Odds Types: 

Fixed Odds

Fixed Odds are Sportsbet's Odds on a specific Horse or Greyhound. Bets are paid out at the Odds quoted when you Placed the Bet and are subject to deductions. Fixed odds are also available for exotic bet types such as Quinellas and Trifectas. 

The Tote 

Tote betting is when all bets placed on an event or race are placed into a pool. The odds of an individual runner is calculated by dividing the total pool (all wagers on all runners) minus any amount the house takes, divided by the amount wagered on that runner.

Tote+ (TO+)

Tote+ (TO+) gives you the best of the Tote and the Starting Price (SP) — so you'll get whichever of the two is the better price at settlement of your bet.

Starting Price (SP)

Starting Price (SP) is the official on-course bookmaker’s dividend declared at the end of betting.

SP Bets guarantee to pay the final bookmakers fluctuation from the bookmakers on track as declared by the Bookmakers Pricing Service (BPS) by the stewards on track, sportsbet.com.au's own Fixed Odds through our website are not included.

SP is available on Win-Only and Each-Way Bets.

Why are deductions applied?

Deductions are an industry-wide feature of fixed odds racing dictated by the stewards and are applied as a deduction (of cents in the dollar) to the face value of the ticket. It is a necessary re-framing of the market if horses/greyhounds are scratched from the final field.

What Bets get deductions?

All fixed odds racing (Gallops, Harness and Greyhounds) bets may be subject to deductions after a placement of a fixed odds bet. In all racing markets, any scratchings that occur after the final field has been declared are classed as late scratchings.

What is a late scratching?

For scratchings that occur prior to the opening of an official on course market (usually available 25 minutes prior to the official race start time) Sportsbet.com.au will apply a deduction. Official deductions (as declared by the Stewards) will only apply for late scratchings that occur after the official on course market is open.

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 are deductions calculated?

Say you place a $10 bet on a horse with fixed odds of $2.50. There was a late scratching and there was a 36c deduction per dollar. To calculate the payout:

$10 stake x $2.50 odds = $25 face value of ticket (this is what you would have been paid if there were no deductions)

$25 face value of the ticket x 36c deductions per dollar = $9 deducted amount

$25 face value of ticket - $9 deducted amount = $16 actual payout.

Schedule of Deductions