Dead heat calculator: stake reduction and payout on a tie

The dead heat calculator shows what a tie does to a bet in a market that pays several places, such as a top 5 finish. Enter the stake, the odds, the places paid, where the tie starts and how many are tied. It prints the share of the stake that still runs, the reduced stake and the payout.

Share of the stake that runs

1/2 (50.00%)

Reduced stake

$50.00

Payout if the selection is in the tie

$250.00

Profit on the full stake

$150.00

Part of the stake that loses

$50.00

2 tied from position 5 in a market paying 5 places leaves 1 of those places for them, so 1/2 (50.00%) of the $100.00 stake runs at +400: $50.00 returns $250.00, a profit of $150.00 on the full stake.

Dead-heat rules are set in each market's terms. This follows the common rule, where the stake is divided by the number tied and applied to the places left. Some markets and each-way terms differ, so check the terms of the market. Arithmetic only.

The dead heat formula

share = places left ÷ number tied

payout = stake × share × decimal price

Places left = places paid − start position + 1. If the number tied is no more than the places left, the bet pays in full. The part of the stake not carried forward is lost. The decimal price includes the stake, so the payout is what comes back, and the profit is the payout minus the full stake.

Worked example

$100 at +400 (5.0 in decimal) on a top 5 finish, with two tied for 5th. Places left = 5 − 5 + 1 = 1, shared by 2, so the share is 1 ÷ 2 and $50 of the stake runs: 50 × 5.0 = $250 returned, a profit of $150 on the $100 staked. Without the tie the return would be $500 and the profit $400. A three-way tie for 4th in the same market leaves 2 places for 3, so the share is 2 ÷ 3 and $66.67 of the $100 runs.

Questions

What is a dead heat in betting?

A dead heat is a tie for a position that decides a bet. In a market paying the top 5, two selections tied for 5th share one paying place between them. Their backers are paid on a reduced stake, in proportion to the places they share, at the full odds.

Why does a two-way tie for the last place halve the stake?

Two selections tied for 5th share the one place left, so each takes half of it. Half the stake is paid at the full odds and the other half loses. Three tied for the last place would give each a third of the stake.

When is a tie paid in full?

A tie is paid in full when every tied finisher is still inside the places paid. Three tied for 3rd in a top 5 market take places 3, 4 and 5, so no one loses part of the stake. A tie that starts after the last paying place pays nothing.

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