Payout Explanation

There seems to be some confusion on the payout format for the 89 Raceway Mud races. Here is how it breaks down, if you have any questions regarding this, please contact us and we will try to clear up your questions.

 

Standard Races   Guaranteed Purse Races  

On a Standard Race, the purse amount is determined by the number of entries in each class. We are currently running on a 90% payback. The 10% that is kept is turned over to the volunteer medical staff and fire department.  This is to include them being available for wash down following the races.

 

  On a guaranteed purse race, a guaranteed amount is paid out to the drivers. The 'guarantee' aspect works like this.

If we have 3 entries in a class at $50 ea, that is a total of $150 for a class that will pay out $250 - we Guarantee we will pay that amount out, even if we do not receive the entries to cover it, thus, Guaranteed Purse, NOT added money.

In the event that we draw more money than required to cover the purse amount, that NET additional money will be added to the winnings (see example 2 below)

 
Example

10 Entries at $35 ea = Total $350 (less 10% = $315)

First place receives 50%, second 30%, 3rd 20%
In the above example, this is how the payout would look

1st  $157.50
2nd $94.50
3rd $63

Total Payout = $315

  Example

3 Entries at $50 ea, $150 total income (on a normal race day, this would break down like this under 90% payback. 1st $67.50, 2nd $40.50 and 3rd $27) Under the Guaranteed Purse, it will be paid out as follows (this is based on a class that requires a $50 entry fee)

1st $150
2nd $75
3rd $50

Total Guaranteed  Payout $275

 

 

  Example 2  
WE WANT your feedback

On standard Race Weekends, would you prefer lower entry fees, and trophies for the top 4 places, or keep the entry fees the same and receive cash? (This does NOT apply to purse weekends) * - Required Field

Name* 
I would rather have trophies
I would rather pay more and take cash home

  10 Entries at $50 is a total of $500 ($500 less the guaranteed payout of $275 leaves $225 and 90% that will then be split among the top 3 place finishers)

1st $150 + $101.25  = $251.25
2nd $75 + $60.75 = $135.75
3rd $50 + 40.50 = $90.50

NOTE: We are considering paying out further positions, ie, 4th, 5th, 6th etc. This will enable people to get some money back, but will also lower - please let us know what you think about that.

 
       
       
       
 

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