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. Every race contains eight runners 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.
FOR EXAMPLE:
You bring in a total of £100 on the first race. You then split this money in two. 50% of the money (£50) goes into your fundraising pot, and the other £50 is divided amongst everyone who bet on the winning horse. If there were 10 winning tickets, each of these tickets would be worth £5. If there were 20 winning tickets they would be worth £2.50 each.
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.
How to run a race night
Have a float of up to £100 per ticket seller
Your ticket sellers are seated, and punters form an orderly queue
Keep the price of the tickets the same throughout the entire event
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 bets one race at a time
For large events you will need 4 ticket sellers
WHAT IS A RACE NIGHT ?
In order to comply with fundraising regulations, you must ask a member of the audience to choose a race at random AFTER you have closed the betting. Before the race starts, a brief intro 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.
We recommend using our simple payout calc sheet, supplied with the Pro Race Night Kit. 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 placed their bets at £1 a ticket. The following tickets were sold: |
||||
| Horse number | Tickets Sold | |||
| Horse #1 | 14 | |||
| Horse #2 | 10 | Winning horse = Horse #2 | ||
| Horse #3 | 9 | Winning tickets = 10 | ||
| Horse #4 | 8 | |||
| Horse #5 | 15 | |||
| Horse #6 | 14 | Payout per ticket = £4.50 | ||
| Horse #7 | 3 | Total Payout = £45 | ||
| Horse #8 | 17 | Funds raised = £45 | ||
| Tickets sold = | £90 | |||
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 RACES
If, after reading this information, you are still unsure about what is a race night , please email info@racenightservices.co.uk