Imagine a room full of people looking at the big screen, watching their horse gallop towards the finishing line.
What is a race night ? It can be an exhilarating experience, and a wonderfully entertaining way to raise funds and have fun at the same time. You can raise thousands of pounds before the event, and during the evening itself.
What is a race night ? You can sell Owners, Jockeys and Sponsors in advance of the event. You can also sell tote betting tickets during the evening itself. Combining both together makes your event a sure-fire winner.
What is a race night ? It’s a fun packed lottery where everybody has an equal chance to win. It’s fun for the complete racing beginner and expert alike and every race contains eight runners that you can name yourself or use the fun names we provide.
As you can probably guess, the most common question we are asked is “what is a race night ?” The second is “can we make a loss on the betting?” The simple answer is NO, you only pay out a percentage of the money you receive.
If, on the first race you took a total of £100 spread over the eight horses in the race. You split this money in two. 50% of the money taken (£50) goes into your fund raising pot, the other 50% is divided amongst the winning ticket holders. If you had 10 winning tickets they would receive £5 per ticket, if you had 20 winning tickets they would win £2.50.
The favourite would be the horse that sells the most amount of tickets in the race. The outsider would be the horse that sells the least.
There is no need for a licence as you are raising funds for a non-commercial event. The website of the Gambing Commission has a page dedicated to this.
How to run a race night
Have a float of up to £50 per ticket seller
Your ticket sellers are seated, the punters go to them
Keep to one selling price on the night
How to run a race night
OPENING AND CLOSING THE TOTE BETTING
Every horse in every race will have its own tickets
Your ticket sellers take the bets one race at a time
For larger events use more than one ticket seller and a bigger float
WHAT IS A RACE NIGHT ? YOUR EVENT IS RUN UNDER THE GAMBLING ACT OF 2005
To comply with regulations, we suggest the following:-
Open the betting for the race. Take the bets. Close the betting.
Ask a member of the audience to choose a race film at random from the box provided
Show the film on the television or projector screen
Before the race starts a fun form guide gives a brief rundown of each of the runners
As no more bets can be placed at this point, you have complied with the regulations
Please use our simple supplied payout working out sheets.
The usual payout is 50% to the fundraiser and 50% to the winning ticket holders.
This way, your organisation can’t lose.
At the end of the race, the winning payouts are announced
Payout to the winners ONLY
|Example:- Race 1
Your punters place their bets at £1 a ticket and at the close of betting the following tickets were sold:
|Horse number||Start No||Close No||Total Sold|
|1||01||15||14||Total winning tickets|
|3||01||10||09||payout per ticket|
|Winning Horse||Tickets sold for||Total sold||90||£45.00|
|2||£1||Total cash in||£90.00|
WHAT IS A RACE NIGHT ?
Selling tickets @ £1 each, a total of 90 tickets have been sold.
Divide this amount in two: 50% payout = £45, 50% to your fundraiser = £45
If horse number 2 wins, and 10 tickets have been purchased, £45 is divided by 10. Therefore, the winning tickets are worth £4.50 each.
If Horse Number 7 wins, and 3 tickets were purchased, £45 is divided by 3. As a result, it would be £15 per winning ticket.
REPEAT THIS FOR ALL OTHER RACES (GUARANTEED FUNDS!!)
If, after reading this information, you are still unsure about what is a race night , please call 07800 787462 and ask for Derek.