(A) Deduction for WIN bets
The percentage rate of deduction on WIN bets with bookmakers as well as with Fixed Odds Betting in case of withdrawn/non-starter horse/s will be as under:-
|
Odds on withdrawn Horse/s at the time of Withdrawal |
Percentage of deductions |
|
If the Current Odds are EVENS or ODDS ON |
50% |
|
If the Current Odds are above EVENS and under 5/2 |
30% |
|
If the Current Odds are 5/2 (2.50 to 1) and under 5/1 |
20% |
|
If the Current Odds are 5/1 (5 to 1) and under 7/1 |
10% |
|
If the Current Odds are 7/1 and above |
NIL |
(B)Deduction for PLACE bets
The percentage rate of deduction on PLACE bets with bookmakers as well as with Fixed Odds Betting in case of withdrawn/non-starter horse/s would be as under:-
|
Odds on withdrawn Horse/s at the time of Withdrawal |
Percentage of deductions |
|
If the Current Odds are EVENS or ODDS ON |
50% |
|
If the Current Odds are above EVENS and under 5/2 |
30% |
|
If the Current Odds are 5/2 (2.50 to 1) and under 5/1 |
20% |
|
If the Current Odds are 5/1 (5 to 1) and under 7/1 |
10% |
|
If the Current Odds are 7/1 and above |
NIL |
(C) The procedure for selection of bookmakers whose betting sheets would be considered for determining the percentage of deduction on WIN and PLACE in case of withdrawal of a horse/s shall be as under:-
(i) For the purpose of determining the current odds of withdrawn/non-starter horse, Auditors will take into consideration last recorded entry (closing odds) of 10 bookmakers with the highest collection on the previous race day and arrive at average odds.
(ii) If on any race day there are less than 10 bookmakers operating then the Auditors would consider the betting sheets of all the bookmakers operating.
(iii) For WIN - Minimum 50% of the 10 selected bookmakers should have received betting on the withdrawn/non-starter horse, failing which there would be no deduction.
(iv) For PLACE - Minimum 30% of the bookmakers should have received betting on the withdrawn/non-starter horse/s in which case there will be deduction. However, in the event, of a horse which is quoted at odds of 2.5:1 or less for WIN being withdrawn and there is no recorded PLACE bet with the bookmakers on the withdrawn horse then the calculation of deduction for PLACE bets would be 1/4th of the WIN odds.
(v) In the case of more than one horse being withdrawn, then each deduction will be worked out separately subject to the condition that if the total percentage of deduction works out to be more than 50% for WIN and PLACE, the sum total of the rate of deduction of all the horses withdrawn shall not exceed 50% for WIN and PLACE.
(vi) In exceptional circumstances when there is a very short price runner which is withdrawn and where there is no recorded entry of a bet, then deduction shall be announced in consultation with the representatives of bookmakers and the Club's Officials. In case of disagreement between the Bookmakers and the Club's Officials, the decision of the Stewards shall be final and binding.
(vii) For Mumbai Races the odds of the bookmakers operating at the Mumbai Race Course will be considered as stated above.
(viii) For Pune Races the odds of the bookmakers operating at the Pune Race Course will be considered as stated above.
(ix) For all inter-venue betting days, the odds of bookmakers operating only at the Pune Race Course will be considered as stated above.
(D) In respect of place bets, in cases of the number of runners being reduced from 8 or more to less than 8, the Bookmakers will pay for 3 places if the horse/s is/are withdrawn after the "announcements" of the results of the previous race. It was clarified that the relevant announcement would be the first announcement, i.e. "The result of the (number of the race) race horse number..." and would not be dependent upon the result of the photo finishes or objections. Should any horse be withdrawn or declared a non-starter after having been declared to start, it shall not affect the number of places to be paid.
Two places will be paid when there are four or less than eight horses declared to start and three places will be paid when there are eight or more horses declared to start.
Should any horse which was declared to start is "withdrawn" or declared a "non-starter" in a race, after the bookmakers have started to accept bets for that particular race, an announcement of the withdrawal of such horse/s shall be made on the Public Address System.
On such an announcement being made concerning the withdrawal of a horse/s, the Bookmakers will immediately draw a line every time under all the last bets accepted by them upto the time of the announcement of the withdrawal of each horse. Any bets accepted by the bookmakers after the drawing of such line and entered below such line will denote that the bets have been laid after the announcement of the respective withdrawal/s of a horse, as the case may be. The bookmakers will then use a GREEN Colour pen to write out the Cards they issue to cash punters in order to denote that these bets have been accepted after the withdrawal and that no deduction on such bets will be permitted to be made by the Bookmakers. Credit punters must ensure that bets laid by them after the withdrawal announcement is made are recorded below the line drawn in the Bookmakers Betting Sheet to indicate that such bets have been accepted after the withdrawal of the horse.
In the event of the withdrawal of one or more runners in circumstances which would lead to only one runner and therefore a "Walk over" all bets on the race will be void. The race will be considered a "Walk over" for the purpose of settling bets. Similarly for place bets, if the field is reduced to three or less runners, all PLACE bets on the race will be void.
Notwithstanding anything contained in these rules, it will be open to the Secretary to announce a higher or a lower percentage of reduction in any of the cases mentioned in this Rule, and so there may be different percentages of reduction in respect of different bets, and in that case, the reduction will be made in accordance with such announcement and the same will be final and binding on all parties concerned.
Mumbai: 25th April 2009
