Punting 101: Refunds & Deductions

Posted on February 21, 2017April 13, 2017 | Posted by TABtouch

What is the Refunds & Deductions rule?

The Refunds & Deductions rule applies to all ‘Final Field’ Fixed Odds racing bets (Thoroughbreds, Harness and Greyhounds). The Refunds & Deductions rule has two parts:

• Refunds: If a runner is scratched, customers that bet on that runner will receive a full refund.
• Deductions: If a runner is scratched, winning investments that were placed before that runner was withdrawn may incur a deduction.

The Refunds & Deductions rule is practiced by all bookmakers in Australia that offer Fixed Odds ‘Final Field’ markets on racing events.

Which bet types are subject to this rule?

All Fixed Odds ‘Final Field’ racing bets (Singles and Multi wagers) are subject to Refunds & Deductions betting rules.

Futures markets and other novelty racing options such as Jockey Challenge, Greyhounds Box Challenge, Odds vs Evens or Inside vs Outside are not subject to Refunds & Deductions.

Why are deductions taken?

Deductions are taken to account for what price your runner would have been had the scratched runner not been in the field at the time your bet was placed. Whilst you might occasionally receive a smaller dividend than expected, you can rest easy knowing that you’ll receive a refund if your runner is scratched.

Who decides the amount deducted?

Deductions are taken in accordance with official Scale of Deductions, as released by the Australian Racing Board, or as announced by the on-course stewards.

The amount deducted is based upon the Fixed Odds price of the scratched runner at the time it was withdrawn.

How do I calculate deductions?

Deductions are referenced as cents per dollar and are applied to the face value of the ticket.

Assume you placed a $20 bet on a horse paying $2.30. Also assume that another horse was scratched, resulting in a 25c deduction.

1. $20 bet x $2.30 odds = $46 ticket face value (this is how much your bet would pay if there were no deductions).
2. $46 ticket face value x 25c per dollar = $11.50 deduction

To work out your adjusted payout, simply subtract the deduction from the ticket face value:

1. $46 ticket face value – $11.50 deduction = $34.50 actual payout

What happens if there are multiple scratchings?

In the case of multiple scratchings, simply add the deductions together and calculate the total.

Assume that 3 horses were scratched from a race, with deductions as follows:

• Horse One: 12c deduction
• Horse Two: 3c deduction
• Horse Three: 7c deduction

In this case, the total deduction would be 22c.