In most cases, you will receive the full payout for your fixed odds racing wager placed. The fixed odds price is subject to change due to deductions caused by late scratchings and dead heats.
If another horse or greyhound is scratched after you place your fixed price wager on your runner, then your wager payout may be subject to a ‘deduction’.
All wagers on the scratched runner are returned to all clients who backed it. The deduction amount applied to other fixed price wagers is then calculated using the fixed price of the scratched runner at the time of the scratching.
Deductions are calculated on the face value of your entire ticket. Using the above example, the face value of the ticket is $50.00 ($10.00 placed on at odds of $5.00).
The more fancied the runner, the larger the deduction applied. You can find a Deduction Table under Rule 5 of the Racing Rules in the Terms & Conditions.
Some examples - if the scratched runner’s price was over $26.00, there is no deduction. If the runner’s fixed price was $10.00, then there is a 9% deduction on the win payout (and 12% on the place payout if you backed your runner for the place).
So sticking with an expected $50.00 payout, if another runner at a price of $10.00 was then scratched (9% deduction on the win), your adjusted payout will be:
Face value of ticket = $50.00
Reduced face value: $50.00 x 0.91 (less 9% deduction) = $45.50 return (profit of $35.50 on $10 stake)
In the event multiple runners are scratched after your fixed price wager, a combined deduction may be applied. If a runner was scratched before you place your wager, then there is no deduction.
A ‘dead heat’ occurs when two runners tie for one position. In racing, runners could tie for first (winner) or for second or third (a place getter).
If this happens, BetEasy will divide the number of runners dead-heating by the number of positions.
The easiest example of this is two runners dead-heating for first. BetEasy will pay half the face value of the ticket for both selections.
This applies to fixed-price wagers. If they are ‘tote’ wagers, the tote will have already calculated the halved/divided dividend for your payout.
Two runners dead-heat for first place in a race. One was paying a fixed win price of $5.00 and the other $8.00 for the win.
Two clients each have $10.00 on the dead-heating runners for the win.
Instead of being paid out $50.00 and $80.00 respectively if there was no dead heat, these clients will be paid out half of the face value of their tickets – that is, $25.00 (50 div by 2) and $40.00 (80 div by 2) respectively.
Please contact BetEasy Customer Service on 13 27 69 if you are still unsure about why you have not received the full amount of your racing payout.