Why would a tournament admin consider running a weighted payout pari-mutuel rather than a pari-mutuel relying on traditional payout calculations? This blog article explains the difference between these types of pari-mutuel offerings, and shows you how unbelievably easy it is to create any of these tournaments on Homestretch Golf, where you participants will enjoy paperless pari-mutuels and live odds during the betting window!

The proprietary Homestretch Golf feature allows admins to run Show Only (TOP 3) tournaments but dictate the payout calculations by % depending on the finishing position within the Top 3 spots.  Additionally, admins will be able to run Place Only (TOP 2) tournaments but dictate the payout calculations by % depending on the finishing position within the Top 2 spots.  Common examples are 50%/30%/20% for ‘Show Only’ tournaments with weighted payouts; 60%/40% for ‘Place Only’ tournaments with weighted payouts…but tournament admins can determine those specific %’s when creating a tournament on Homestretch Golf!  See the screenshots and explanations below to understand the difference between Traditional Payout Calculations versus Weighted Payout Calculations.

“Our participants really enjoyed the new weighted payouts option because of how it simplified the betting experience. Having one wager that covered win, place and show made it easier for participants to bet on teams, and if they wagered on a team that finished top three – it was a winner. I see us using only weighted payouts for all our events going forward!”

– Larry Donaldson from Stoughton Country Club in Stoughton, Wisconsin on Homestretch Golf’s new “Weighted Payouts” solution


TRADITIONAL PARI-MUTUEL PAYOUT CALCULATIONS:

The total Place Wagers Pool is split in half so 50% of the net losing wagers factor into payout calculations for those that wagered on the 1st place finisher, and 50% of the net losing wagers factor into payout calculations for those that wagered on the 2nd place finisher.

The total Show Wagers Pool is split in thirds so 33.3% of the net losing wagers factor into payout calculations for those that wagered on the 1st place finisher, 33.3% of the net losing wagers factor into payout calculations for those that wagered on the 2nd place finisher, and 33.3% of the net losing wagers factor into payout calculations for those that wagered on the 3rd place finisher.


WEIGHTED PLACE ONLY (i.e. Top 2 Predictions) PAYOUT CALCULATIONS:

The total Place Wagers Pool can be weighted so the tournament administrator can predetermine the % of the net losing wagers in the pool that factor into payout calculations for those that wager on each Top 2 finisher (the 1st place finisher, and the 2nd place finisher).  A popular way to leverage this feature may be match play brackets where an admin wants to let participants wager who will make the final championship match, and if they are correct, weight the payouts such that a successful Place wager on the 1st place finisher after that championship match is conducted will payout more of the Place pool than successful Place wagers on the 2nd place finisher.  An example here could be 60% of the net losing wagers used to calculate payouts for those that correctly wagered on the 1st place finisher, and 40% of the net losing wagers used to calculate payouts for those that correctly wagered on the 2nd place finisher.  Tournament admins can set these %’s when creating a Weighted Place Only tournament on Homestretch Golf.


WEIGHTED SHOW ONLY (i.e. Top 3 Predictions) PAYOUT CALCULATIONS:

The total Show Wagers Pool can be weighted so the tournament administrator can predetermine the % of the net losing wagers in the pool that factor into payout calculations for those that wager on each Top 3 finisher (the 1st place finisher, the 2nd place finisher, and the 3rd place finisher).  A popular way to leverage this feature may be stroke play tournaments or a horse race/shootout where an admin wants to let participants wager who will finish in the Top 3 spots after tiebreakers, and if they are correct, weight the payouts such that a successful Show wager on the 1st place finisher after that tournament is played will payout more of the Show pool than successful Show wagers on the 2nd place finisher.  Likewise, the smallest % of the net losing wagers in the pool would be used for those that successfully wagered on the 3rd place finisher.  An example here could be 50% of the net losing wagers used to calculate payouts for those that correctly wagered on the 1st place finisher, 30% of the net losing wagers used to calculate payouts for those that correctly wagered on the 2nd place finisher, and 20% of the net losing wagers used to calculate payouts for those that correctly wagered on the 3rd place finisher. Tournament admins can set these %’s when creating a Weighted Show Only tournament on Homestretch Golf.


If you are interested in leveraging the Homestretch Golf platform with your group of golfers, click here to create your free admin account to get started!