KINGSTON, Jamaica – With fixed odds betting set to officially begin on Saturday, December 3, 2022, at Caymanas Park, Quickgallop.com thought it fit to provide all the information possible for its viewers on this new wagering option.
The following are common questions and answers about fixed odds betting provided by BetMarkers, implementors of the system in Jamaica along with the promoting company Supreme Ventures Racing and Entertainment Limited.
WHAT IS FIXED ODDS BETTING?
Fixed odds is the most popular bet type globally in countries it exists in – quite simply, the price you back a horse at, is the price you get! Markets fluctuate all throughout betting with the key to trying to secure the best price as the market moves around.
WHAT BET TYPES CAN I HAVE WITH FIXED ODDS?
Win and place, with place paying out first, second and third with fields of seven or more runners and first and second for less than that. In the event the field is reduced to three or less runners, all place bets are refunded.
WHERE AT CAYMANAS PARK CAN I PLACE A FIXED ODDS BET?
Betting windows and teller operators are available at all betting zones throughout the park.
ARE FIXED ODDS WINDOWS FOR JUST FIXED ODDS BETTING:
At this time fixed odds transactions can be handled only at dedicated fixed odds terminals and tote transactions remain available through the tote terminals.
HOW EARLY CAN I BET FIXED ODDS?
In the launch phase, fixed odds bets will be available on track only, one hour before the first race. Bets can be placed on any race during the day. As the fixed-odds rollout continues, betting will open at least 24 hours before a race day
IS THERE A LIMIT TO HOW MUCH I CAN BET?
Yes. Caymanas Park will accept wagers for which the customer can win up to $750,000, with an overall maximum bet of $100,000 per ticket.
The $750,000 win limit is discretionary, so if you would like to bet to win beyond that, please see one of the fixed-odds customer service team. The minimum bet is $100.
WHERE CAN I VIEW FIXED ODDS MARKETS?
Odds screens for both the next race to go and all races for the day are located throughout the course, generally near the fixed odds betting windows.
You can also view them online at caymanasracing.com
WHAT ODDS FORMAT ARE FIXED ODDS DISPLAYED IN AND HOW DOES IT WORK?
Fixed odds are displayed in decimals, which provide the easiest way to calculate odds. Very simply, the odds are displayed as what you collect for every dollar you bet.
For example, if a horse is 3/1 in fractional odds, its decimal price is $4 because the stake is included in the price for $1.
What you collect from a winning ticket is simply the multiple of the decimal price of the horse and how much you bet.
IF MY HORSE IS SCRATCHED AFTER I PLACE A BET, DO I GET MY MONEY BACK?
Yes. If a horse is scratched, any bets that have been placed prior are refunded. Visit one of the designated fixed odds betting windows for your refund anytime after the scratching is official
DO DEDUCTIONS APPLY TO THE RUNNERS LEFT IN THE RACE IF ANY SCRATCHES TAKE PLACE?
Yes. Apart from a dead heat, this is the only time the payout printed on a ticket may change. In order to be able to refund bets on a scratched horse, the market needs to factor in that scratched horses are no in the betting market.
Therefore, for every individual price, there is a specified cent in the dollar adjustment that applies to all bets taken prior to the scratching on runners still in the race.
The full schedule of deductions can be viewed with the Caymanas Park House Rules, available at the track or at caymanasracing.com
WILL OTHER VENUES ADDITIONAL TO CAYMANAS PARK BE AVAILABLE FOR FIXED ODDS BETTING
Yes. Once the initial launch phase has passed, many tracks from all around the world will be available to be bet on
WHERE CAN I FIND THE HOUSE RULES?
House rules are available behind the teller windows or online at caymanasracing.com