Horse Racing Tips: The Ultimate Jackpot Guide
Here you’ll learn everything you need to know about how to take a Jackpot, a bet which requires you to pick four winners in four consecutive races!
Before we get started make sure to watch the video below:
What is a Jackpot?
The Jackpot is an exciting bet that requires punters to pick the winners of four consecutive races. Often during big race days like the Vodacom Durban July, you will find that there are two jackpots on offer. This normally isn’t the case, however, but it’s something to keep in mind.
There are two different types of Jackpots that punters can take – the straight line jackpot or the permutation. We’ll break them down below Iin a bit more detail.
Straight Line Jackpot
A straight line jackpot is when you pick one horse in each of the four legs. This bet will cost you R1 to take once. By taking the bet once, you will receive the full dividend should your bet win. You are also able to take the bet multiple times. If you spend R4 and win, you will the dividend four times over. You can take The below is an example of a straight line jackpot:
Leg 1 – 4
Leg 2 – 8
Leg 3 – 1
Leg 4 – 11
Permutation Jackpot
As we mentioned a bit earlier, you can pick more than one horse in each leg of your jackpot. This is referred to as a permutation (when you select a number of horses that win in each of the four legs).
By selecting more horses, you need to remember that it will cost you more to take the bet for a chance to win the full dividend. Let’s take a look at the below bipot permutation:
Leg 1 – 2, 5, 6
Leg 2 – 1, 3
Leg 3 – 5, 7, 9
Leg 4 – 6, 8, 1
Perm = R54
The above permutation is worked out by multiplying the number of horses in the various legs by each other. In this scenario the equation was calculated as follows: 3 x 2 x 3 x 3 which worked out to R54.
The bet can either be taken multiple times or as a percentage. We’ll explain these two concepts a bit further below:
Multiple Times
If the bet mentioned above was taken for R54 you would catch the bet 1 time. That means that if the dividend was R25 000 then you would win R25 000.
You can also take the bet for more than the full bet amount. For example, if you struck the bet for R108 it would mean that you catch the bet 2 times. This means that you would win the dividend multiplied by two, so in this case: R50 000.
Percentage
Using the scenario above, if you take the bet for R5.40 it would mean you would receive 10% of the dividend should you win. In this case, 10% of the dividend would equate to R2 500.
It’s this flexibility that made bets like the jackpots, bipots, place accumulators and pick 6s so popular. You don’t need to spend a lot of money for a chance to win a tidy pile of winnings.
Betting Rules
As is the case with any bet type, there are some rules that you’ll need to familiarise yourself with before diving in.
Scratchings
If the horse that you have in your Jackpot gets scratched, your selection will be replaced by the eventual tote favourite as declared by the TabGold website.
Jackpot Carryover
In the event that the Jackpot is not won by 1 full ticket holder, the pool then carries over to the biggest event of that particular week which normally is the weekend’s race meeting. For example, if the Jackpot pool for Wednesday’s meeting is R500 000 and only 10% of the pool is won (R50 000), it means that R450 000 will be carried over to the next big meeting chosen by Tab.
Maximum payout
Hollywoodbets Open Bet
Winning limits for open bets will apply to all open bet jackpots. The maximum payout for this type of bet will be limited to the total net pool limit of the local SAFTOTE pool.
Tote Bet
When switching over to the tote with the button provided on the Hollywoodbets website and mobisite, you now can take a bet where the payout is limited to the rules stipulated by the TabGold website.
The difference between Open Bets and Tote Bets
An Open Bet is a tote/TAB type bet taken with a bookmaker. The bookmaker – in this case, Hollywoodbets – lays the bet, and pays the dividend as declared by the tote on the winning combinations.
No fixed odds are agreed at the time the bet is placed. The winnings and therefore the payout is determined after the outcome of the event on which the open bet was struck becomes known, with reference to the dividends generated by the totalizator.
Tote betting works by a player betting into a cumulative pool that also includes other punters. The payout is then shared among all of the winning players – this is referred to as a dividend. Remember that the total amount that gets paid out is determined by the number of people who won the pot.
