New bet type for Kiwi punters

Media Release 12 December 2008

New bet type for Kiwi punters

The TAB's new betting product - the First4 - will be available from this Wednesday (17 December), giving punters the chance to win big dividends.

First4 is a betting product where the customer selects the first four runners in the correct order in a nominated race. This is similar to a Trifecta, but has an additional selection for the fourth position.

New Zealand Racing Board General Manager of Racing & Wagering Bill Colgan says the new product offers customers the chance to claim huge dividends and also adds another dimension to the excitement of a race.

"Picking the Trifecta can get you a big payday, like this year's Melbourne Cup dividend of almost $29,000, but in Victoria the First4 paid nearly $1.5 million," Mr Colgan says.

"It's great for the punters and if it helps stimulate interest, like we believe it will, then it will be good for racing and entertainment too."

The First4 was piloted in New Zealand this week at three race meetings in Christchurch, Auckland and Manawatu and it proved to be immediately popular with punters.

First4 is being carefully phased in to help customers understand how it works until it is gradually expanded to more races next year.

Initially the First4 will only be offered on the fourth and the final race of a domestic day or twilight meeting and the first and the fourth race of a domestic night meeting (starting after 5pm). The races that the First4 will be available on Wednesday 17 December are:

ž Pukekohe Thoroughbreds (M2)

o R4 - start time: 2.40pm

o R10 (last race) - start time: 6.08pm

ž Wanganui Greyhounds (M9)

o R4 - start time: 5.57pm

o R10 (last race) - start time: 7.55pm

The elements of First4 are not exactly the same as a Trifecta, as the First4 can jackpot. If no one strikes 100 per cent of the winning combination for the First4 on a race, there will be a jackpot to the next First4 race at that meeting.

Percentage Betting and Roving Banker will also be available with First4. With a percentage bet, only the percentage struck will be paid out with the remainder of the pool to jackpot. For example, if 10 per cent of a $1,000 dividend pool is struck, a $100 dividend is paid out and $900 will jackpot.

If it is not struck on the last First4 race of the meeting, the pool will go into a reserve to be combined to make a First4 'major jackpot' at a time to be determined by the New Zealand Racing Board.

The TAB's next new betting option, the Quaddie, is projected to be available in early 2009. The Quaddie is a multiple leg bet similar to a Double, Treble and Pick6, but with four legs.

Both First4 and Quaddie are intended to be commingled with Australia later next year and are featured on a new combined betting slip with the Pick6 and Six Pack.

For more information visit www.tab.co.nz

ENDS

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