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--- product:greyhound-racing [2019/10/10 15:15] – [Place Bets (SP)] julius.kriukas
+++ product:greyhound-racing [Unknown date] (current) – external edit (Unknown date) 127.0.0.1
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-====== Greyhound racing betting rules ======
+====== Greyhound Racing Betting Rules ======
-  * All bets are on trap numbers and not on named dogs
+   - **Terms**
-  * If you bet on a trap with a non-runner, you will get your money-back
+       - **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.
-  * In the case of dead heats, if affected your total pay-out shall be divided by the number of winning combinations
+       - **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.
-  * All bets will be settled on the basis of the official result as first announced
+       - **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.
-===== Win Bets (Fixed Price & Starting Price) =====
+       - **Non-runner** -  the greyhound/trap withdrawn from the race because of illness, injury, or other reasons.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.
-  * To win, you must choose which trap number will finish 1st in a race
+       - **Starting Price** - Final odds on a dog (e.g. 'closed at 5 to 1') at the start of the race.
-  * You must select **either** a Fixed Win Bet (based on track betting shows) or a SP Win Bet (where the dividend is declared by the track at the start of each 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.
-  * If you select a trap and the runner is changed via a reserve dog, and you have selected a Fixed Win Bet, your bet will be converted to a SP Win Bet
+   - **Betting Rules**
+       - General Rules
-===== Forecast / Exacta Bets (Fixed Price & Starting Price) =====
+         - 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.
-  * To win you must choose which trap numbers will finish 1st & 2nd in correct order in a race
+         - 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.
-  * You must select either a Fixed Forecast Bet (based on track betting shows) or a SP Forecast Bet (where the dividend is declared by the track at the start of your race)
+       - Win Bets
-  * If any of your selected traps have their runner changed via a reserve dog and you have selected a Fixed Forecast Bet, your bet will be converted to a SP Forecast Bet
+         - Fixed Win Bet - a win bet placed using fixed odds (based on track betting shows).
-  * All Forecast Bets will be converted to a Win SP Bet if 1 of your betting selections did not run
+         - SP Win Bet - a win bet placed using starting price odds.
-  * If official dividends for Forecast Bets are not announced all SP Forecast Bets convert to SP Win Bets
+         - 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
-===== Tricast / Trifecta Bets (SP) =====
+         - 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.
-  * To win you must choose which trap numbers will finish 1st& 2nd & 3rd in correct order in a race
+         - 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.
-  * Bets on a Tricast Bet will be converted to a Forecast Bet if one of your selections did not run
+         - 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.
-  * Bets on a Tricast Bet will be cancelled if all your selections run but there are not enough runners for that type of bet
+         - If official dividends for exacta bets are not announced, all SP Exacta bets are converted to SP Win bets.
-  * If official dividends for Tricast Bets are not announced, all bets get converted to SP Forecast Bets
+       - Trifecta Bets
+         - SP Trifecta Bet - a trifecta bet placed using starting price odds and dependent on tricast dividend.
-===== Place Bets (SP) =====
+         - 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.
-  * To win you must choose which trap numbers will finish 1st or 2nd (& sometimes 3rd) in a race.
+         - 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
-The number of place dividends, depends on the number of runners taking part in a race:
+         - 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:
-  * For races with 4 or less runners, Place Bets will be resolved as Win SP Bets.
+           - 4 or fewer runners:
-  * For races with 5 to 7 runners, Place Bets will be resolved with a dividend equal to 1/4 of the win SP odds. Selections finishing in 1st or 2nd place will qualify for payouts.
+             * Selection must finish 1st
-  * For races with 8 runners, Place Bets will be resolved with a dividend equal to 1/5 of the win SP odds.  Selections finishing in 1st, 2nd or 3rd place will qualify for payouts.
+             * 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.