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[ The Single Pool Revolution ]

A major strength of the SPT is the use of a common pool for both set price bets and variable price bets. This is a strength because of the flexible nature of the variable price pool on which the SPT is able to draw when it writes set price bets.

Because it acts in this way, the SPT shares some highly prized characteristics with the traditional totalizator, namely that it has no risk of loss and that it can guarantee the full rate of commission. For a set price system to be able to function in this way has long been the Philosopher’s Stone of wagering.

That is, the SPT can integrate with the pari-mutuel system already present in most countries and so it can provide a natural extension of that system.

Because it fits so naturally with the existing system, and not only provides set prices but also enhances that system, it is believed that the SPT will be generally accepted and widely applied.

Set Prices:  Price certainty, possible best price

Integrated:  Current tote extended, unique principle

Variable Prices:  A choice, two levels of better prices

Commission:  The full rate guaranteed

Pari-mutuel:  A natural result

Small Pools Also:  Where it is needed the most!

Widely Applicable:  Win, place, multiples, all totalisators

Set Prices: Price certainty, possible best price

The exciting thing for punters is that, for the first time, it can be ensured that popular set prices are available on a typical tote system. Tote punters are no longer restricted to betting just before a race in order to get an idea what price they will receive. In fact, now they can actually be certain about the price they will receive even if they bet quite some time before the race.

Not only that, but they also have the opportunity to obtain the best price available during betting.

Integrated: Current tote extended, unique principle

The SPT functions by writing set price bets against an existing pool which includes variable price bets. It can therefore integrate seamlessly with, and act as a natural extension of, an existing parimutuel variable price totalisator system because it uses the same pool as the existing system. So it acts on a totally different principle than traditional fixed odds betting systems because they seek to partly or wholly replace the existing tote system by establishing a separate pool of bets and attempting to balance the risks associated with those bets. [top]

Variable Prices: A choice, two levels of better prices

As the SPT is an integrated system, punters now have a choice  -  they can have set prices and yet they still have the opportunity to place traditional variable price tote bets.

Not only that but the SPT can give them better (higher) prices for those variable price bets.

And if required, it can give even better prices to punters who provide the early pool (and market) by making early variable price bets.

So the SPT can enhance the existing system to give a doubly improved product, namely one that provides set prices as well as one or more types of higher variable prices. [top]

Commission: The full rate guaranteed

Even though it provides set prices, the SPT is just like the existing tote system in that it cannot lose and it can still automatically guarantee the full rate of commission. This is because it is able to write set price bets against an existing flexible pool. A system with these abilities has been sought for many years.

For traditional fixed odds betting systems based on a bookmaker model, increased turnover may mean increased risks and a loss. But there is no such risk with the SPT.

What is more, even though it is able to provide higher variable prices, it can still produce the full rate of commission as a single rate; or as a dual rate if required. [top]

Pari-mutuel: A natural result

Pari-mutuel betting is widely understood to be where the holders of the winning tickets divide the total amount of money bet on a race (the pool) after deductions for expenses such as commission and tax.

A natural consequence of this system is that it is the betting public itself that determines the price because the price is a result of the weight of money on each runner. There is no outside influence setting the price - such as if a bookmaker framed the market.

However, because the amounts for commission and tax must be determined before there is any payout, traditionally the price allocated to punters hasn’t been calculated until all bets have been made. Therefore, only the one price has been available to all punters  -  the final price.

But the pari-mutual system doesn't have to work this way! It is quite possible to give a guaranteed price to punters throughout betting as well!

The SPT can operate so that the holders of the winning tickets divide the total pool after expenses. If it operates in this way, then the betting public alone determines the price by the weight of money on each runner.

Therefore, it seems that the most common form of the SPT fulfils the fundamental characteristics of the pari-mutuel system. This is not changed just because more than one price is offered during betting.

A big benefit of the parimutuel system is that in order to win, the punter does not have to exercise his skill in a rather one-sided battle against a bookmaker who makes his living from betting but only has to be a bit more skilful than the average punter. [top]

Small Pools Also: Where it is needed the most !

The SPT is not only applicable to large pools. In fact, average sized bets are possible on average size pools and even on smaller pools.

Indeed, it is envisaged that the greatest benefit will be found in the relatively small pools where the prices are less stable.

Even pools which contain as little as $A1,000 in variable price bets at the start of set price betting should be sufficient to accommodate average size bets of about $10. Although it may not be ideal, the system would function at this level. In fact, a pool less than this may well suffice as smaller pools generally relate to less popular races which seem to attract smaller bets. [top]

Widely Applicable: Win, place, multiples, all totalisators