## How to use the dead heat calculator

1. Select either back or lay depending on what your bet on the market was.

2. Enter the number of selections that have tied for the dead heat place.

3. Enter the number of places that are shared by the tied selections.

5. Enter the backer's stake and the odds.

7.1   A dead heat is defined as an event in which there are two or more joint winning contracts.

7.2   In the case of a dead heat, the winnings made and losses incurred by users are split according to the number of competitors. The formula for this, along with relevant examples, are given below:

'For' bets are decided using this equation:

Return = (Backer’s stake * (number of expected winners/number of actual winners)) * original odds.

For instance, if the user placed a for order of £20 on a horse at odds of 4.0 which then finished first in a dead heat with two other runners, their bet would be divided as follows:

(£20 * (1 / 3)) * 4 = £26.67

Profit/loss = return - backer’s stake = £6.67

'Against' bets are worked out like this:

Return = ((1 - (expected number of winners / number of actual winners) * original odds) / (original odds - 1)) * original liability

For instance if a user placed a sell order on the same event for £20 at odds of 4.0, their return would be calculated as follows:

(1 - (1 / 3) * 4.0 / (4.0 - 1)) * 60 = ((0.6667 * 4) / 3) = £53.33

Profit/loss = return - original liability = £53.33 - £60 = -£6.67

7.3   In the event of a dead heat in a multi-winner market, only contracts that are tied past the last winning position will be affected. Any winning contracts will then be divided by the number of places remaining.

For example, in a top three horse racing market if the first three horses were involved in a dead heat for first place then all three would be declared winners and no dead heat calculations would apply.

If two horses tied for 3rd after the first two horses had past the post, then dead heat rules would apply to the 3rd and 4th horses only, with them sharing the final winning position.

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