The takeout drop of 5. Even further, the HKJC will increase the rebate customers receive on its quinella and quinella place pools by 20 percent, going up from 10 to 12 percent. The win and place losing rebate remains at 10 percent. There is plenty of competition in the marketplace which makes this overall performance all the more impressive.
Unregulated online operators the so-called illegal markets provide even sterner competition for racing, soccer and all other sports, with massive rebates, credit betting and low overhead. The battle is relentless, and it drives HKJC innovation. We saw a significant dip in our turnover after the Asian financial crisis. We had another issue with SARS. So, if you look at the business results, you could argue why put all this effort in to the [handle] if [it was] reducing?
This immediately showed the price elasticity, that we could turn around the decline we had in racing, and we in a way were able to capture a significant first part of the illegal market. The total number of race days for wagering to accumulate such handle did increase, but at its peak, only by about 25 percent. A bet to win, sometimes called a "straight" bet, means staking money on the horse, and if it comes in first place, the bet is a winner.
In a bet to place, you are betting on your horse to finish either first or second. A bet to show wins if the horse finishes first, second or third. Since it is much easier to select a horse to finish first, second, or third than it is to select a horse just for first, the show payoffs will be much lower on average than win payoffs. If there are a small number of horses in the race, show or place bets may not be offered or if bets have already been made, they are cancelled and the wagered amounts refunded.
For example, in a race with seven or less runners in the UK, only the first two finishers would be considered winning bets with most bookmakers. Three places are paid for eight or more runners, whilst a handicap race with 16 runners or more will see the first four places being classed as "placed". A show bet in the North American sense does not exist in these locations.
An each-way bet sees the total bet being split in two, with half being placed on the win, and half on the place. The full odds are paid if the horse wins, plus the place portion , with a quarter or a fifth of the odds depending on the race-type and the number of runners if only the place section of the bet is successful. In the UK some bookmakers will pay for the first five some independent firms have even paid the first six for a place on the Grand National.
This additional concession is offered because of the large number of runners in the race maximum Occasionally other handicap races with large fields numbers of runners receive the same treatment from various bookmakers, especially if they are sponsoring the race.
Each portion is treated by the totalizator as a separate bet, so an across-the-board bet is merely a convenience for bettors and parimutuel clerks. In addition to straight wagers, "exotic" wagers offer bettors an opportunity to incorporate the placement of different horses in one or multiple races. The two broad types of exotic wagers are horizontal and vertical. Horizontal exotic wagers are bets on multiple horses in one particular race, while vertical exotic wagers involve predicting results across multiple races.
Both have specific options for which bets are available and are detailed below.
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Note:Under normal circumstances, match results will be announced around 30 minutes after the match ends. Dividends will be paid subsequently. However, due to the need for longer time to verify results, payouts on winning bets that involve certain leagues and tournaments will normally start about three hours after match completion. These Rules have been made by the Board of Directors of HKJC Horse Race Betting Limited in accordance with its Memorandum and Articles of Association to govern the conduct of all horse race betting, whether by means of a Totalisator or otherwise. These Rules may be amended from time to time by the Board of Directors of HKJC Horse Race Betting. Sep 09, · 9th September am GMT. The Hong Kong Jockey Club (HKJC) has reported betting revenue of HK$ 42 billion (US$ billion) for the /22 season. As well Missing: kentucky.