product:greyhound-racing [Aardvark Technologies Wiki]

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====== Greyhound Racing Betting Rules ======

   - **Terms**
       - **Win Bet (Straight Bet, or Single)** - a bet placed on one greyhound in which the chosen greyhound must be the first across the finish line.
       - **Exacta (Forecast, Straight Forecast, or Perfecta)** - a bet placed on two greyhounds in which they must cross the finish line in the exact chosen order.
       - **Trifecta (Tricast, or Treble Forecast)** - a bet placed on three greyhounds in which they must cross the finish line in the exact chosen order.
       - **Place** - a bet in which the chosen dog must finish either first, second, or third in order to win.
       - **Non-runner** -  the greyhound/trap withdrawn from the race because of illness, injury, or other reasons.
       - **Trap** - One of the box-like compartments that are set along the starting line of a greyhound race track where the dogs wait before being released at the beginning of a race.
       - **Starting Price** - Final odds on a dog (e.g. 'closed at 5 to 1') at the start of the race.
       - **Forecast/Tricast Dividend** - a computer-calculated number to decide the odds of exacta and trifecta bets. The returns are calculated based on the number and value of the bets placed in the betting pool before the race and the number of bets placed on particular outcomes. The payout is worked out after any relevant taxes and cuts, and it is distributed between the punters who backed that particular winning outcome. Forecast and tricast dividends are published by the racecourses that host the races.
   - **Betting Rules**
       - General Rules
         - All bets are made on trap numbers, not on named dogs.
         - All bets are settled on the basis of the official result as first announced.
         - All bets on non-runners are voided, i.e. if all traps in win, exacta, or trifecta bets are declared non-runners, the bets are voided.
       - Win Bets
         - Fixed Win Bet - a win bet placed using fixed odds (based on track betting shows).
         - SP Win Bet - a win bet placed using starting price odds.
         - In case a runner is changed via a reserve dog, all Fixed Win bets on that trap are converted to SP Win bets.
       - Exacta Bets
         - Fixed Exacta Bet - an exacta bet placed using fixed odds (based on track betting shows).
         - SP Exacta Bet - an exacta bet placed using starting price odds and dependent on forecast dividend.
         - If any of the traps selected within an exacta bet have their runner changed via a reserve dog, all Fixed Exacta bets are converted to SP Exacta bets.
         - If one of the selected traps is declared a non-runner, all forecast bets, i.e. both Fixed Exacta and SP Exacta, are converted to SP Win bets.
         - If official dividends for exacta bets are not announced, all SP Exacta bets are converted to SP Win bets.
       - Trifecta Bets
         - SP Trifecta Bet - a trifecta bet placed using starting price odds and dependent on tricast dividend.
         - If one of the selected traps is declared a non-runner, all trifecta bets are converted to SP Exacta bets (if needed, followed by rule 2 part C section IV).
         - All trifecta bets will be converted to Exacta or Win bets if there are not enough runners for trifecta bets to be considered valid.
         - If official dividends for trifecta bets are not announced, all trifecta bets get converted to SP Exacta bets (if needed, followed by rule 2 part C section V).
       - Place Bets
         - SP Place Bet - a place bet placed using starting price odds and dependent on the number of runners taking part in the race.
         - The payout structure of SP Place bets is as follows:
           - 4 or fewer runners:
             * Selection must finish 1st
             * SP Place bets will be resulted as SP Win bets
           - 5-7 runners
             * Selection must finish 1st or 2nd
             * SP Place bet winnings (payout minus stake) will be equal to 1/4 of the SP Win bet winnings
           - 8 or more runners
             * Selection must finish 1st, 2nd, or 3rd
             * SP Place bet winnings (payout minus stake) will be equal to 1/5 of the SP Win bet winnings
   - **Betting Limits**
       - Betting limits are set by each organisation that adopts the product. They can be configured in the Aardvark Technologies administrator interface.
   - **Special Cases**
       - **Dead Heat Rule** - Dead Heat is a tie between two or, rarely, more runners in a race. If there is a Dead Heat, a bettor wins part of his bet and loses part of his bet. A Dead Heat is calculated by dividing the stake proportionally between the number of winners in the event. For example, in a two-way Dead Heat (2 winners), the punter's return will be half of what it could have been.
       - **Rule 4** - Rule 4 is a deduction that is applied when there is a non-runner in a race that has only been declared at the last minute, i.e. after final declarations for the race have been made and the fixed odds price has been declared. The deduction is applied to all remaining participants of the race.