Punters in Queensland, South Australia and Northern Territory are about to enjoy a whole new way of betting when UNiTAB launches fractional betting on Monday 3rd March. Fractional betting allows punters to make a number of selections and to nominate the maximum amount they wish to spend on a Trifecta or First4 bet type. There is a minimum spend of $3 although a $1 minimum still applies where a single combination is selected.
Fractional betting works like this. Currently, the cost of a Trifecta is determined by the number of combinations taken by a punter. For example, five selections in a boxed Trifecta would cost $60 for a $1 unit or $30 for a 50 cent unit. With Fractional betting a punter can choose the maximum amount they wish to spend. The TAB computer system will calculate the whole percentage allocated to each combination. Where the whole percentage bet costs slightly less than the maximum amount nominated by the customer, the difference will be refunded to the customer.
In the example above, a $3 outlay would represent 3/60 or 5% of the $60 full unit cost. If the customers combinations include a successful one, the $3 spend will give the punter 5% of the dividend. If the dividend is $1,000 then a 5% share would equate to $50.
Fractional betting is one of several major changes to be introduced by UNiTAB on Monday 3rd March.
Other key changes coinciding with the introduction of fractional betting include: