When you make a fixed-odds bet, you are making a wager at a fixed price that is being offered by us. Once the bet has been accepted, you are guaranteed to get that price - even if the odds offered shorten after the bet has been made.
Fixed-odds bets are offered on selected races only. Rule 4 deductions can still take place, if any of the horses are subsequently declared to be non-runners.
Each Way Terms
The standard Each Way Terms apply and are determined by the number of actual starters, and not by the number of the declared runners when the price is laid. For ante-post bets special place terms might apply when stated at the time of placing the bet.
Should a runner become a non-runner, run "without bets", or is not eligible to run, all bets on such selection shall be deemed lost unless it is stated in the market that the Rule 4 applies.
Should a horse be withdrawn without coming under starters orders in an fixed-odds market where it is stated that the Rule 4 applies, stakes on that selection will be returned, with bets on other runners in the race being subject to a deduction in accordance with Tattersalls' Rule 4, based on the price of the non-runner at the time it is withdrawn. However, if the market has been re-formed because of an earlier non-runner, then the deduction for bets placed in the original market will be based on the latest fixed-odds offered for the non-runner in that market. If the Rule 4 is applied in markets where the withdrawal time of non-runners is not announced, the last published fixed-odds of the non-runner are used as base for the deduction.
For abandoned races, bets shall remain valid if the race was postponed and rescheduled within 48 hours (ante-post bets: 14 days) on the same track and the entries have not been re-opened. Otherwise, the bets shall be voided and the stake money refunded.
If no totalisator betting is offered or all tote bets are voided for technical reasons, fixed-odds bets shall retain their validity, provided that an official race result is determined.
If the Rule 4 applies, in the event of a false start etc. resulting in a race being re-run, 'under orders' is negated and stakes will be refunded on horses taking no part in the re-run, with returns on the remaining runners subject to Tattersalls' Rule 4. Place terms are governed by the number of runners taking part in the re-run.
Change of conditions
If the general conditions for a race such as the racetrack, surface, or distance be changed by the operator, RaceBets shall be entitled to void any fixed-odds bets before the start of the race and refund the stake money.
In a Dead Heat, the stake money on a selection is divided by the number of runners involved in the Dead Heat. The full odds are then paid to the divided stake with the remainder of the stake money being lost.
In the event of a walkover, a race involving only one runner, all fixed-odds bets shall be voided and the stake money refunded.