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Forecast and Tricast betting

Forecast betting predominantly features (but not exclusively) in horse racing and greyhound racing. The idea is to predict first and second place in the race with the stake being applied to the forecast payout. This payout is determined by the Computer Forecast Returns within the betting industry (horse racing and greyhound racing) or occasionally, as is with sports forecasts, by the bookmakers themselves.
The payout is not like the double in the fact that the two sets of odds pre-race are used to determine payout. The general premise to the payout is how likely the winner was to win (i.e. the odds given) and how likely second place was to come second. So if the favourite for the race wins, the odds for anything else coming second will shorten, because a selection has been removed from the pool. If a strong selection wins (but not the favourite), then the odds of the favourite to come second will shorten even further. There are myriad of different circumstances that determine the forecast dividend.
A tricast works in a very similar fashion, but the first three selections must be chosen in order to win the bet. The payout is more complicated still.
Horse racing tricast bets are available on all 'Handicap', 'Nursery' and 'Rated Stakes Handicap' races provided six or more horses are declared to run and 4 or more actually run. Greyhound tricast bets are available on all races provided five or more greyhounds run.
The following are some forecast and tricast bet types.
 
Straight Forecast – A bet that predicts first and second in the race in the correct order. The nominated selections must finish in the stated order. The stake is multiplied by the forecast dividend to determine payout.
If the bettor has the winner and a non-runner, the bet is generally paid out as a win single. If no forecast dividend is declared, the bet is void. If only one horse crosses the line, the bet is paid out as a win single (the last three rules are a general guide, some bookmakers may differ)
 
Reverse Forecast – A bet that states two selections to finish first and second either way around. There is a total of two bets here, selection 1 to beat selection 2 and selection 2 to beat selection 1. Double the unit stake is paid for this and the same rules apply as they do for a straight forecast, i.e. £10 reverse forecast is £20 altogether. The payout dividend is just the same as a straight forecast.
 
Combination Forecast – This bet features more than two selections but is still attempting to predict first and second place in the correct order. Every possible combination of first and second is derived from however many selections there are and the bettor must pay for each combination. To calculate the number of combinations for a forecast, one must multiply the number of selections by the number of selections minus one. E.g. for three selections, three multiplied by two (number of selections minus one) is six possible combinations. So a £1 ‘combi’ forecast of three selections would cost a total of £6. If there were five selections, the total number of combinations would be 5 x 4 = 20.
 
Straight Tricast – A bet that predicts first, second and third in the correct order. The payouts for a tricast are always more than a forecast and can range from around £20 to many thousands of pounds.
Rules differ from company to company but generally if there is a non-runner, the straight tricast becomes a straight forecast and if there a two non-runners, the bet is void.
 
Combination Tricast – A tricast bet that has more than three selections that can finish in any order for the bet to win. The bettor must pay for every combination that is possible when placing this bet. For example, 3 selections in a combination tricast (as opposed to just a straight forecast) would involve six combinations and therefore six times the unit stake. Four selections would provide twenty-four possible combinations for first, second and third and five selections would be sixty possible combinations.
 
Straight Forecast/Tricast Double – This type of bet incorporates the rules of a win double and a straight forecast/tricast. The payout of one forecast/tricast will act as the stake for the second forecast/tricast and the potential winnings can be very large.
 
Reverse Forecast Double – A bet incorporating the rules of a double bet and reverse forecast bets. Staking for such doubles can soon get very expensive. A reverse forecast double over two races involving only one reverse forecast in each race would be four separate bets. Two reverse forecasts in each of two races would be sixteen bets.
 
Combination Forecast Double – Bets that incorporate the rules of a double with the rules of a combi forecast or tricast. The potential payouts are large but the staking also has the potential to get very expensive. One, three selection, combi forecast in each of two races will equate to thirty-six separate bets.
 
Sports Forecast – Occasionally, bookmakers offer forecasts on other sports other than horse and greyhound racing. They act in a similar fashion in that one event must occur before the other but they are fixed odds betting and a price is offered before event occurs. There is a bit of a grey area as to whether these bets are doubles or forecasts. The most popular sport forecast is the ‘scorecast’ in football. This bet involves predicting the first goalscorer and the correct score of the football match. An exact score must be picked because if a player is nominated to score and then simply whether a team will win, draw or lose, this classifies as related contingency, because a player scoring will drastically affect those odds.
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