Hong Kong Jockey Club Press Release
The Hong Kong Jockey Club announced today (11 June, Thursday) two wagering-related initiatives for the 2020/21 racing season. The Club will relaunch the Forecast betting pool and merge it with Trio, forming the “Forecast & Trio Merged Pool”. It will also increase the rebates for losing bets placed on Quinella and Quinella Place.
Forecast, a bet type that has been discussed by local Hong Kong media in recent years will be relaunched in the 2020/21 racing season. It is a popular bet type in other racing jurisdictions, particularly in the US, Canada and the UK, where it is more familiar to customers than the Quinella.
Forecast requires the selection of the first and second horses finishing in the correct order in a nominated race. The relaunched Forecast will be merged with Trio to increase pool liquidity. The takeout rate of both Forecast & Trio in the merged pool will be set at 19.5%. This means that the Trio takeout rate will decrease by 5.5%, down to 19.5% from 25% originally, thereby providing more value to our mass customers.
In global practice, the strike rate is the main factor taken into account when setting the takeout rate. Forecast is a bet type that is more exotic than the standard bets. With similar strike rates for Forecast and Trio, these two pools are merged together at the same takeout rate for deeper pool liquidity.
Customers will also benefit from an increase in the rebates for Quinella or Quinella Place, effective from the next racing season. Quinella or Quinella Place bets on all local races, with a total losing bet amount of HK$10,000 or above in one single ticket or bet line, will receive a higher rebate of 12% instead of 10%. This will enable the Club to better combat the discounts offered by illegal bookmakers in these two pools and channel back for good causes.
The Club’s Executive Director, Customer and International Business Development, Mr. Richard Cheung said: “We believe these changes will provide more value and options for different segments of our racing fans, meanwhile reinforcing deep pool liquidity which is one of the competitive advantages of Hong Kong racing as a global commingling hub. More gaming demand will also be channeled back for good causes.”
Further details on the above offerings will be announced before the start of the 2020/21 racing season