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V5

Description

Select the winners in five races. Dividends are payable for correct forecasts of the winners in 5 races. V5 bets can be placed for as little as 20 cents if you select one horse in each of the five nominated V5 races (legs). If no one picks the winners in 5 races then the dividend is paid for picking winners in 4 races, and so on. You can also select up to two further horses, on each leg, as reserve selections, which apply if your selection is scratched. If you do not select any reserves then the standard substitutes will apply.

Minimum Bet

20 cents

When

V5 meetings are held early in the morning Tuesday through Saturday with betting commencing the day before of the meeting. Betting on the V5 pools closes the day before the meeting is held - approximately 30 minutes after the last regular race meeting on TABOzbet which is when the RWWA betting system shuts down for regular maintenance. This time can change daily depending on the TABOzbet race meetings and specific sporting events.

Types

Single V5

Select one runner to win in each leg of the 5 races.

Multiple V5

Select multiple runners to win in any leg of the 5 races.

Calculating the Cost of your V5 Ticket

Firstly, calculate the number of combinations by multiplying the number of selections in each leg. See the following calculation:

Then, multiply the number of combination by the minimum bet cost to get the total cost of the bet.

Dividends

Final dividends are declared for 20 cents while the Win Div is expressed as the odds to 1.

Scratchings, Reserves and Substitutes

If one of the selections in a ticket is scratched another horse will take its place, this is known as a Substitute. The scratched runner will be replaced by your first reserved selection; if that runner is also scratched then your second reserved runner will be the replacement. If you have not selected a reserve a substitute is picked based on the ranking of each horse's last five races. If the ticket already contains the Substitute then the runner ranked second will be the replacement. This will continue until all the scratched runners are replaced.

Jackpots

None

Dead Heats

If there is a dead heat for first place between two or more horses, then each horse shall be considered the winner.

Abandoned or Postponed Races

If a race is re-run or held at a later date, within three days after the date presented in the race program, then the result of that race will be included in the betting.

In the event of a race being cancelled no repayment of investments will be made. If however the race is abandoned or declared void, investments will be repaid.

Commission Rates

A commission rate of 35% is currently deducted from gross investments.