Horse Racing

PARLAY (ACCUMULATOR) BETS – New wagering product for punters

BY RUDDY ALLEN
Observer staff reporter

Friday, March 22, 2019

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IN their thrust to increase revenues, Supreme Ventures Racing and Entertainment Limited (SVREL), the sole promoter of local horse racing, is introducing a new betting product to their exotic wagering platform in the form of Parlay or what is more commonly known in Jamaica as accumulator betting.

The announcement of this new initiative was made by Maurice Robertson, pari-mutuel manager at SVREL, at a press conference held at Caymanas Park last Tuesday morning.

“Parlay (accumulator) wagering is expected to bring great excitement and winning opportunities for our betting public, both local and overseas.

“This Saturday, March 23, our punters will be able to place their Parlay (accumulator) bets at any SVREL betting locations – meaning at Caymanas Park itself and out over 100 Offtrack Betting Parlours,” Robertson informed.

Robertson said that the Parlay (accumulator) wagering is not a separate pari-mutuel pool but is a single bet that links together two or more individual wagers and is dependent on all of those wagers winning together.

He also stated that the Parlay (accumulator) betting is limited to win and place and punters can select a horse to win, place or a combination of both win and place.

“When selecting a Parlay (accumulator) bet the punter must combine at least two races but not more than six races. The races in a Parlay (accumulator) must be in chronological order but do not need to be consecutive races. Please note, that a punter may select multiple horses in one race or more legs of a Parlay bet,” Robertson explained.

Robertson said that the unit cost for a Parlay (accumulator) wager is $50.00 and the amount will increase with the number of selected horses.

“The first leg of a Parlay (accumulator) wager will determine the value that the punter will pay for the ticket. Parlay (accumulator) wagers will be added directly to the betting pool that is selected for each leg and will impact on the wagering odds when displayed,” explained Robertson.

Regarding the scratching of a horse (s) wagered on in Parlay (accumulator) bets and the cancellation of a Parlay (accumulator) bet Robertson said: “If all the horses in a middle leg of a Parlay are scratched, that leg is treated as a refund and the total balance is carried over to the next leg. If all the horses in the final leg of a Parlay are scratched, the bet pays out to the balance heading into the last leg. However, if there are multiple horses and just one scratches, your bet will automatically be redistributed equally between your 'live' runners.

“Parlay (accumulator) wagers may be cancelled by the ticket holder in accordance with the pari-mutuel rules, only before the start of the first leg in which a Parlay selection starts. Parlay (accumulator) wagers that are not cancelled prior to the start of the first leg, must be completed or terminated by operation of these rules in order to be entitled to a payout,” Robertson said.


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