Thanks to Solotrama, Hollywood Open Bet Limits are to be noted. Here it is below,
Open Bet Limit (local and international where the net pools are below R1 000 000)
An open bet is a bet offered by Hollywood on one or more events in which no fixed odds are agreed at the time the bet is placed and the winnings and therefore the payout is determined after the outcome of the event on which such bet was struck becomes known, with reference to dividends generated by a totalisator.
If a number of bets containing the same selections are placed by more than one customer, and Hollywood has reason to believe that these bets originated from or were placed on behalf of the same customer, syndicate of customers or any group of people acting in conjunction with each other as may be determined by Hollywood in its sole discretion, Hollywood reserves the right to limit the total winnings payable in respect thereof to the Pool Limit.
Winning limits shall also apply to Win, Place, Swinger, Exacta, Trifecta, Quartet, Double, Place Accumulator, Jackpot, Pick 3, Bipot, Pick 6,Mixa bets, Rugby Special and Soccer Special. The maximum winnings in respect thereof will be limited to THE TOTAL NET POOL LIMIT of the local SAFTOTE pool.
By way of example, if the total available pool on an Exacta is R2500, then this is maximum payout that may be distributed to a customer who has selected the winning combination/s regardless of the stakes or the number of tickets. If Hollywood laid 1000 winning Exactas to a customer and the Saftote dividend was R 3.50, Hollywood would limit the payout to pay the Pool Limit of R2500.
The open bet payouts will be limited by the number of dividends being paid by the totalisator. The totalisator pools will be divided by the number of open bet dividends paying for that race. Therefore if a race is paying 4 places, the totalisator place pool will be divided by 4 and that value shall be applied to each placing.
By way of an example, if the net swinger pool is R3 000 and there are 3 swingers to be paid, the net pool for each swinger will be R1000 (R3000/3 swingers) and this shall be the open bet limit applied. Therefore if swingers are caught by a customer with Hollywood, and the total payout is R1 300, this payout will be limited to R1000. The same applies to all open bets.
Open Win and Open Place Limits
Not withstanding the pool size, Hollywood reserves its right to limit the odds payable on open wins and open places to a maximum of 50% over the fixed odds starting price of the horse (being the last price laid by Hollywood). The payout limit will be the lesser of the Saftote pool size and the value of the stake applied at the odds limit.
By way of example, if a horse has a starting price of 2/1 and pays R5 for a win (odds of 4/1) on the totalisator (where the pool size was R15000) and a customer has R1000 wins, then the payout will be limited to odds of 3/1. Should a customer have had R5000 wins on the horse then the maximum win amount will be the pool size
Carryovers
Should there be no winning tickets on any pool on the Saftote Totalisator (i.e. a full carryover) but winning tickets at Hollywood, Hollywood will pay a dividend determined by dividing the Totalisator pool by the number of Hollywood winners. Hollywood’s maximum liability in totality to customers shall be limited to the Pool. These dividends and pay-outs will be subject to the over-riding daily pay-out limit.
Where a partial carryover is declared by the Saftote Totalisator on an open bet on South African, Zimbabwean or Kenyan races, Hollywood shall pay its winning customers based on the value of the total pool. Hollywood’s maximum liability shall be limited to the total pool. These dividends and pay-outs will be subject to the over-riding daily pay-out limit.
By way of example, if a Pick 6 pool is R1.5m and only a 10% winner is declared with a dividend of R150 000 and a carryover of R1 350 000 is declared, then Hollywood’s customers winning bets shall be based on the pool of R1.5m and the maximum liability in totality to all customers shall be limited to the value of the pool.
Where a partial carryover is declared by the Saftote Totalisator on an open bet on commingled pools on international races (excl Zimbabwe and Kenya), Hollywood shall pay the dividend declared. However, the liability shall be limited to the value of the Pool paid out and NOT the value of the total pool. These dividends and pay-outs will be subject to the limits as displayed in section 3.1 Betting on International Racing and the table of Payout Limits per Bet Type per Customer.
By way of example, if a commingled Trifecta pool is R10 000 on an English event and a dividend of R700 is declared to 6 winners locally (total payout R4200) and a carryover of R5800 is declared, then Hollywood’s maximum liability to any customer shall be limited to the value of the pay-out, being R4200.
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