Horse Racing

a) Dead Heats

If two or more horses dead heat for any place, an average will be applied. For example, if, in a bet involving the starting prices of the winners, two dead heating horses had starting prices of 2/1 and 4/1, the starting price of the winner would be considered to be 3/1. The winning distance in a dead heat would be zero.

b) Race Card Numbers

This is a market about the total of the race card numbers of the winning horses at a race meeting, and the bet concerns the aggregate of the race card numbers, doubled for convenience. For example, if there were six races and the winning numbers had been 3, 4, 5, 6, 7 and 8, a total of 33, the result would be 66.

c) Aggregate Starting Prices

This is a market about the total of the race card numbers of the winning horses at a race meeting, and the bet concerns the aggregate of the race card numbers, doubled for convenience. For example, if there were six races and the winning numbers had been 3, 4, 5, 6, 7 and 8, a total of 33, the result would be 66.

Where no SP is returned the make-up for the race will be 1.

d) Match Betting

Where there is a bet about the distance between two specified horses in a race at the finish (but see under Horse Racing (e) for bets on aggregate distances) the maximum distances for the purpose of these bets will be 12 lengths in the case of Flat racing and 15 lengths for National Hunt races. For distances below a length, the following will be applied:

Nose 0.05
Short head 0.1
Head 0.2
Short-neck 0.25
Neck 0.3
Half a length 0.5
Three quarters of a length 0.75

For the purposes of such bets the distance between the horses will be the officially declared distance of those horses which have completed the race and followed the correct course. If any horse in a match bet does not come under starter's orders, any bets on that match, whether open or closed, shall be void. If one horse in a match fails to complete, or takes the wrong course, the other will be considered to have won the match by the maximum distance. If both horses fail to complete, or take the wrong course, all bets on that match, whether open or closed, shall be void.

Any subsequent disqualification, stewards' enquiry or amendment shall affect bets only if a) it determines that one or more horses failed to complete the correct course, or b) the official distances are amended by the judge. The settlement of bets will only be affected if such a disqualification or amendment takes place on the day of the race.

If no official distances are declared, the distances between the horses will, subject to the maximum distances set out above, be determined by the number of places between them multiplied by two lengths per position.

e) Aggregate Distances

When there is a market on the aggregate of the winning distances on racing at a particular meeting, the same rules will apply as with match betting (see Horse Racing (d) above), except that the maximum winning distance shall in the case of a Flat race be considered to be 12 lengths and shall in the case of a National Hunt race be considered to be 30 lengths. In the case of a horse finishing alone, or winning by "a distance", the distance will be settled as 12 lengths in a Flat race and 30 lengths in a National Hunt race. For the avoidance of doubt, the winning distance in a race will be the officially declared distance between the first two horses which have completed the race and followed the correct course.

f) Favourites Index

This is a market on the performance of the favourites for a day's racing at a particular meeting. Unless otherwise stated, the quotation is made on the basis that the horse which is the SP favourite is awarded 25 points if he wins, 10 points if he is second and 5 points if he is third. If there are joint or co-favourites in a race, the horse with the lowest race card number is considered, for the purposes of the bet, to be the favourite. If the returned favourite (as published in the following day's tabloid edition of the Racing Post) has not come under starter's orders then, for the purposes of the bet if its price at the time of withdrawal is:

Equal to or greater than 5/1, 5 points will be awarded
Less than 5/1 but greater than evens, 10 points will be awarded
Evens or less, 15 points will be awarded.

If the returned favourite (as published in the following day's tabloid edition of the Racing Post) in the last race on the card does not come under starter's orders, bets on the favourites index struck subsequent to the previous race shall be void.

In the event of no SP being returned the favourite will be deemed to be the shortest price horse in the tabloid edition of the Racing Post betting forecast to come under starter's orders.

g) Jockey Index

Unless otherwise stated, bets on the performance of a jockey at a race meeting work on the same principles as those on favourites (see Horse Racing (f) above). 25 points are awarded for a winner, 10 points for a runner up, and 5 points for a third.

If for any reason the jockey on whom the bet was made does not ride his intended mount in a race, but the horse still runs, then, for the purposes of the bet, the horse still counts as if it had been ridden by the "intended" jockey. The intended mount will be taken to be the horse published in the Racing Post on the day of the race as to be ridden by the jockey concerned.

If the jockey rides any horse which, according to that day's tabloid edition of the Racing Post, he was not scheduled to ride, that ride does not count for the purpose of bets on that jockey.

If the jockey has a non-runner then, if no betting show has been passed by SIS, if the SP forecast for that horse given by the Racing Post is:

Equal to or greater than 5/1, 5 points will be awarded
Less than 5/1 but greater than evens, 10 points will be awarded
Evens or less, 15 points will be awarded.

If a betting show has been passed by SIS, then points will be awarded as above according to the horse's price at the time of withdrawal.

If the last intended mount of the jockey concerned does not come under starter's orders, bets on the jockey index placed subsequent to the previous race in which the jockey concerned had an intended mount shall be void, whether open or closed.

The same principles will apply to trainers.

h) Individual Race Index

A bet may be offered about the performance of horses in individual races, awarding points according to official finishing positions.

If a named horse, as opposed to a horse quoted as part of "The Field", fails to come under starter's orders, there will apply the following spread betting version of Tattersalls' Rule 4 which deals with deductions from bets in the event of a non-runner.

We take the midpoint of the horse's quote at the time of withdrawal and reduce the points awarded by that amount, scaling down the points awarded for each position in the appropriate proportion. Any resulting decimals will be rounded to the nearest decimal place (halves rounded up).

So, in an index where 25 points were awarded to the winner, 10 points for second and 5 points for third, if a horse with a midpoint of 8 was withdrawn, the rule works as follows:

There were (25+10+5) i.e. 40 points available, and this is reduced by 8, i.e. 20%. The new values for winner, second and third will be reduced by 20%, becoming 20, 8 and 4.

If a horse quoted as part of "The Field" fails to come under starter's orders, all bets will stand and there will be no deduction.

Bets on any non-runner are void, whether open or closed.

i) Stop At A Winner

Where IG Index is betting about the earliest race on a card to be won by the favourite, and the make-up is 10 times the number of that race, the make-up in the event of there being no winning favourite will be 10 times one more than the number of races, i.e. 80 on a seven race card. Where there are joint or co-favourites, the horse with the lowest racecard number is considered to be the favourite. A favourite which dead heats for first place is treated as an outright winner, by way of exception to Horse Racing (a). In the event of a void race or the returned favourite being withdrawn, the make-up will be deemed to be the midpoint of IG Index's quotation at the time. In this event all bets struck subsequent to the previous race shall be void, whether open or closed.

j) Abandoned Meetings

If a meeting is abandoned after the completion of the first race all bets will stand, and will be settled as if the number concerned (e.g. race card numbers, aggregate distances, favourites index, jockey index or aggregate starting prices) was the mid-point of the first updated quotation after the conclusion of the last completed race prior to abandonment. In the event of certain races on a card being cancelled, if such races were originally scheduled to take place before the last completed race prior to abandonment, then points for each such race will be allocated as per Horse Racing Rule k) Void Races. If such races were scheduled to take place after the last completed race prior to abandonment, then no points will be allocated, as the midpoint settlement will reflect the points allocation for those races yet to be run.

All bets, whether open or closed, placed after the end of the last completed race shall be void.

If no race is completed all bets, whether open or closed, shall be void.

k) Void Races

In the event of a race being declared void, the following will be awarded for that race:

Racecard numbers: the number of declared runners for that race
Match bets: void
Aggregate distances: 2 lengths on the Flat; 10 lengths for National Hunt
Jockeys: as for jockey non-runner (see (g) above)
Favourites: as for jockey non-runner (see (g) above)
SPs: half the number of declared runners

If there are no finishers in a race, it shall be treated as void.

l) Walkovers

Walkovers will be excluded from all markets unless created by the withdrawal of a horse after IG Index has begun quoting a market concerning the race in question, in which case the make-ups will be as follows:

Racecard numbers: number of horse walking over, doubled
Favourite: 20 points
Starting price: 1 point
Distances: (i) Flat 5 lengths (ii) National Hunt 12 lengths

m) Racing Post Favourites

Where a bet is offered at a race meeting on the performance of the horses nominated as favourites by that day's Racing Post betting forecast, settlement will be based on the horse nominated as favourite by the tabloid edition of Racing Post (i.e. not the Betting Shop Display edition or racingpost.co.uk). In the event of joint or co-favourites being forecast by Racing Post, settlement will be based on the first named horse in the Racing Post betting forecast. This is by exception to Favourites Index rule (f), which uses the lowest racecard number.

n) Heads You Win

Where a market is offered about the closeness of finishes at a race meeting, unless otherwise stated, points are awarded for official winning distances of less than half a length. No account shall be taken of any subsequent disqualification, enquiry or amendment unless the official distance is amended by the judge on the day of the race.

In the event of no official distance being declared for a race, the make-up for that race will be zero.