Please see our Betting Rules and Racing Rules for our official rules for Racing markets.
RACING ODDS TYPES
Fixed Odds
‘Fixed odds’ are the odds set by Picklebet on a specific runner at the time a bet is placed. Fixed odds bets are subject to Deductions.
Starting Price (SP) Odds
SP Odds may be offered before any Fixed Odds market is released.
Bets placed with SP Odds are settled at the final Fixed Odds for a selected runner available on Picklebet’s Fixed Odds product when betting closes for the final time. This may be at the scheduled start time of the race, the time a race officially starts, or slightly after the start of a race at Picklebet’s sole discretion.
Although SP Odds are based on a final fixed price, it is still possible for bets placed with SP Odds to have Deductions applied should another runner in the field be declared a scratching after betting has closed for the final time.
Minimum bet limits do not apply to bets with SP Odds as there is no option to ‘fix’ a price retrospectively once the bet is taken.
RACING BET TYPES
Win Betting
A Win bet is a bet that your selected runner will finish in 1st place. Dead Heat rules and Deductions rules apply.
Place Betting
A Place bet is a bet that your selected runner will finish in a top position.
Place bets may be offered as Fixed Place and Fixed Top ‘X’ type bets. Dead Heat rules and Deductions rules apply.
Fixed Place Bets
For a Fixed Place bet your selected runner must finish in a paid position for a place dividend to be paid. Dead Heat rules and Deductions rules apply.
The number of paid positions will depend on the number of runners in the race at the time Odds are fixed. Where a bet is placed with Fixed Odds, the number of paid positions is determined based on the field size at the time the bet is placed. Where a bet is placed with SP Odds, the number of paid positions is determined based on the field size at the time betting closes for the race.
Field size when odds fixed | Paid positions |
8 or more runners | 1st, 2nd and 3rd places |
7, 6 or 5 runners | 1st and 2nd places |
4 or less runners | n/a |
No Fixed Place betting is available for races with less than 5 runners. If a bet is placed with SP Odds and the field is reduced to less than 5 runners at the time Odds are fixed, the bet will be Void and the stake will be refunded to your Account.
Example 1 - You placed a Fixed Place bet with Fixed Odds when there are 8 runners in the field. If there are no scratchings, the bet will be paid if your selected runner finishes in 1st, 2nd or 3rd place. If there are scratchings after you placed the bet, the bet will be paid if your selected runner finishes in 1st, 2nd or 3rd place but Deductions will apply.
Example 2 – You placed a Fixed Place bet with SP Odds when there are 8 runners in the field. There are 2 scratchings before betting closes, and your SP Odds are fixed based on 6 runners in the final field. The bet will be paid if your selected runner finishes in 1st or 2nd place.
Example 3 - You placed a Fixed Place bet at SP Odds when there are 6 runners in the race. There are 2 scratchings after bet placement and 4 runners remain in the final field. As there are less than 5 runners remaining, the bet will be Void and the stake refunded to your Account.
Fixed Top “X” Bets
For a Fixed Top “X” bet your selected runner must finish in a position either equal to or better than the top “X” position you selected for a place dividend to be paid. For example, if you select a runner to finish “top 2”, the runner must finish in either 1st or 2nd place for a dividend to be paid. Dead Heat rules and Deductions rules apply.
Fixed Top “X” bets will only be available on races with 4 or more runners at the time the bet is placed. Bets placed with SP Odds which have less than “X+2” runners at the time Odds are fixed will be Void and the stake refunded to your Account.
Example 1 – You placed a Fixed Top “X” bet for a ‘top-3’ place at Fixed Odds when there are 5 runners in the race. One runner is scratched after bet placement and 4 runners remain in the final field. The bet will be paid if your selected runner finishes in 1st, 2nd or 3rd place but Deductions will apply.
Example 2 – You placed a Fixed Top “X” bet for a ‘top-4' finish at SP Odds when there are 8 runners in the race. There are 2 scratchings after bet placement, and your SP Odds are fixed based on 6 runners in the final field. The bet will be paid if your selected runner finishes in 1st, 2nd, 3rd or 4th place.
Example 3 – You placed a Fixed Top “X” bet for a ‘top-3’ finish when there are 5 runners in the race. There are 2 scratchings after bet placement and 3 runners remain in the final field. The bet will be Void and your stake returned to your Account.
Example 4 – You placed a Fixed Top “X” bet for a ‘top-3' finish at SP Odds when there are 6 runners in the race. There are 2 scratchings after bet placement and 4 runners remain in the final field. There are less than “X+2” runners remaining, so the bet will be Void and your stake refunded to your Account.
Racing Multi-Bets
Racing Multi bets allow you to combine a number of racing selections across different races into a single bet, with each individual selection referred to as a ‘leg’. Dead Heat rules and Deductions rules apply.
Racing legs can only be combined with other racing legs for a Multi-bet, and cannot be combined with sports or esports legs.
Same-Race Multi
Same-Race Multi bets allow you to combine up to 4 different selections on a race into a single bet. Dead Heat rules and Deductions rules apply.
Same-Race Multis are available on select Australian and international thoroughbred, harness and greyhound races only. Where available, Same-Race Multis are available approximately 1 hour before a race meet commences (local track time for the day’s racing), or following confirmation of Fixed Odds for the race, whichever is the latest.
Same-Race Multis will only be available for races with 6 or more runners at the time the bet is placed. If the race field at the time of resulting has 4 or less runners, or a selected runner is scratched, the entire Same-Race Multi will be void. If at the time of resulting the field has 5 or more runners, the Same-Race Multi will stand and Deductions rules will apply. Odds for Same-Race Multis are calculated based on the inter-relation of the selections in the bet and will not represent the multiplication of odds for each leg.