PLACE MONEY RETURNED

Evening Post, Volume CXVI, Issue 61, 9 September 1933, Page 25

PLACE MONEY RETURNED

The rule i'ov calculation of place dividencls in England lias an interesting dWEerence from, the rule applied in New Zealand, , and a case arose at the Worces-ter-Meeting at the end of July in which this was made very clear. lender the .English rule every place dividend must be more than the stake invested, and it there is not sufficient money : in- the pool to enable this to be done all stakes invested for places will be returned, and without percentage reduction. , _: There were eight runners- •in the JVLutsummcr Plate at Worcester, but only three were backed. In the "ring" the bookmakers were vainly, offering "50 to 1 bar three." Practically the whole of the place money on the tptalisator was confined to Master Vere, Sweet Courage, and Fruitful, who filled the three places. As there was not sufficient money invested on the other five competitors to enable place dividends to be paid, the totahsator authorities returned all stakes invested for places. , .■■■:. ; ~ The English rule for calculation of place dividerfds is:—"After deducting the determined percentage from the pool arid a sum represented by the total of winning bets on the placed horses, the balance shall be divided into as many parts as there are horses placed, and each part shall be divided by the number of unit bets on the horse to which it refers. To the resultant in each case will be added the value of the bet."