Flexi Bet and new Place odds calculation to be offered starting this racing season

29 August 2008

Starting from the first race meeting of the new season on Monday, 15 September, HKJC Horse Race Betting Limited will introduce Flexi Bet and a new way to calculate Place odds. A number of changes to the rules relating to Jockey Challenge will also be effective from the same day.

Flexi Bet

One total bet amount does it all, All Up bets available from $5 up

Flexi Bet is a new betting concept that allows customers* to nominate their desired total bet amount for their bets or betlines, and the computer system will calculate the number of bet combinations and divide the bet amount evenly for each bet combination. Dividend will be calculated in proportion to the bet amount on each bet combination.

Flexi Bet is available to exotic pools including Trio, Double Trio, Triple Trio, Tierce, Treble, First 4 and Six Up bets, as well as All Up and Cross Pool All Up bets for Win, Place, Quinella, Quinella Place and Trio. The existing minimum bet amount per bet requirement for exotic pools will apply. Irrespective of whether the bet is made through Flexi Bet or the traditional way of unit betting, the minimum bet amount for each All Up or Cross Pool All Up bet combination is $5 when the total bet amount for the relevant ticket or betline reaches $100.

Take for example a 2-Banker and 3-Selection Tierce multiple bet which forms 18 bet combinations, the bet amount on each bet combination for a $100 total bet amount through Flexi Bet will be:

Total bet amount

 

Number of bet combinations

 

Bet amount on each bet combination

$100

÷

18

=

$5.5556#

# On ticket validation, bet amount on each bet combination will be displayed to two digits after the decimal point. For transaction records for Interactive Services and betting account statements, bet amount on each bet combination will be shown to four digits after the decimal point. For dividend calculation purposes, bet amount on each bet combination is rounded to the nearest 1/10000th across all betting channels.

If the dividend for a $10 unit bet is $6,000, the payout will be:

Dividend for $10 unit bet

 

Dividend for $1

 

Bet amount on each bet

 

Calculated dividend

 

Actual dividend

$6,000

÷

10

X

$5.5556#

=

$3,333.36

 

$3,333.5^

^ Dividends will be rounded up or down to the nearest 50 cents

New tickets with "Ticket" and "Unit" option

New tickets with selections of betting mode on 'Ticket' and 'Unit' will be available. Cashbet customers choosing Flexi Bet should mark 'Ticket' on their betting tickets. Customers who place bets through Telebet** should indicate 'Flexi Bet' or 'Total Bet Amount' selection and those who place bets through Interactive Services *** channels should select the 'Betline' option.

For customers who wish to place bets by the traditional unit betting mode in the above mentioned exotic pools and All Up / Cross Pool All Up, or Win, Place, Quinella, Quinella Place single-race pool and Double, customers should mark 'Unit' on the betting ticket and indicate the amount of unit bet value.

Place odds

New calculation for Place odds

A new calculation method for Place odds will be effective from the new season. The new Place odds display will be a single odds indication rather than a highest to lowest odds range , and will allow customers to have a better estimate of their potential single-race or All Up Place dividend.

The net pool (amount for dividends) for Place will be divided into equal parts for the Place dividends, and each part will be further divided by the total stake on each of the horses. For example, if a net pool for Place in a race is $10 million, and the total stake on horse No. 8 is $1 million, the Place odds of the horse under the new calculation will be:

Net pool

 

Equal parts for Place dividends

 

Total stake on Horse No. 8

 

Place odds for Horse No. 8

$10,000,000

÷

3

÷

$1,000,000

=

3.3

A similar method will also be adopted in calculating dividend for dead-heat situations in the Win, Quinella, Double, Tierce, Trio, Treble and First 4 betting pools starting from the new season.

Jockey Challenge

Selling hour and rule changes

Jockey Challenge has been well received by customers since its introduction last season. To meet customers' demands, selling hours for the pool will be further extended to the start of the first local race, and some of the rules will also be amended.

Same highest accumulated Jockey Challenge points in final results

  • If two or more jockeys have collected the same highest total accumulated Jockey Challenge points after the day's final results, the one who attained the highest number of 1st placings will be the Jockey Challenge winner. If the number of 1st placings is the same among these jockeys, the number of 2nd placings will be counted, and so forth to the 4th placings. In the event it is not possible to determine one final winner using the above method (i.e. counting up to the 4th placings), then the winning selection for the Jockey Challenge bets at the relevant race meeting will be treated as a dead-heat.

Named jockey withdrawal

  • If a jockey designated among Nos. 1 to 11 does not ride in any of the nominated races at the race meeting concerned, and the odds of the said jockey is equal to or less than 5.0 at the time the withdrawal is announced, all Jockey Challenge bets will be refunded.

Declared as non-starter

  • In the circumstances that a horse is declared as a non-starter, the jockey of the horse is considered not to have ridden in the race.

Leaflets available for collection

Terms and conditions relating to Flexi Bet, the new Place odds calculation and Jockey Challenge are governed by the Horse Race Betting Rules****, as amended from time to time. Information leaflets will be available for collection at Off-Course Betting Branches (OCBBs) from 1 September. Customers can also contact the Club's Customer Services Representatives, call the 1817 Hotline or visit the website at www.hkjcracing.com for details from that day.

* Customers must be aged 18 and above

** Flexi Bet is not available through 1886 Telebet Automated Services

*** Flexi Bet is not available through the Mobile Betting Service, CIT-6, CIT-PDA and TV Betting Service (tWin). Customers can upgrade to use CIT-8, Mobile Online Betting Service, Online Betting Service (eWin), PDA Betting Service, Interactive Phone Betting Service (iWin, Flexi Bet mode for Tierce and Trio available) or MangoCombo/MangoSports. For details, please visit an Interactive Services Centre or call the 1818 Hotline.

**** For details of Flexi Bet, Place odds calculations and Jockey Challenge, please refer to the Horse Race Betting Rules of HKJC Horse Race Betting Limited. In the event of any inconsistency between this document and the Horse Race Betting Rules, the Horse Race Betting Rules shall prevail.


Photo 1:
Flexi Bet

 


Photo 2:
The existing minimum bet amount per bet requirement for exotic pools will apply.

 


Photo 3:
Dividends will be rounded up or down to the nearest 50 cents

 


Photo 4:
A single odds indication rather than a highest to lowest odds range

 


Photo 5:
Information leaflets