Flexi Betting is a new and exciting method of wagering where you can take virtually as many combinations as you wish on selected novelty bet types and you nominate the total amount you want to spend.
If your Flexi bet is successful, you will collect a percentage of the dividend equal to the Flexi percentage of the investment you have placed.
Flexi Betting is available on Trifecta, Quartet and Quaddie bet types on both products combined with SuperTAB and WA stand alone pools.
If you have further questions relating to Flexi Betting after reading this page, please contact the RWWA Customer Service Centre on 1300 36 36 38.
Flexi Betting - stretch your dollar.
Example - Melbourne Race 6 and five horses all-ways in a Trifecta.
Example - You decide to spend $15
Example - Cost for $1.00 per combination or a 100% investment is $60 so for a $15 total spend, your Flexi percentage is 25%.
Use the Send Bet button to place your bet. The percentage of the bet you have invested in is shown on the bet confirmation screen.
Example - If the displayed Trifecta dividend was $200 for 100%, your 25% Flexi dividend would be $50.
The Flexi percentage is calculated by dividing the total spend amount by the number of combinations selected.
E.g. - A three horse all-ways Trifecta contains six combinations. If the total spend was $2.00, the Flexi percentage would be 33.33 ($2 divided by 6).
The Flexi percentage must be greater than 1.00%. If the percentage is less, the bet will not be allowed to place. In this circumstance, a greater spend amount or less combinations is required for the investment to be accepted.
E.g. - A $5.00 Flexi Trifecta containing nine selections allways would not place as Flexi percentage is 0.99%. $5.00 divided by 504 combinations (9x8x7) equates to less than 1.00%.
By increasing the total spend amount to $6.00 for example, the investment would now place as the Flexi percentage has increased to 1.19%.
The Flexi percentage will not always be a full fraction. Whilst the percentage can be infinite, due to limitations the percentage calculated and stored is truncated to six decimal places. This process has little effect on your return.
Space restrictions dictate only two decimal places can be printed on the ticket and for larger Flexi percentage investments, the number of decimal places may be reduced to one or infrequently, not displayed at all.
A minimum spend of 50c is required to play Flexi Betting. This can either be an investment containing one combination for half the displayed dividend or a Flexi bet with a greater than 1% stake.
With Flexi Betting you can also elect to spend in increments of 50c. This means that a total spend of $1.50, $2.50 or even $15.50 for example would be allowed to place.
E.g. - A total spend of $7.50 on a Flexi Trifecta containing four selections all-ways would place for a Flexi percentage of 31.25%
If you wish to play for a spend amount per combination, you must mark the 100% box in conjunction with an amount in the spend column. This acts as a cost multiplier for the combinations selected.
So to play for $1 per combination, or 100% of the displayed dividend, you would need to mark the 100% box and $1 in the spend column. For 50c per combination, mark the 100% box and 50c in the spend column and so on.
E.g. - If a Quaddie ticket containing three selections in each leg had the 100% box and $2.00 in the spend column marked, the total cost of the wager would be $162.
This is because there are a total of 81 combinations contained within the nominated selections (3x3x3x3) multiplied by $2.00 per combination.
Where the 100% box and a spend value is marked, once processed, the reverse side of the ticket will display dividend multiplied information, indicated by DIV x *, rather than a Flexi percentage.
E.g. - If a Quartet ticket had the 100% box and $3.00 in the spend column marked, the reverse of the betting ticket would display DIV x 3
Flexi Betting is also available on existing mystery options for Trifecta, Quartet and Quaddie bet types. The method to select mystery options remains unchanged.
To play a mystery investment for 100% of the displayed dividend, you must mark the 100% box and $1.00 in the spend column. To play for half of the displayed dividend, leave the 100% box and spend column unmarked.
If a selection contained in a Flexi investment is scratched, the nominated Flexi percentage will be retained over the remaining combinations and the difference payable as a refund.
E.g. - A $10 Flexi Trifecta containing four selections Allways has a Flexi percentage of 41.66%. If one runner is scratched, the Flexi percentage of 41.66% is retained over the three remaining runners on an Allways basis. The revised cost of the investment is $2.49 with a refund of $7.51 payable.
If insufficient starters due to scratchings render the bet invalid, the entire cost of the bet will be refunded.
The displayed dividend for a nominated pool is calculated by dividing the number of dollars in the net pool by the number of dollars and cents invested on the winning combination. This includes Flexi investments and wagers placed via the standard betting method.
The dividend displayed for any Trifecta, Quartet or Quaddie pool will always be for the full 100% or $1.00 per combination.
E.g. - If a net Trifecta pool contains $1,000 and two customers have correctly selected the winning combination, one for the full displayed dividend or $1.00 per combination and the other for a 25% Flexi investment, the dividend calculation is as follows.
Net Payout Pool = $1,000
Total Winning Investment = $1.25
Therefore $1,000 divided by $1.25 = $800.
The displayed Trifecta dividend is $800 so the customer who selected the winning combination for $1.00 receives the full $800 as a dividend;
And the 25% Flexi investment receives a dividend of $200 or 25% of the displayed dividend. The total amount paid out as dividends is equal to the net payout pool.
If the total number of dollars invested on the winning combination is $0.50 or greater, the entire net pool will be paid out. This includes if only one customer has selected the correct winning combination for half the displayed dividend or 50c per combination.
If the total number of dollars invested on the winning combination is less than $0.50, a partial carryover will be generated.
E.g. - If a net Trifecta payout pool contains $1,000 and one customer correctly selects the winning combination for a 25% Flexi investment, the dividend and carryover information is as follows:
Net Payout Pool = $1,000
Total Winning Investment = $0.25
Displayed dividend per $1.00 invested = $2,000
The sole customer who selected the winning combination for the 25% Flexi investment receives a dividend of $500 and the remaining $500 jackpots into another pool as per TAB policy.
If no customer selects the correct winning combination for any percentage, the entire net payout pool will carryover into another pool as per TAB policy.
Flexi Betting has no impact on the current dead heat rules and in the event a dead heat occurs, each combination will have a separate dividend, and will be paid as a proportion of the full dividend.
Current cancellation policies for Trifecta, Quartet and Quaddie investments placed in retail outlets or via phone and / or Internet account betting remain unchanged with the introduction of Flexi Betting.
Address:
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Osborne Park WA 6017
Email: info@rwwa.com.au
Phone: (618) 9445 5333
Fax: (618) 9244 5914
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