View Full Version : TT DIVIDEND.
according to the JC feed for pool sizes tonights TT pool ended up at $19.3m with no jackpot.
their announced dividend was 12.02m with a 9.6m c/f jackpot. the 12m does not compute and should be more like 10.4m.
the final pool size was correct according to the annual yearbook.
8 units got the consulation dividend which should have been 435,727 but only paid 240,401. hence each consolation ticket was underpaid $195,326 ( the underpayment here equates to the overpayment on the TT itself > $2 unit and 9.6m c/f ).
it seems one should carefully check any exotic dividends paid by the JC especially those involving scratchings ( where i have been suspicious of same for over 10 years ).
http://www.asianracing.nu/ubb/ultimatebb.php?ubb=get_topic;f=2;t=000045
see original 6th april post from the above thread.
i suggest an full audit of all exotic dividends declared in the past 7 years by an outside international auditor.
surely 3 totally incorrect dividends in 2 months plus another involving a ridiculous rule re abondoned races warrants same.
masun, in his role as the devils advocate, refered to the HKJC having great technolgy and betting facilities. But in my opinion this, like the earlier inaccurate 6up dividends, is TOTALLY AVOIDABLE and should see someone responsible resigning and labeled incompetent moron.
A complete fuckwit could write software to calculate correct divs!!!
[ August 28, 2002, 09:03 PM: Message edited by: Scarper ]
i suggest an full audit of all exotic dividends declared in the past 7 years by an outside international auditor.
if they cant get this right what is there to say they get the rest right???
saying that, i know the main tote software was written by a 3rd party (forget who now) well before the TT and other exotics were introduced. mybe they have done these in house and screwed up or as i suspect they dont have anyway of allowing for jackpots automatically and it requires manual input.
[ August 28, 2002, 08:37 PM: Message edited by: Scarper ]
In fact we should extend the idea of an audit of past payouts to independent verification of all future dividends declarations. From what has been said so far, it's not entirely impossible that some kind of fraud has been or will be committed by HKJC staff. Independent verification will help put our mind at ease.
Mr Crapola
29-08-2002, 05:35
Good call people. An audit would not go astray after the debacles listed here and would go hand in hand with the jockey clubs' own mission statement as being "transparent to the public".
i suggest a full audit of all exotic dividends declared in the past 7 years by an outside international auditor.
Fully agree...how can we start the process ?
Before pushing for an audit, first we have to establish that the dividends declared on June 5 were indeed wrong. We have to be sure that there has been no misunderstanding or that the dividends were affected by some obscure rules that few people are aware of (as in the 2nd 6-up dividends case last season). If someone can alert Alan Aitken of the situation, maybe he can seek a clarification for us. Failing that, someone can call the JC's PR department asking them to comment on the matter. Once we have established beyond doubt that there were miscalculations on June 5, we have a good case for an audit of past dividends.
there is a rule that limits the consolation divbidend to 2% of the TT dividend (or something like that). so in this case, and a few others like it over the years, the TT consolation has been limited and the excess going to the TT/jackpot pool.
Why, i dont know! But this was all within the betting rules!
There's in fact an online document on how the dividends are calculated at the JC's website:
http://www.hkjockeyclub.com/english/betting/bet_betrules.htm
Check out the document "Rules for Dividend Qualification and Calculation".
The exact wording of the relevant rule:
quote: the Dividend for the "consolation combination" at all times being limited to one-fiftieth (1/50) of the Dividend for the "winning combination"
Why??? To penalise syndicates specialising in TT?
Another possible reason for the strange rule: someone at the HKJC might have been worried that a winning combination would pay less than a consolation combination. This is possible, though not so probable, in a situation where the first two legs of a TT involve some very longshots thus eliminating most combinations; and yet the final leg involves the first few favourites and thus most tickets surviving the first two legs would hit rather miss the TT. So there could be a situation where, say, there are 5 winning combinations and only one consolation combination. In such a case, each winning combo would pay less than the consolation. By limiting the dividend of the consolation combination to less than 2% of the winning one, the JC probably wants to make doubly sure that such a situation will never happen.
im sure you are right masun - thats all i could think of too! Probably a good rule too - maybe the 2% is a bit low though as the heavy fav comb would almost certainly be < 50/1 to cause this situation to occur.
i still cannot believe the TT went off at all yesterday let alone for $6 worth ( out of how many live combos -- ie how much live after r5 ).
would like to see an audit again. maybe it is possible a "fix six" wannabe is operating in HK.
i believe the JC should certainly investigate !!
new pool was about 43m i think. after race 5 there was $271 live vs an expected $407 based on the trio divs (usually quite accurate).
the last trio was 112.4 so we could expect $1.8 to off (2.7 from trio divs). So the $6 is certainly way out of line.
from the trio bet fractions you'd want a div of at least 79m.
So I take it Hobbes you didn't get a piece of it? :D :p
Any forum users want to fess up to some extaordinary picking (or luck)? Or maybe everyone takes lucky dip tickets nowadays...
Which reminds me, what happened to that $10 winning ticket that never got claimed in a large TT a couple of years ago that ruined the divvies for the other winners... That should be audited too...
It went to charity I believe Tosser ( with the owners blessings)
certainly didn't. am making substantial donations to JC and trivial amounts to their charities.
the earlier episode involved a $30 ticket worth HK$118m.
had totally forgotten this but --- how bizarre!
Was that you that didn't collect the winning ticket? Or was it B :confused: enter...
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