Worked Payout Examples for Dead Heats

What Triggers a Dead Heat

When two or more horses cross the finish line simultaneously, the racebook declares a dead heat. The payout isn’t a simple split; it’s a calculated share of the pool based on each horse’s odds. Here’s the meat of it.

Basic Formula, No Fluff

Take the total stake on the winning combination, divide it by the number of tied horses, then apply each horse’s odds to that fraction. The result? The cash each winning ticket earns.

Example One: Two-Way Tie

Imagine a £10 exacta on horses 3 and 5. The pool for that exacta is £5,000, and the odds on horse 3 are 4.0 (4/1), on horse 5 are 6.0 (6/1). Because it’s a dead heat, split the pool: £5,000 ÷ 2 = £2,500 per horse. Now multiply each share by the odds: £2,500 × 4 = £10,000 for horse 3, £2,500 × 6 = £15,000 for horse 5. Your ticket net? £25,000, less the stake.

Example Two: Three-Way Tie

Say a £5 place bet on a three-horse dead heat: horses 2, 7, and 9. Place pool = £3,000. Divide by three: £1,000 each. Odds: 2 = 3.5, 7 = 5.0, 9 = 2.0. Payouts: £1,000×3.5 = £3,500; £1,000×5.0 = £5,000; £1,000×2.0 = £2,000. Total returned = £10,500. You keep the £5 stake, profit £10,495.

Why the Split Isn’t Straightforward

Because the pool includes all losing tickets, the division happens before odds are applied. It prevents a scenario where dead-heat winners siphon the entire pool and leave nothing for the losers. The system keeps the book balanced.

Edge Cases That Trip New Bettors

Don’t forget the commission. After the split, the house takes its cut — usually 5% of the net win. In the two-way example, £25,000 × 0.05 = £1,250. Your final take = £23,750. Overlooking that wipes out a chunk of profit.