How the Betting Works
A float of £20 (minimum)
A seated ticket seller for the punters to go to.
Keep to one selling price for the night.
Opening and Closing the Tote Betting
Every horse in every race will have its own tickets.
The ticket seller takes the bets one race at a time.
For larger events use more than one ticket seller and a bigger float.
Example Race One
Your punters place their bets at £1 a ticket and at the close of the betting the following tickets have been sold.
Horse number of runner to bet on.
Start No. number of tickets available at start of race.
Close No. number of tickets unsold.
Total sold this number added to ‘close no.’ should equal ‘start no.’
Total sold 90 tickets sold at £1 each.
Total cash in £90
Total payout 50% of ‘cash in’ = £45.
Profits raised Equals ‘total cash in’ less ‘total payout’ = £45.
In the above example, horse number 2 wins: 10 winning tickets were sold.
Total payout of £45 divided by 10 winners = £4.50 to each winner.
If number 7 had won: 3 winning tickets were sold.
Total payout of £45 divided by 3 winners = £15.00 to each winner.
Repeat this for all the other races (guaranteed funds)
Your race is run under the Lottery and Amusement Act of 1976
To comply with the regulations we suggest the following:
Open the betting for the race.
Take all bets. Close the betting for the race.
Ask a member of the audience to choose a race number at random from the DVD
Show the film on the TV or Screen.
Before the race starts a fun form guide gives a brief rundown of each of the runner’s chances.
As no more bets can be placed at this point you have complied with the regulations.
At the end of the race the winning payouts are announced.
Payout the Winners Only.