- What are Deductions and when do they apply?
What are deductions?
Deductions are an industry-wide requirement of fixed odds betting on racing. They occur due to scratchings and are applied as a deduction of cents in the dollar (effectively, a percentage) from your potential payout.
Why are deductions applied?
All final field scratchings will incur a deduction to eligible fixed odds bets. A fixed odds bet is eligible for a deduction if the relevant scratching occurs after the bet has been placed. Any scratchings from before the bet is placed do not impact the bet.
Example: you place a $10 win bet on a horse with fixed odds of $2.50. Any scratchings that occurred before your bet was placed do not apply. However, there are scratchings after you place your bet which incur a total of $0.20 deduction per dollar (20%).
To calculate the payout when your bet wins:
1. $10 stake x $2.50 odds = $25 potential payout
2. $25 potential payout x $0.20 deduction per dollar (20%) = $25 x 0.20 = $5 deducted amount
3. $25 potential payout - $5 deducted amount = $20 actual payout.
What bet types may be subject to deductions?
All Fixed Odds racing (Thoroughbred, Harness and Greyhounds) Bets may be subject to deductions when there is a scratching after you Place a Bet.
What is the Final Field?
Final Field comprises the final acceptors as advised by the controlling Race Club. All bets struck prior to the Final Field being declared are accepted on an ALL-IN basis (i.e. no refunds for non-runners and no deductions from any other runner.) Bets struck after the final field is declared are eligible for a full refund on scratched horses or greyhounds and deductions will apply to remaining runners.
How much of a deduction is applied to my bet?
See the schedule of deductions for full information.