How a Race Night Works
An Overview Of what's is involved in hosting a Race Night Fundraiser
Page 3 Of 3
Table Of Contents:
- Selling The Horses
- Sponsors
- Venue And Date
- Race Card
- Promoting The Night
- Auction Race
- Betting And Payout
- Calculating The Payout
Betting And Payout
On the night you will have 2 or 3 bookies (committee members) at a table taking bets on each horse. Each of these bookies will be taking bets on different No. horses e.g Mary is looking after horse numbers 1- 2 - 3 John is taking care of horse numbers 4 - 5 - 6 - and jim 7 & 8. One other member is the cashier and looking after the calculations and Payout.
The audience is invited to place their bets and the minimum bet is one euro, example if a punter wants to bet three euro on a horse number five, they get 3 tickets (one for every euro bet). Punters can bet on as many horses as they like. When the betting is over and the race is off, at a glance the bookies will know how many tickets have been sold for each horse. This informtion is written up on the tote sheet and passed onto the cashier who in turn calculates the winning payouts on each winning ticket.
"Note: There is no 2nd or 3rd place payment"
The MC announces (EG) the winner of the last race was horse No. 5 and each winning ticket pays 9 euro and please collect their winnings from the cashier before the start of the next race coming up shortly.
Calculating The Payout
The tote sheet the cashier gets from the bookies will look something like this:
Horse Number |
Ticket Start No. |
Ticket |
Number of Tickets Sold |
|---|---|---|---|
1 |
01 | 32 | 31 |
2 |
01 | 19 | 18 |
3 |
01 | 25 | 24 |
4 |
01 | 26 | 25 |
5 |
01 | 11 | 10 |
6 |
01 | 27 | 26 |
7 |
01 | 28 | 28 |
8 |
01 | 20 | 19 |
50/50 is the norm |
Total Number Of Tickets Sold |
180 | |
Total For Club/Charity |
€90 | ||
Payout To Punters |
€90 | ||
Winning Horse Number |
5 | ||
Number Of Winning Tickets Sold |
10 | ||
Each Winning Ticket Pays |
€9 | ||
The Cashier completes the bottom section of this sheet when he/she gets it back from the bookies. As you can see the payout to the punters is €90, this is divided by 10 winning tickets on horse no 5 which gives €9 on every winning ticket. the MC can call it at 9 to 1 which includes the stake back.
The odds wont always be as high as above, the average would be 3/1 to 5/1 or there abouts. If the horse no7 has won (as above) the payout on each ticket would be €3 round the figures up or down to make it easier for the payout NO CENTS.
"Dont forget the bookies cannot loose, they keep 50 cents from every euro bet"
