Bet Allocation - Quartet
- Each bet is allocated in the specified combination.
Consider a six-horse race with Quartet bets and odds as follows:
Bet Allocation - First 4
- Each First 4 bet (four horses in any order) represents a composite of 24 possible combinations of a Quartet bet (4 horses in exact order).
- A First 4 bet is allocated to the 24 Quartet outcomes of which it is comprised, split in a way that is reversely proportional to the odds of the underlying Quartet outcomes. It is subject to a result that achieves consistent payout, regardless of which of the Quartet outcomes materialises.
- In other words, a larger portion is placed on the combinations with lower odds (i.e. more favoured) and a smaller portion is placed on the combinations with long odds (i.e. less favoured).
Assume there are several First 4 bets in the pool totalling $9,400, including:
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• $190 on combination 1-2-3-4 • $295 on combination 1-2-3-5 • $710 on combination 1-2-3-6 • $310 on combination 1-2-4-5 • $300 on combination 1-2-4-6 • $470 on combination 1-2-5-6 |
• $350 on combination 1-3-4-5 • $755 on combination 1-3-4-6 • $1,235 on combinations 1-3-5-6 and 2-3-5-6 • $540 on combinations 1-4-5-6 and 2-4-5-6 • $360 on combination 2-3-4-5 • $775 on combination 2-3-4-6 • $1,335 on combination 3-4-5-6 |
These bets are split in reverse proportion to the Quartet odds of the respective underlying outcomes relating to the combinations. Such allocation is continuously adjusted as the odds of all Quartet combinations change through the life of the pool.
Odds Calculation - Quartet
- Quartet odds will be calculated by dividing the Merged Pool Total by the amount allocated to each race outcome.
Odds Calculation - First 4
- The First 4 bet is split into the 24 possible finishing order outcomes.
- The investment weight on each of the 24 outcomes is adjusted so it gives a consistent payout. The odds are calculated by dividing the payout by the investment.
