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Horse Racing Betting Terms - MonkeyTilt

Horse Racing Betting Terms

Huling na-update January 22, 2026

Bet settlement

Bets will be settled on the official result after the weigh-in given to us by the provider. A selection that fails to complete the race will be considered for settlement purposes to have finished last.

Where statistics from an official provider are unavailable or there is specific evidence that the official provider is incorrect, we will use independent evidence to support the settlement of bets. 

Win (and Each-Way) bet

Bets are settled to win unless ''Each-Way'' is selected.

The minimum required number of participants for Win Bet is two (2).
An Each-Way bet is for 2 times selected the same bet per bet. It contains a stake bet on the option to 'Win' and a bet of the same stake on the option to 'Place', in accordance with the advertised terms for the event. The Placement portion of Each-Way bets will be settled according to the following Placement terms:

Number of Entrants

Format

EW Place Parameters

16+

Handicap

4 places, 1/4

12-15

Handicap

3 places, 1/3

8+

All Races (8-11 if handicap)

3 places, 1/5

5-7

All Races

2 places 1/4

2-4

All Races

1 place 1/1
(EW part will be placed on winner)


In all races, the number of entrants will be the number of those on the starting lines.

Bets on Non-Runners will be voided. Dead heat rules apply.

When betting on fixed odds, if another participant becomes a non-runner then the following deductions will apply on the net winnings. Subsequently the place part of the EW bets are calculated based on the deducted winnings.

Odds of at the time of withdrawal

Deduction on Net Winnings

odds ≤ 1.1112

90%

1.1112 < odds ≤ 1.1819

85%

1.1819 < odds ≤ 1.25

80%

1.25 < odds ≤ 1.30

75%

1.30 < odds ≤ 1.40

70%

1.40 < odds ≤ 1.5334

65%

1.5334 < odds ≤ 1.6154

60%

1.6154 < odds ≤ 1.80

55%

1.80 < odds ≤ 1.9524

50%

1.9524 < odds ≤ 2.20

45%

2.20 < odds ≤ 2.50

40%

2.50 < odds ≤ 2.75

35%

2.75 < odds ≤ 3.25

30%

3.25 < odds ≤ 4

25%

4 < odds ≤ 5

20%

5 < odds ≤ 6.5

15%

6.5 < odds ≤ 10

10%

10 < price ≤ 15

5%

price > 15

No Deduction

 

If multiple participants become non-runners the total deduction will never surpass 90%.

Bets using Starting Price (SP) will be settled using the last quoted price (odds) before the start of the race.

Place bet 2/3/4

A place bet is won if the selection is ranked in the first 2/3/4 positions of the race depending on the parameter of the place bet.
Bets on non-runners will be voided. Dead heat rules apply.
If other participants become non-runners, the following deductions will apply on the net winnings of the bet:

Odds of at the time of withdrawal

Deduction on Net Winnings

 

2 places

3 places

4 places

odds ≤ 1.1112

45%

30%

20%

1.1112 < odds ≤ 1.1819

40%

30%

20%

1.1819 < odds ≤ 1.25

40%

25%

20%

1.25 < odds ≤ 1.3

35%

25%

20%

1.3 < odds ≤ 1.4

35%

25%

15%

1.4 < odds ≤ 1.5334

30%

20%

15%

1.5334 < odds ≤ 1.6154

30%

20%

15%

1.6154 < odds ≤ 1.8

25%

20%

15%

1.8 < odds ≤ 1.9524

25%

15%

10%

1.9524 < odds ≤ 2.2

20%

15%

10%

2.2 < odds ≤ 2.5

20%

15%

10%

2.5 < odds≤ 2.75

15%

10%

10%

2.75 < odds ≤ 3.25

15%

10%

No Deduction

3.25 < odds ≤ 4

10%

10%

No Deduction

4 < odds ≤ 5

10%

No Deduction

No Deduction

odds > 5

No Deduction

No Deduction

No Deduction

 

In case of Multiple non-runners total deduction can never surpass 90%.

There are cases where the Place-3/4 market is no longer offered after a non runner. For example a bet may be placed at the place-3 market but after a non-runner only the place-2 market is offered. In that case net winnings will be deducted according to the place-2 market using the table above.

Place-4 will be voided if the remaining participants are 5 or less

Place-3 and Place-2 will be voided if the remaining participants are 4 or less

Forecast bet

Forecasts are accepted for all races of 3 or more active participants and are settled as a straight forecast (picks to finish 1st and 2nd in exact order), according to the computer's straight forecast dividend. If there are less than 4 active participants, then all forecasts for that race will be void.

Where a customer selects combined ABC forecasts and bets on 6 bets, this will be settled as 6 straight forecasts as follows:

AB, BA, AC, CA, BC, CB

If any forecast includes a Non-Participant, then the bet will be voided.

In races where a horse/dog finishes alone and no forecast dividend is returned.

In the event that two or more horses/dogs finish together for 1st or 2nd place, then separate dividends will be declared and paid for each successful forecast. If separate dividends are not declared then dead heat rules will apply.

Tricast bet (Horse Racing)

Tricasts are accepted for Handicap races of 6 or more declared runners and are settled as a straight tricast (picks to finish 1st, 2nd and 3rd in exact order), according to the computer's straight tricast dividend. If there are less than 4 active participants, then all tricast for that race will be void.

If any tricast includes a Non-Participant, then the bet will be voided.

In the event that two or more horses/dogs finish together for 1st, 2nd or 3rd place then separate dividends will be declared and paid for each successful tricast. If separate dividends are not declared then dead heat rules will apply.

Tricast dividends will be also available for major events regardless of race type, depending on the provider.

Dead Heat Rules

Where selections are dead-heat, the stake is spread equally over the number of such selections and is paid at full odds.

 

Example 1.
Market = Win. Suppose that a bet is placed with stake 30u at odds (6.0) to win 180u.
- Dead heat of 2 participants in the first place would result in rankings: 1-2, 1-2, 3rd, 4th etc. In that case the return would be 180/2 = 90u
- Dead heat of 3 participants in the first place would result in rankings: 1-3, 1-3, 1-3, 4th etc. In that case the return would be 180/3 = 60u

Example 2.
Market = Place(3 places). Suppose that a bet is placed with stake 30u at odds (3.0) to win 90u.

- Dead heat of 2 participants in the first place would result in rankings: 1-2, 1-2, 3rd, 4th etc. In that case the return would be paid in full.

- Dead heat of 2 participants in the third place would result in rankings: 1st, 2nd, 3-4, 3-4, 5th etc. In that case the return would 90/2 = 45u

- Dead heat of 3 participants in the second place would result in rankings: 1st, 2-4, 2-4, 2-4, 5th etc. In that case the return would 90 * (⅔) = 60u

 

Postponed/Rescheduled Races

If a race is postponed or rescheduled for later on the same day (based on the datetime of the venue) and the final entries stand then bets stand. However,  bets on the race will  be void if:

The race is abandoned.

The race is officially declared void.

The race has only one runner (walkover)

Race conditions subject to change after bets have been validated.

The track changes.

Race surface changed (eg Turf to Dirt/All Weather or vice versa).

The race is rescheduled for another date (base on datetime of the venue)

Reruns

In the event that an invalid start, etc. result in a re-running of the race, the lines at the start will not be taken and bets will be refunded on horses/dogs not taking part in the second race. Refunds on remaining horses/dogs are subject to price deductions. The number of participants taking part in the second race is the number of entrants.