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Projected Place Payouts Explained

Host and SA calculation methods differ

Solvalla Racecourse – source of the complaint

The Sporting Post received an irate phone call from a dedicated lifetime punter on Sunday evening.

His beef was simple – but he was no meek lamb, and clearly had a bone to pick with the TAB on the late fluctuation of dividends.

“I play every day – most meetings, 364 days a year. In Solvalla race 2 tonight, the 2 horse – an outsider – was paying R9-60 at the jump and still after the race. The TABGOLD site still shows R9-60. But Saftote declared R4-60 in the final dividend. I understand late sweeps and all the other reasoning over the years. But what’s going on? How does it drop more than 50% in seconds?” he pleaded.

We contacted TAB, and they responded as follows:

Thank you for the query, which highlighted that the incorrect formula was deployed in the TAB betting system for calculating current Place payouts displays for the Solvalla race meeting 22 April. Official payouts are, of course, directly from ATG Sweden.

The TAB Place pool on a Swedish race is, in fact, the host’s Show pool and, as with the USA, payouts are not calculated in the same way as a Place pool in South Africa.

TAB Place payouts are calculated by dividing the net Place pool by the number of qualifying horses and then the number of winning tickets on each qualifier is divided into that qualifier’s portion of the net pool.

Show payouts in Sweden and the USA are calculated differently – the total number of winning tickets on the qualifying horses is first subtracted from the total net pool and the balance is divided equally among the qualifiers.

The actual payout is obtained by dividing the number of winning tickets into that qualifier’s portion of the net pool and then adding 1.

Using RACE 2 Solvalla 22 April as an example shows the difference in payouts obtained using the different formulae (whole numbers, no rounding, so approximate):

RESULT: 4-3-2

NET PLACE POOL = 46,995

No 4 winning tickets = 10,190

No 3 winning tickets = 16,617

No 2 winning tickets = 1,668

TOTAL winning Show/Place tickets = 28,474

The payout queried was that of No 2 Geisha Sisu, which dropped from 9.60 in the Place payout display at the off to an official 4.60.

The difference is in the formulae:

* SA Place pool formula = 46,995 divided by 3 = 15,665 divided by 1,668 = 9.40

* Swedish/USA Show pool formula = 46,995 minus 28,474 = R18,521 divided by 3 = 6,174 divided by 1,668 = 3.70 plus 1 = 4.70

For the record the Swedish/USA Show pool formula often results in lower current Place payouts being displayed than the actual dividends because the horses/qualifiers with the most tickets are used to calculate each horse’s current payout.

TAB apologises to customers for the display error.

Ed – they also referred to our earlier query regarding  carryovers on commingled Jackpot/Quaddie pools on Australian race meetings. As is customary ALL carryover monies are retained by the host tote and deployed later.

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4 comments on “Projected Place Payouts Explained

  1. Philip Goldberg says:

    On the issue of carryovers Ed, how much later is later. Its not like the tote is on lockdown. Every day quartets, jackpots, doubles, bipots have been carried over. Surely it is the punters money and should be put back into their hands as soon as possible. To date I track over 1 million rand.

  2. Pops says:

    Grandchild in Grade 1 says, ‘They cannot add,that is wrong’ What is wrong?
    10 190+ 16 617+1 668. She calculated it in her head,ans says,it does not come to–28 474
    Geez,Where is that abacus?

  3. Gman says:

    Playing on the tote never!!!!
    The only bets I play on the tote is exotics P/A,P6,Qtet, etc.Never wins+places.
    Play fixed odds then you know your pay out before the race even starts.It does not matter what how much you complain you will get a well constructed answer that you just have to swallow.
    How many times have they apologized about these issues regarding pay outs.
    And they wonder why revenue is down!!!!
    We are betting Mandela Notes not Monopoly money!!!!

  4. Philip Goldberg says:

    And this is not the first time. This happens very often. Never mind needing a masters in mathematics.
    At one stage we were hearing the Aussies punting into our pools.
    Absolute crap.
    Most of them are sleeping while our racing is on.
    I would still like open audits where you can see all winning tickets, where the bet was taken, time of the bet, amount of the bet.

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