TAB announces stance on fixed odds Cup bets
2010-03-10T04:42:33+11:0010th March 2010, 4:42 am
SYDNEY, March 10 AAP - TAB Limited has confirmed fixed odds bets placed on the Australian Cup and Guineas before they were postponed will stand, but with some important provisions.
The two Group One races were to be run at Flemington last Saturday but were put back seven days when a freak storm washed out the meeting midway through the afternoon.
They have been added to this Saturday's Blamey Stakes program at Flemington.
The rescheduling caused a conundrum for TAB Sportsbet due to the reinstatement of Melbourne Cup winner Shocking to the Australian Cup field.
Shocking was scratched last Saturday morning with a foot problem but has since overcome the setback and been given the green light to take his place this weekend.
Under the rules of fixed odds betting, the TAB announced on Wednesday it was "obligated" to allow wagers placed on the Australian Cup and Guineas to stand because the markets were "all in".
However, punters who placed bets on the Australian Cup prior to its postponement also have the option to start again by cancelling their ticket and receiving a refund.
For those happy to keep their original tickets, a number of provisions have been put in place to ensure minimal disadvantage to punters who placed bets following Shocking's scratching.
The TAB's provisions include:
* If Shocking is scratched again:
- A refund will be paid on bets placed on Shocking after 10.18am (AEDT) on March 3 when final field betting opened.
* If Shocking runs and finished unplaced:
- Bets on the winner and placegetters will be paid on the face value of the ticket.
- Bets on the winner placed after Shocking was scratched will get a 13 per cent top-up and bets on the placegetters made after Shocking's scratching will receive a 12 per cent place top-up as the price these punters received would have been reduced because of Shocking's scratching.
* If Shocking wins or runs a place:
- Punters who backed him at a TAB outlet before he was scratched last Saturday will need to submit a claim to the TAB, which will waive the normal fee for such a claim.
- Those who backed him on their TAB accounts will have their account balances automatically adjusted.
- For customers who placed a bet believing Shocking was a scratching, TAB Sportsbet will pay special dividends whereby it treats the second placegetter as the winner and fourth placegetter as the third placegetter.
TAB Sportsbet has also opened new markets on the rescheduled Australian Cup installing Heart Of Dreams the $6.50 favourite ahead of Shocking ($7.50), Zipping ($9), Miss Maren ($9) and Sirmione who at $9.50 is the only other runner under double-figure odds.
Click the "like" button on the Punters Paradise Facebook page to receive our news directly to your facebook feed, along with extra photos, discussions, newsletters, free tips and special betting offers.
The two Group One races were to be run at Flemington last Saturday but were put back seven days when a freak storm washed out the meeting midway through the afternoon.
They have been added to this Saturday's Blamey Stakes program at Flemington.
The rescheduling caused a conundrum for TAB Sportsbet due to the reinstatement of Melbourne Cup winner Shocking to the Australian Cup field.
Shocking was scratched last Saturday morning with a foot problem but has since overcome the setback and been given the green light to take his place this weekend.
Under the rules of fixed odds betting, the TAB announced on Wednesday it was "obligated" to allow wagers placed on the Australian Cup and Guineas to stand because the markets were "all in".
However, punters who placed bets on the Australian Cup prior to its postponement also have the option to start again by cancelling their ticket and receiving a refund.
For those happy to keep their original tickets, a number of provisions have been put in place to ensure minimal disadvantage to punters who placed bets following Shocking's scratching.
The TAB's provisions include:
* If Shocking is scratched again:
- A refund will be paid on bets placed on Shocking after 10.18am (AEDT) on March 3 when final field betting opened.
* If Shocking runs and finished unplaced:
- Bets on the winner and placegetters will be paid on the face value of the ticket.
- Bets on the winner placed after Shocking was scratched will get a 13 per cent top-up and bets on the placegetters made after Shocking's scratching will receive a 12 per cent place top-up as the price these punters received would have been reduced because of Shocking's scratching.
* If Shocking wins or runs a place:
- Punters who backed him at a TAB outlet before he was scratched last Saturday will need to submit a claim to the TAB, which will waive the normal fee for such a claim.
- Those who backed him on their TAB accounts will have their account balances automatically adjusted.
- For customers who placed a bet believing Shocking was a scratching, TAB Sportsbet will pay special dividends whereby it treats the second placegetter as the winner and fourth placegetter as the third placegetter.
TAB Sportsbet has also opened new markets on the rescheduled Australian Cup installing Heart Of Dreams the $6.50 favourite ahead of Shocking ($7.50), Zipping ($9), Miss Maren ($9) and Sirmione who at $9.50 is the only other runner under double-figure odds.
Click the "like" button on the Punters Paradise Facebook page to receive our news directly to your facebook feed, along with extra photos, discussions, newsletters, free tips and special betting offers.
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