The Jockey Club will soon announce a change to the way Place dividends are calculated, with the controversial dividend range replaced by a single approximate Place dividend.
Chief executive Winfried Engelbrecht-Bresges said the change will be ready to go at the start of the new season in September.
Hong Kong has used a unique approach for calculating place dividends, offering a range of potential dividends for place bets that may have been as varied as $17 to $71 (for $10 unit), with the final place dividend for a horse dependent on the popularity of the other placegetters.
The club may have to absorb some losses when a short-priced horse like Sacred Kingdom runs a place, but the benefit should be substantial growth in the Place pool, with serious punters likely to take fresh interest in the product - especially as it attracts 10 per cent rebates on losing bets of HK$10,000 or more.
