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Payout Explanation |
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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.
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| Standard Races |
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Guaranteed Purse Races |
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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.
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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) |
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| 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 |
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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 |
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Example 2 |
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WE WANT your feedback
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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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