battling back bravely to beat Petite Mouchoir and Darver Star. Despite his brilliant record at Leopardstown, Willie Mullins' star has run poorly on both his previous visits to the Dublin Racing Festival, finishing seventh in the Deloitte and sixth here last year.

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Nsw tab fixed odds betting systems

Each of these is referred to as a leg with one selection required for each leg. Sport and racing fixed odds options are now permitted in the same Multi. The majority of TAB Sportsbet betting options will be allowed in a TAB Super Multi, however some options will be excluded from either single betting or multiple betting.

If so, TAB will identify single only markets for your information. TAB may also reject a Multi if there is a significant time period from as little as two weeks between two legs in the same bet. TAB Help Centre. Search the Help Center. AU What's New More. Information Title.

When System 1 is marked, individual win bets will be placed on each leg. The Super Multi is also available online at our website. By placing the bet online you will be able to take advantage of a number of additional features which allow you to customise your bet. The computer then automatically splits your investment across all combinations giving you an equal percentage of the dividend for each combination. The Super Multi allows you to add up to five legs of fixed odds thoroughbreds, harness or greys to a bet up to a combined maximum of five 5 legs.

The column on the left indicates the number of selections in your bet whilst the system number along the top is the number of legs you want to take together. From the example, there are six "doubles" or System 2's in a 4 leg bet.

From the example, there are six 'doubles' or System 2's in a 4 leg bet. Only fixed odds racing win bets are able to be included as a racing leg. Betting Bet Types. Can't Find what You're Looking For? For urgent assistance please contact Customer Service on Parimutuel betting systems, also known as "totalisator systems", involve pooling together all the monies wagered on an event, with all dividends being determined by the weight of money bet on each competitor: so the competitor that has attracted the most money will return the smallest dividend, while the least supported horse will return the highest dividend.

The price for each competitor will fluctuate in accordance with the monies wagered and the final dividends will only be settled once the betting market has closed, which coincides with the commencement of the event. This means the odds on any given runner may vary significantly from the time the bet was placed to the final dividend as declared at the close of betting.

The way around this is to take the Fixed Odds betting product, which is offered widely on betting markets by both the TABs and the corporate bookmakers. One way to look at the tote is through a supply and demand lens: If a horse is in great demand, the supply of funds to meet the demand the return will be significantly reduced; if a horse is unwanted in the market, the supply of funds will be greater and therefore the return much higher.

Despite the rise of corporate bookmakers the totes are still very much at the core of wagering here in Australia. In fact, many bookmakers offer tote-based betting products to their customers, especially for exotics. The question of whether to bet with the Tote or whether to take Fixed Odds is not an easy one to answer.

The TABs offer tote prices or Fixed Odds across many betting markets, but their margins are nowhere near as competitive as the bookmakers. As well as offering better margins, bookies are capable of offering special betting products or Tote products that ensure the punter gets the best price across the three totes, which often leads to significant boosts to the return.

It also makes the question of Tote or Fixed Odds harder again as there can be such extraordinary value found in this. Simplest answer: when a Fixed Odds market opens, if you see a horse that looks well over the odds secure the fixed price immediately - if you know anything about racing then there'll likely be others that pick up on it and the horse will continue to be backed until it reaches parity with the tote loosely speaking or its real price as per the majority of punters' expectations.

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One such disadvantage is that professional punters are, in practical terms, obliged to limit the volume of their wagers since a very large bet would effectively "swamp" the return for the particular horse. This would very substantially reduce the pay out, even if the punter were certain of the outcome.

Furthermore, many persons prefer as either a cultural or habitual idiosyncrasy to place bets at fixed odds. This is the traditional betting system offered by bookmakers and has the advantage for the punter that the return, in the event of a win, is fixed. In addition, many punters wish to derive enjoyment from being able to place a bet on a horse at high odds and have the satisfaction of seeing the odds for their selection reduce in the lead up to the race because of "the pressure of money".

The satisfaction gained is that of knowing that their acumen was "ahead of the pack". For these reasons and other reasons illegal starting price off-course bookmakers who operate by telephone have not been completely eliminated, notwithstanding the overall commercial and social success of totalizator systems. It is the object of the present invention to substantially overcome or ameliorate the above mentioned disadvantages by the provision of a fixed odds betting system for punting on the outcome of a race, which system can be expected to be operated by a totalizator agency board, or like legalised entity, so as to return a modest, but consistent, profit to the operating authority.

In accordance with a first aspect of the present invention there is disclosed a method of operating a combined win totalizer and fixed odds betting system for punting on the outcome of a contest between a plurality of contestants, said method comprising:. In accordance with another aspect of the present invention there is disclosed a combined win totalizer and fixed odds betting system for punting on the outcome of a contest between a plurality of contestants, said system comprising:.

A preferred embodiment of the present invention will now be described with reference to the drawing and to the Tables appearing at the rear of the specification in which:. Table II illustrates the calculation of the fixed odds betting FOB dividend based on the initial tote investment,. Table VII shows for a simulated race using actual totalizator data, a comparison between the preferred embodiment of the present invention and a prior art system.

As seen in FIG. As punters can make investments either on the win totalizator, or on fixed odds betting, or both, the term "wager" will be used in respect of monies invested in the win totalizator and the term "bet" will be used in respect of monies invested in the fixed odds betting FOB.

The first step in the operation of the system is to open a substantially conventional win totalizator system many hours before the commencement of a particular race and, during an initial period following the commencement of the tote, to not accept any fixed odds bets. During this period, the monies wagered by punters can be used to form an actual market guide which is then used to frame the fixed odds to be offered. This situation of accepting only tote wagers, and not accepting fixed odds bets is continued until a predetermined target is reached.

It is not essential that this be the way of determining the predetermined target. From this is deducted the commission In Table II, the first column indicates the number allocated to each of the eight runners in the race. The second column indicates the distribution of the initial tote investment amongst the various runners. This investment will be an indication from the punting public of their view of the likely chances of success of various runners. That is to say, Runner 1 has the most money wagered on its behalf and therefore should expect to be the "favourite" while Runner 7 has the least money wagered on its behalf and should therefore be the "outsider".

The numbers in the third column of Table II are now rounded downwardly to the nearest integral number of ten cents so that 3. This figure is then declared to be two things. Firstly, at this stage in the operation of the tote, the figure is the estimated tote dividend for each of the runners based upon the monies wagered to date. In addition, in accordance with the preferred embodiment, the numbers in the fourth column of Table II also constitute the opening fixed odds betting dividend and therefore determine the pay out or dividend to be made on the basis of fixed odds betting which commences at the completion of the calculation which gives rise to Table II.

In this connection it should be understood that for Runner 1, for example, the odds are actually 2. That is, the terminals T are enabled. From now on, the FOB dividends are displayed and the terminals T are able to accept fixed odds bets.

From this investment is deducted the At this stage in order to limit the liability of the operator of the system, the FOB dividend or odds should be revised. This revision is explained in relation to Table IV. It will be seen, in particular, that the same amount has been bet on both runners 6 and 7, notwithstanding that the initial FOB dividend for these two runners is markedly different. The sixth column in Table IV illustrates the FOB liability in the event that the winner of the race should be each of the various runners.

Column 7 in Table IV illustrates the total tote investment which is simply the total of columns two and three in Table IV. The calculation explained in Table V is carried out for each of the eight runners of Table IV, however, it is illustrated in detail only for Runner 7. From column seven of Table IV the total number of winning tote units for Runner 7 is If the calculation outlined in Table V for Runner 7 is carried out for each of the other runners indicated in Table IV, then the numbers indicated in column eight of Table IV are able to be calculated.

This estimated tote dividend is now adopted as the revised FOB dividend in order to bring about two results. The first result is to reflect the fact that the monies bet on FOB as indicated in column five of Table IV are not in the same proportion as the total tote investment wagered as indicated in column seven. This imbalance requires a change in the odds. Furthermore, the odds must be changed in such a way as to ensure that, irrespective of the outcome, the totalizator operating authority does not make a loss.

The above described arrangement ensures that this desirable situation is retained. The above described revision of the FOB dividend is preferably carried out in a series of cycles during the course of the punting leading up to starting time. Naturally, in calculating this revision it is necessary to calculate the total FOB liability on each runner to date. Thus it is necessary to know the total value of bets on each FOB dividend "offered" at the end of each revision cycle.

A revision cycle can be triggered by any one, or if desired, any one or more of, a number of factors. Preferably, these factors can include the total amount invested by punters, the total liability of the FOB betting, the value of FOB bets, the number of FOB bets, the time since FOB betting commenced or changes in excess of a predetermined magnitude between the estimated return as a result of totalizator wagers as compared to the guaranteed return for FOB betting that is if the FOB odds and the totalizator "odds" become different by more than a predetermined amount.

As a consequence of the above, during the course of the betting the FOB dividend changes over time in approximately the same way that the estimated return from totalizator wagering also changes over time. This amounts to "normal betting fluctuations" which occur as a matter of routine in the lead up to a race. In order to protect the totalizator and fixed odds betting authority from loss, it is desirable to limit the maximum amount which can be bet by any one punter.

This also has the advantage of ensuring that if a number of punters wish to bet at the same time, then a number of punters are able to at least place some money on their fancied runner at the desired odds. One way of limiting the size of the maximum available bet is indicated in Table VI and utilises the principle that the maximum available bet should constitute some specified fraction, for example one half, of the maximum amount of money then available at the time the bet is placed.

Table VI is understood to be a calculation carried out at the same time as the calculation in Table V is carried out. This amount of money is the amount which could be paid to a single person betting a large sum of money without incurring any loss by the totalizator operating authority. If this bet should be placed, the pool is slightly increased, however, the FOB liability has been substantially increased, and thus application of the same rule indicates that the next maximum bet allowable would be in the vicinity of half that previously acceptable, i.

This procedure can be applied repeatedly in order to both limit the liability of the totalizator operating authority and also to make it less likely that a particular punter can place all the available bets on a particular runner at a particular offered odds.

The above described procedures are continued in the lead up to the race, however, in accordance with the preferred embodiment, a disabling signal is sent by the central computer C to each of the terminals T in FIG. This therefore closes off the fixed odds betting. However, tote wagering is permitted to continue up and until jump time or actual start time. This allows arbitrage punters time to invest so that the dividend on totalizator wagering becomes very close to the bookmaker's Starting Prices as is presently the case.

This has the practical result of making the totalizator pool the "last" fixed odds bet practically available on every runner and thus the totalizator FOB dividend effectively equates to the "Starting Price dividend" for each selection. In effect this possibility is a price that has to be borne in order to introduce Fixed Odds whilst still guaranteeing a set rate of commission to the operating authority.

In order to minimise this tax anomaly an enhancement to the above described embodiment has been developed. The enhancement involves rounding down the price which is offered to bettors before displaying the Fixed Odds price. Fixed Odds bettors pay a greater rounding premium on their bets in comparison to those making totalizator wagers. This is because some may argue that in the event of the fixed odds dividend falling in the course of operation of the pool, those fixed odds bettors who placed their bet at a high fixed odd dividend relative to the final totalizator dividend are being subsidized to some extent by all those making totalizator wagers.

In effect, the rounding down of Fixed Odds dividend is to the benefit of the totalizator pool. The rounded down Fixed Odd dividends are easily accepted by bettors as they are similar to those rounded down odds offered by traditional bookmakers. The need to refresh dividends i. Novelty searches located after the priority date have disclosed Australian Patent No. This patent discloses a combined totalisator and fixed odds betting system which has not found commercial acceptance and the patent has not been renewed.

The basis of this prior art system differs from that of the present invention in a number of important aspects. Firstly, in the calculation of the tote dividend and the fixed price for each contestant, only a fraction of the tote pool is used. This fraction is termed the "proportion" parameter. There is no equivalent to this parameter in the present invention as the entire tote pool is used in such calculation instead. Again there is no equivalent in the present invention.

Thirdly, in the prior art system it is essential to recalculate the fixed odds prices being offered each time a fixed odds bet is made. This is not the case with the present invention and the substantial computational load imposed by this requirement of the prior art is thereby avoided by the present invention. That's a total of six separate mini bets. Each of these is referred to as a leg with one selection required for each leg. Sport and racing fixed odds options are now permitted in the same Multi.

The majority of TAB Sportsbet betting options will be allowed in a TAB Super Multi, however some options will be excluded from either single betting or multiple betting. If so, TAB will identify single only markets for your information. TAB may also reject a Multi if there is a significant time period from as little as two weeks between two legs in the same bet.

TAB Help Centre. Search the Help Center. AU What's New More. Information Title. When System 1 is marked, individual win bets will be placed on each leg. The Super Multi is also available online at our website. By placing the bet online you will be able to take advantage of a number of additional features which allow you to customise your bet. The computer then automatically splits your investment across all combinations giving you an equal percentage of the dividend for each combination. The Super Multi allows you to add up to five legs of fixed odds thoroughbreds, harness or greys to a bet up to a combined maximum of five 5 legs.

The column on the left indicates the number of selections in your bet whilst the system number along the top is the number of legs you want to take together. From the example, there are six "doubles" or System 2's in a 4 leg bet. From the example, there are six 'doubles' or System 2's in a 4 leg bet. Only fixed odds racing win bets are able to be included as a racing leg. Betting Bet Types. Can't Find what You're Looking For?

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