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Parimutuel, Non-Parimutuel or Hybrid

Commission:  Either as one rate or two

Prices:  Automatic (various formulae) or manual

Sports Betting Option

Parimutuel, Non-Parimutuel or Hybrid

It is believed that typically, the SPT will function as a pari-mutuel system. That is, the bets made by punters will be the sole determinant of the prices.

However, other versions of the SPT are possible which are not pari-mutuel in nature. These may be of use in those jurisdictions that allow that type of betting such as the UK, Australia and South Africa. One of the other versions of the SPT operates by including in the pool at least some variable price bets which have been supplied by the tote operator. These bets are called "theoretical" variable price bets. They would perhaps be included at an early stage in betting and in accordance with a market supplied by a professional bookmaker.

Provided the jurisdiction ensures that the system is well regulated, this arrangement has the potential to enhance the quality of the pool at an early stage in the betting period. It would do this both by increasing the size of the early variable price pool and also by increasing the accuracy of the early market. The system would therefore potentially be able to receive much bigger bets at an early stage in betting.

Importantly, the SPT is not restricted to having either just real variable price bets (a totally parimutuel system) or just theoretical variable price bets (a totally non-parimutuel system). It can have a mixture of the two and act as a hybrid system. That is, the SPT can function over the full spectrum of possible pool types. This is yet another unique feature of the SPT.

Such enormous versatility means that the SPT can be used in many different situations. These could vary from where early pools in smaller races could be boosted by some theoretical variable price bets to the situation where set price betting could be provided at a very early stage for some important high quality races, perhaps starting set price betting many days before the event and based solely at first on a theoretical variable price pool.

Commission: Either as one rate or two

It is expected that in a typical installation, the SPT would generate the full rate of commission as a single rate. It is important to note that the SPT can automatically provide that single rate of commission while generating set prices and variable prices at different levels.

However, if there are situations where it is advantageous to provide two different rates of commission, namely a different rate for each of the two types of bets, then the SPT can do that too. Of course, in this situation the SPT would still be generating the full rate of commission on all of the bets, it is just that it would be a different rate of commission for each of the bet types.

Prices: Automatic (various formulae) or manual

There are numerous formulae available for the calculation of the prices. Set prices can even be manually adjusted if desired.

Sports Betting Option

Even though the SPT is predominantly designed to operate on racing (where the vast majority of the turnover exists), it also has a sports betting option which offers a new approach and which probably produces higher profits if turnover is at a reasonable level.