WIN-AND-PLACE "TOTE"

Evening Post, Volume CXV, Issue 12, 16 January 1933, Page 4

WIN-AND-PLACE "TOTE"

EXAMPLES OF WORKING

As the Wellington Racing Club has i adopted the win-and-place system of distributing dividends' at its meeting at Trentham • this week it has become necessary for investors properly to understand the new method. Explanation of the system has already been given, but many racing men are still rather confused about it.

_ All that it .is really necessary to grasp is that there are two separate pools, treated separately for straight-out -win betting and for place betting; and that in the place betting a horse that finishes in a place will pay the same dividend whether Jjt is first, second, or third, but that the different place-fillers will all pay different prices, unless by coincidence two of them should be identically' supported. One who wants something more for picking the winner correctly must risk his money on the straight-out win machine. The new method does' not present anyreal difficulty. Actually it is delightfully simple,' once it has been studied a little. •. As already noted, two different pools are involved, each quite separate from the other., /■-•■•-.■■. THE WIN MACHINE. For fields up. to'..fov'r horses only fhe straight-out machine will operate, and; in this case _ the system will be exactly the same as it is at present and has been in the past. There will'only be one dividend, ■ The backers of the winning horse will divide the pool after the taxation percentagesf.have been deducted.

:■ Under the new.scheme this straight-out wm. totalisator will operate oh all races, irrespective oij the number of starters, "and the,whole pool will be paid out on the winner alone.- That is to sayi instead of, as previously,: in fields: of six horses and upwards, 75 per cent, of ihe pool-going to backers.of the first horse and 25 to backers: of the second, the whole I available pool, 100 per cent., will go to! backers of the winner only. This means, of course, that the backers of a straightout winner will receive a better dividend than hitherto, but will have no chance of saving their money or a part of it if then? fancy runs second or third. _:..... THE PLACE MACHINE. The additional and alternative system to be made \ available to backer's will be the place machine, and the pool here will be entirely separate from that on the 'straightout machine. Under this system bettors will make their investments at the selling windows marked "Place," and the system will be available on all races in which there are five or more starters.

In fields of ; five or seven runners, the total .amount of; the pool will be divided into two equals parts and paid out to backers of the first and second, horses. In fields- ;of eight runners or upwards, the pool will be divided into three equal parts and paid to the backers of the first, second, and :third horses. Patron's will therefore have the opportunity, if they wish, of backing their; fancy for a win, for a place, or for both.1 : It should be clearly understood-that on the place machine the horse is'backed for a "place" and a place'only. That is to say, one wagers, say, ten shillings that a certain horse-will run either.first, second, or third, and no.matter; which -place he may fill the. dividend will be the same. The following actual example in round figures illustrates;, the working o£ the "place" pool. First take a field of six runners,' backed as follows:—A £200, B £120,0 £50, D £250, "E: £280, F £300. In round figures the amount to be divided here (deducting taxes, etc;) will be "£IOOO, and as ■ there are six runners there will be payments on the^ first/;two horse's. Suppose D is first and Cis second. The pool is divided into two equal parts of £500 each. IVs 250 backers will receive back a. dividend'of £2 and Cs 50 will get one of £10. Now take a field of ten backed as follows—A £200, B £100, C £150, D £50 B £100, F £250, G £120, H £30, M; £110, N £90.. In this case again -the approximate pool to be divided is £1000.: Suppose that in the actual race A comes first, E second, and H third. With the pool divided in this instance into three equal parts (there being more than eight starters) there is £333 to be divided in each case. The winner A was well backed and his supporters will get £1 13s 6d for each £1 invested; E's will get £3 3s; and those who supported the outsider, H, will collect '£10 for each £1, .invested. Of course, it must be remembered that had A run third he would still have paid £1 13s 6d, and had H been first he would still have paid £10. The horse has been backed only to run into a-place.