Luxbet has today announced its handling of TAB Fixed Odds bets on the Australian Cup, which was washed out last Saturday but will be re-run this Saturday.
As per the rules of racing, Shocking which was scratched from the Australian Cup last Saturday but is able to be reinstated in this Saturday’s field.
Due to the raft of scenarios hinging on whether Shocking would take his place in the Australian Cup field and the Fixed Odds Betting Rules which Luxbet operates under, TAB Sportsbet determined to wait for clarity before making today’s decision.
Fixed Odds Betting Rules state that TAB Sportsbet is obligated to allow bets to stand on the Australian Cup and Crown Guineas because they were races in which All In markets were offered and are being run within seven days of the originally scheduled date.
Luxbet acknowledges that the decision to reinstate Shocking to the field after it was scratched on Saturday has the potential to disadvantage customers who subsequently placed a bet on the race.
Luxbet’s treatment for paying winners on the race is therefore designed to ensure that no customer is unfairly disadvantaged.
TAB Fixed Odds betting on the Australian Cup will re-commence today. A new ‘Final Field’ market will be created so that there is no confusion about the treatment of bets.
This new market will operate under the normal TAB Fixed Odds Betting Rules.
However, betting on the original market will remain closed, with the following applying:
Scenarios around TAB Fixed Odds Betting for Australian Cup (original market)
All TAB Fixed Odds bets placed on the Crown Guineas (either Final Field and All In) stand.
Melbourne Food and Wine Plate
As there was no All In betting on this race and different Fixed Odds Betting Rules apply, all original bets on this race will or have been refunded. A new TAB Fixed Odds market for Saturday’s running of the race will be opened tomorrow.
TAB Tote Odds Betting
Win, Place, Exacta, Quinella, First 4, Trifecta, Daily Double, Running Double (Races
7 and 8, Races 8 and 9) and Duet bets on the Crown Guineas, Australian Cup and Melbourne Food and Wine Plate were refunded. Special dividends were declared for the BIG6, Quaddie and Running Double (races 6 and 7), as per the Betting Rules.
TAB Tote Odds betting on the running of these three events as part of Flemington’s meeting this Saturday will open as normal on Friday.