New casino-like odds & evens bets to fund million dollar NSW race

NSW has moved dangerously close to legalised online casino gambling on racing with the introduction of a new bet type that closely aligns in format to Two Up but resembles Roulette.

The new bet type is unashamedly aimed at punters who don't have the time, can't be bothered, or refuse to do the hard yards of doing racing form; and those that don't even understand the broader concepts of greyhound betting, racing and gambling.

Odds & Evens is an entry level bet type that requires no knowledge of racing or gambling at all to participate; just like many casino games or playing pokies.

The Odds & Evens bet allows racing punters to bet on the outcome of the first two placegetters in a race being both even numbered, both odd numbered, or a split of odds and evens. Swap the outcomes of Odds and Evens for Head and Tails. Does it sound like legal Two Up yet?

The new bet type appears to be targeted primarily at punters who have no idea, are pushed for time or the traditional last gasp punter, who puts his last two bob on the roulette wheel in a bid to pay the rent. Did we mention the new Odds and Evens greyhound bet even incorporates a roulette wheel? Just push the “Spin” button feature in Odds & Evens and you don't even have to do the tedious work of selecting Odds, Evens or Split – the Odds & Evens “roulette” wheel will do it for you!

The new Odds & Evens bet type launches live in the NSWTAB online platforms and apps today and will fund the ongoing NSW greyhound Million Dollar Chase race, the $7.5 Million Golden Eagle horse race, and a yet to be announced $1 Million harness race.

GRNSW CEO Tony Mestrov was excited about the new bet type product for greyhound racing, “It (Odds & Evens) suits greyhound racing perfectly with the eight runners.

“Our demographic is the 18's to 34's. This falls right into that demographic and obviously we're trying to capture the older demographic as well” he said.

The Odds & Evens bet type is promoted as having a much lower take out than other bet types, which according to the TAB will provide higher dividends to the punter. The bet type is a pari-mutuel bet which means outcomes are not fixed but will change depending on the amount invested on each of the three selections right up until race start time.

The TAB did not state what the lower take out percentage would be, nor if the new Odds & Evens bet would be available to their VIP rebate punters. The question remains unanswered as to how the TAB's VIP punter rebate percentages might affect dividends to casual punters given the lower take out.

The TAB claim that Odds & Evens will utilise merged pool technology to maximise the liquidity of Odds & Evens by merging the pool with Quinella betting pools. The TAB did not say how Odds & Evens betting will affect traditional Quinella betting outcomes and dividends.

Punters should be aware that Odds & Evens bets are NOT refunded in the event of scratchings.

How Does Odds & Evens Betting Work?

• Odds – Both first and second place would be odd numbers
• Evens – Both first and second place would be evens numbers
• Split – The first and second place are odd and evens numbers
• Example:
  If the first two placegetters in a race are numbers 3 and 5, then punters who had backed Odds will win.
  If the first two placegetters in a race are numbers 8 and 2, then punters who had backed Evens will win.
  If the first two placegetters in a race are numbers 5 and 8, then punters who had backed Split will win

HOW DO I PLACE AN ODDS & EVENS BET?

Visit the race on the TAB app, TAB.com.au or an EBT, and select “Odds & Evens” from the bet type menu. Pick your selection and submit your bet.

Can't decide? Change from the list view to the wheel view on digital channels and spin the wheel for a randomised suggestion!

IS ODDS & EVENS AVAILABLE WITHIN ALL TAB JURISDICTIONS?

Odds & Evens is available for NSW TAB customers.

IS ODDS & EVENS AVAILABLE ON ALL RACING CODES?

Initially, Odds & Evens will only be available for selected trial meetings. Odds & Evens will then be available on all Australian Thoroughbred, Harness and Greyhound races.

IS ODDS AND EVENS A FIXED ODDS BET?

No, Odds and Evens is a pari-mutuel bet powered by a new innovative Tote platform Merged Pool Technology.

HOW MANY STARTERS IN A RACE ARE REQUIRED TO BE ABLE TO PLACE AN ODDS & EVENS BET?

A minimum of 2 runners with odd saddlecloth numbers and at least 2 runners with even saddlecloth numbers.

WHAT HAPPENS IF A RUNNER IS SCRATCHED?

Unlike other bet types, there are no refunds in the event of scratchings, unless a scratching results in there being less than 2 contestants with even numbers and 2 contestants with odd numbers remaining in a race.

CAN I USE MY MULTIPLIER ON MY ODDS & EVENS BET?

No.

CAN I PLACE AN ODDS & EVENS BET AT THE TRACK?

Yes in NSW. You can place an Odds & Evens bet on an EBT or with an oncourse operator.

WHY DOES THE ODDS & EVENS PRICE VARY BETWEEN RACES?

Odds & Evens is a pari-mutuel bet and therefore the odds fluctuate right up to race start time. Final dividends will be declared after the race.

WHAT HAPPENS TO MY ODDS & EVENS BET IN A DEAD HEAT?

If two runners dead-heat for first place, those two runners are the winning combination for Odds & Evens.

In the case that three or more runners dead-heat for first place, or there is a dead-heat for second place, the dividend pool will be divided as many parts as there are winning odds and evens combinations.

WILL THERE BE ANY MONEY IN THE TOTE POOL FOR ODDS & EVENS?

Yes! Thanks to Merged Pool Technology, the Odds & Evens pool will merge with the Quinella pool. This will result in greater pool liquidity, dividend stability and confidence to bet for both the Quinella and Odds & Evens.

DOES MERGING THE ODDS & EVENS POOL WITH THE QUINELLA POOL AFFECT MY PAYOUT?

When the bet types merge together a larger, more stable pool is created. The merged dividend pool will be divided among the dividend pools relative to each pool's proportion of investment in the winning combination.

WHERE CAN I FIND HOW MUCH IS IN THE ODDS & EVENS POOL VS THE QUINELLA POOL?

The Odds & Evens pool will merge with the Quinella pool via our new innovative technology Merged Pool Technology. This will be displayed as one consolidated pool in digital displays (including EBTs and through online channels).