What is a Deduction?
In the event that a horse is scratched from a race i.e. is taken out of (removed from) the race before it runs, a deduction may apply for bets placed at Fixed Odds, prior to the scratching (removal) of the horse from the race.
The deduction is applied as per the table included in the Neds racing terms and conditions and is applied to the total return of the winning bet.
In the event of multiple scratchings in a race a combined deduction of multiple runners maybe applied depending on the time of the bet and time of the individual deductions.
You place a Win bet of $100 at odds of 3.00, but there is a scratching of a horse after the bet was placed. The horse that was scratched had a fixed price of 9.00. Therefore, total Win deduction are 10c in the dollar.
This means that you receive 90c in every dollar of the face value of the ticket.
- Face Value: $100 x 3.00 = $300
- Reduced Face Value: $300 x 0.90c = $270
- Less your $100 outlay leaves a Win (Profit) of $170
Return = Stake x Odds;
Win (Profit) = (Stake x Odds) less Stake
- Odds: 3.00
- Total amount bet (Stake): $100
- Win Return: $300 (Stake $100 x 3)
- Deduction Rate: $0.10
- Amount Deducted: $30 (Deduction Rate $0.10 x Return $300)
- Player Return: $270 ($300 return less Deduction $30)
- Win (Profit): $170 (Return $270 less stake $100)
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