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Letter of the Week

Quaddie query

 

Can somebody set me straight on the quaddie payouts please? Before flexi betting, if you were the only one that got the quad for 50 cents, you won the entire pool.

Now, if you take a quaddie for 50 cents (not a flexi percentage) and you are the only one to get the quaddie, do you win the pool or half the pool?

Also, if two punters get the quaddie, the first punter for 100 percent and the second for 25 percent, is the entire pool paid out? Or the first punter gets half the pool, the second punter gets a quarter of the other half and the rest jackpots?

• Tabcorp replies: The answer to Peter’s first query comes back to the fact the TAB declares quaddie dividends for $1.00 but the base unit remains 50 cents. So if the equivalent of 50 cents is won, then the entire net pool is won and there is no jackpot.

With flexi betting, if anything less than a 50 cent unit is won, the proportion remaining (up to 50 cents) jackpots.

Of course, prior to flexi betting you could have nothing less than a 50c bet so if there were any winners, the entire net pool was won and the size of the dividend depended on the amount of winning investments.

In the second scenario Peter has put forward, the entire net pool would be paid out and there wouldn’t be any jackpot amount.

Let’s say in this case that the net quaddie pool was $100,000. The TAB would divide the pool by 125 percent (the total percentage of the two bets) to declare a dividend of $80,000. The first punter, who had 100 percent, would get $80,000 and the second punter, who had 25 percent, would get $20,000 (25 percent of the dividend). These two collects equal the total net pool.

Peter Townsend
Mordialloc (Vic)
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