INTRODUCTION TO FAQ V 4.4 Last Updated 3 Jul 2014 Frequently Asked Questions Everything you need to know. To make your experience of using RewardBet more enjoyable, the following guide answers a number of frequently asked questions. If the question you have is not answered visit our support area by clicking on the Support link at RewardBet - www.rewardbet.com Note, our email support is not 24/7 but we ll try and get back to you as soon as possible. Hopefully, most questions can be answered by this guide and our support site. It s Simply More Rewarding! This guide has been prepared by RewardBet Pty Ltd (ACN 154 372 380) as information to customers whom may be considering using the RewardBet software with a betting account. The information in this guide is of a general nature only and should not be relied upon to validate any decisions in regards to betting with your Luxbet or Dynabet account. Please consult the RewardBet agreed signup Terms. RewardBet (Registered Trade Mark) is protected by AUS and International Patent Applications. Copyright (c) 2012-14 Bet Solutions Pty Ltd
OUR BETTING PARTNER We Partner with Luxbet (Tabcorp) Our Betting Partner Part of the TABCORP group, Luxbet is a corporate bookmaker registered in NT. Fantastic promotional offers are available every week. RewardBet is a simple, yet sophisticated product. One of its exclusive features is the ability to place all your bets to the exact cent. No other product allows you to do this! Luxbet.com have changed their computer systems to allow RewardBet to interact with them to provide you with this exact and precise betting ability therefore allowing you to bet more professionally. Luxbet offers SuperTAB dividends for exotic bets and provides the best of 3 totes plus SP (LuxDiv) for win bets. You can view your bets as normal on your Luxbet account and we also provide a valuable summary through the RewardBet interface. In 2014, RewardBet won the industry s leading software award - a major accolade for a product that had been only recently launched!
ABOUT REWARDBET What Is RewardBet? RewardBet is an award winning, revolutionary, quicker, more engaging and more profitable way to place bets on Galloping, Greyhounds and Harness racing. RewardBet is an application (program website) which assists punters to place their bets on their LuxBet account in the same way as professional punters and large betting syndicates. The major difference is the punter does not have to bet in the hundreds or thousands like the professional punters or punting syndicates because bets as low as $5 per race can be professionally bet using RewardBet. RewardBet is FREE to use and FREE to join.
ABOUT REWARDBET Where Can I Use RewardBet? RewardBet has been designed to be the quickest, simplest and most profitable way to place your racing bets. It is accessed simply by going to www.rewardbet.com - where you can login quickly to your account. RewardBet is NOT an app - so you don t have to download anything - which means it can be used on all types of smartphones, tablets and PCs. It is also focused on what is most important to you - betting. There are no d i s t r a c t i o n s a n d u n n e c e s s a r y downloads. Simple, quick, effective. RewardBet is able to be used anywhere you have an internet connection on most devices.
ABOUT REWARDBET Who Is Behind RewardBet? RewardBet was invented and designed by Greg Conroy - who has worked in the Australian wagering industry since 1986, including being part of the team to create the first internet wagering site in Australia and probably the world, in 1995 called ibet. RewardBet has a team of professionals behind it and has patents around the world with many operators enamored by the product. RewardBet s mission is to provide a product that gives the staking options that are only available to professional punters to everyone, and to create a faster, more intuitive, more exciting and flexible betting interface. Additionally, RewardBet aims to help the future of the racing industry, by engaging more recreational customers both on and off-course to enjoy the wagering industry and participate in what is the most exciting sport in the world. RewardBet s software is powered by Dynamic Race Odds - a program used by many professionals and bookmaking companies around Australia.
ABOUT REWARDBET Is RewardBet a Bookmaker? No, we are a software company that created a program that makes betting a whole lot better. W e d o n t a c c e p t d e p o s i t s o r withdrawals. You still do those via the Luxbet website. What we do is allow you to use is our software program, RewardBet, via our secure website. Your bets are placed onto your bookie account automatically, after you ve linked your account details to RewardBet. We have made RewardBet Free to help the racing industry - the more people who use RewardBet, the more wagering turnover and the more prizemoney available. And that s great for everyone!
ABOUT REWARDBET How Easy is RewardBet to Use? RewardBet could not be simpler! There are just three simple steps to place ALL your bets for a race, in just a few seconds. It is designed to be used by all punters - the first-timer through to the experienced punter. RewardBet allows you to place your bets quickly, with confidence that you are betting all your selections in the most astute way possible, to maximise your returns. We have many professional punters that use RewardBet as well as many recreational bettors. Everyone can benefit by using RewardBet and after trying RewardBet you ll never go back to the tiresome, bet by bet placement you re used to.
ABOUT REWARDBET Why Do I Need RewardBet? If you want to bet like professional punters and punting syndicates, but within your personal betting range, RewardBet is for you. RewardBet is a program that calculates how much should be bet on all the combinations within the number of selections you nominate per race. When you submit a RewardBet, ALL the different bet sizes for EVERY combination is placed on your Luxbet or DynaBet account within seconds. There is no need to make different bets for different amounts like you re used to doing as the RewardBet program does all this for you!
ABOUT REWARDBET Advantages of Betting Professionally? We can all pick a winner but it is the staking of our bets that is often the difference between a professional and a recreational punter. Most recreational punters don t have the opportunity to stake their bets correctly. They choose nonsensical bet amounts and use flexi and box betting options because of practical convenience and lack of alternative options. RewardBet applies mathematics to ensure ALL your bets are created and staked correctly to ensure you can maximise your returns. Like professional punters bet! RewardBet users will receive more dividends and more returns - allowing their banks to last much longer - as well as placing all their bets much quicker AND to the exact cent automatically. (1) More dividends means that a RewardBet with multiple selections will return you more dividends than dutch betting those selections in the win market - as long as your selections run at least first and second. (2) Based on a large sample of 10,000 races. On any given event, your RewardBet return will be dependent on the selections you choose. However, for the same selections placed as a box bet versus a RewardBet, the returns were higher for RewardBets over a large sample. Your experience may vary and no guarantees are provided or implied.
ABOUT REWARDBET What Bet Types are available? At present we support Win, Quinella, Exactas and Trifectas - which cover the majority of bets placed in Australia. Quinellas are for two selections to run 1st and 2nd in any order. An exacta is similar, but they must finish 1st and 2nd in the nominated order. A trifecta, is for three selections to run 1st, 2nd and 3rd in the nominated order. We have plans to introduce First Fours but that s dependent on the capacity of our betting partners computer systems. Additionally, we are excited about a future feature for betting on RewardBet Quaddies. Remember that using Custom levels you can use any combination of Win, Quinella, Exacta and Trifectas. Eg, exclude Win bets, just bet Quinellas and Exactas or just bet Trifectas. We don t support single place betting as the value in single place betting is marginal. Exotic bets do require place getters and hence if you are a place bettor only, then RewardBet can still be of value to you.
SIGNUP Signing Up With RewardBet To use RewardBet, you need to create a RewardBet Account. This allows you to use RewardBet with a range of wagering operators in the future, but currently we support Luxbet.com It takes just a few seconds. You can use one RewardBet account to switch your bets between different bookmakers and the TABs (in the future). We ve made joining as simple as possible - just like RewardBet! To open a quick RewardBet Account: Go to www.rewardbet.com Click Join Free. Enter your details. Easy!
Linking Your Wagering Account(s) The first time you use RewardBet you should link and save your Luxbet account details in your Account Settings. This allows you to easily use your account(s) with RewardBet when you bet. 1. Login to your RewardBet account. 2. Click on Account 3. Click on My Betting Accounts Here you enter and save your LuxBet Username and Password. Click Enable button to start, enter your username and password for your Luxbet account and Save Details when you are finished. This step only has to be done once. If other people have access to your phone or computer then you may prefer not to check remember my details on the RewardBet Account logon screen.
Six Selections Per Race Limit We decided to impose a limit of six selections per race after extensive mathematical analysis of thousands of races. If seven or more horses are bet the outlays will be too high in relation to the returns. You ll find limiting your selections to no more than six in a race will reduce your combinations bet and increase your returns. Of course, you can easily place multiple RewardBets if you want to bet more selections in a race. The feature called Market Gauge will highlight in red where the outlay is out of proportion to likely returns even if there are less than six runners used. Nonetheless, we have plans to allow more than six selections in exotics when bankers are used.
Using the Market Gauge TM Once you have ticked all your selections look at the market gauge shown at the bottom of the Step 1 - Selections screen. If it is red, you should consider stopping, like a traffic light. The larger the market gauge figure, regardless of colour, the less overall value the race represents as a betting proposition. Something has to be changed. Usually making one or more of your selections as a banker will reduce the market gauge figure and change the colour indicating your bets are now representing value. On other occasions, a high market gauge indicates you ll probably want to target a higher return Reward Level such as Platinum or Diamond. The Market Gauge is another way that RewardBet is designed to help you win more.
Bankers: (1 of 3) - What Is A Banker? One of the most important tools in RewardBet are the Bankers. A banker is a runner you nominate for a defined position, eg: for 1st only (which is the most popular banker). You can have multiple runners chosen as bankers. Touch a runner a second time to make it a banker for 1st, and additional touches will cycle through to making it a banker for 2nd and 3rd respectively. Banker selections will reduce the number of individual exotic bets you place, increasing the proportion of your t o t a l s t a k e o n t h o s e b a n k e r combinations. Until you are used to using Bankers, we suggest you use the bet preview button to ensure that the combinations that RewardBet will be placing corresponds with what you want to take. NB: We do NOT recommend using Internet Explorer with RewardBet unless it is version 10 or higher. Some customers with IE version 9 have trouble placing bankers with RewardBet. Our recommended browsers are Chrome, Firefox and Safari, NOT Internet Explorer.
Bankers: (2 of 3) - Bankers For 1st A banker for 1st is the most common and the most practical banker to take. A banker for 1st is a great way of reducing your market gauge as it reduces the number of selections that you are relying on to WIN the race. RULES: A SINGLE banker for 1st will ONLY appear in your exotics in the 1st position. MULTIPLE bankers for 1st will ALSO FLOW to the OTHER POSITIONS in your exotics where appropriate, ie: where your other bankers still occupy the 1st position. This is logical as it is entirely possible that one of your bankers will WIN and the other banker will come 2nd or 3rd. This is the rule that we put in place for RewardBet as it is the most common way customers wanted bankers for 1st to be treated. NB: We do NOT recommend using Internet Explorer with RewardBet unless it is version 10 or higher. Some customers with IE version 9 have trouble placing bankers with RewardBet. Our recommended browsers are Chrome, Firefox and Safari, NOT Internet Explorer.
Bankers: (3 of 3) - Bankers For 2nd, 3rd Bankers for 2nd or 3rd are used when you are certain that a runner will come in that placing. Bankers for 2nd or 3rd are much more difficult to win but you ll receive more as t h e y e l i m i n a t e m a n y o f y o u r combinations. RULES: Bankers for 2nd or 3rd MUST fill the exact position (ie: 2nd OR 3rd) you nominate for you to have a chance of receiving a dividend. They do NOT flow down to the other spot automatically (like multiple bankers for 1st do). So if you have a selection for 2nd and it comes third then you will N O T r e c e i v e a r e t u r n o n y o u r RewardBet. We plan to introduce Duet bankers (1-2nd; 1-3rd; 2-3rd) that will allow you to cover off the multiple places, especially 2-3rd in the future. Until then think carefully if you want to take a banker for 2nd or 3rd as they are precise bets. NB: We do NOT recommend using Internet Explorer with RewardBet unless it is version 10 or higher. Some customers with IE version 9 have trouble placing bankers with RewardBet. Our recommended browsers are Chrome, Firefox and Safari, NOT Internet Explorer.
Can I Use My Normal Box or Flexibet? The reason why many punters have a disappointing experience with exotic bets is because they are having the same amount on their well fancied combinations as they are on their less likely combinations, which is what happens when you box bet. B o x i n g a n d F l e x i b e t t i n g i s mathematically unsound and professional punters rarely use this approach. RewardBet is specifically designed to overcome this problem by calculating the precise amount, down to the cent, for each combination so no matter which combination wins the collect will be about the same. This is THE way professionals bet. RewardBet is the only product in the market place that allows you to bet all your exotic bets individually, to the exact cent and that s why we bet with Luxbet.
What is a Target Estimate? The RewardBet target figure is an estimate of the return on the race if the nominated runners fill the required placings, depending on the bet types chosen. The closer the prices entered are to the closing prices when the race starts, the more accurate the target estimate will be. The estimate is not guaranteed but it is very accurate, and often you ll find your returns actually exceeding the estimate. RewardBet s ability to provide accurate estimates for exotic returns is another great and exclusive feature. Note, if you are using the Edit Own Prices feature, the estimates will not be accurate unless your prices are close to the final market prices. However, if your prices represent value to the market, you ll find you ll receive much more than the target estimates - what s called an overlay.
Increasing The Target Accuracy If you are betting some time before the race starts, see if there are TAB Fixed Odds or AAP Prepost prices available in the Price Source when selecting your runners. These will generally be a good guide to the chances of each runner and may return you a more reliable estimate than using the the current totalizator prices. Also choosing Average Tote in your price source will generally provide a more reliable source of totalizator prices than a single tote source. RewardBet uses the runner prices to calculate the target estimates. The more accurate or close to the final market these prices are, the more likely your estimates will correspond to your returns.
What are the Reward Levels? The Reward Levels are unique to RewardBet and are the heart of our simple but powerful betting application. A Reward Level is simply the way we allow you to choose how much of your total stake is bet on which particular bet types across your chosen selections. The Bronze level will put more of your total stake into the easier bet types, such as Win compared to the Diamond level that puts most of your total stake into the Trifecta bet type. We estimate the amount you will receive with our target amounts. Reward Level is a way for you to translate the confidence you have in your selections into a range of bets based on your total stake. More confidence and more risk will potentially lead to greater rewards!
Reward Levels BreakDowns If you are using RewardBet on a PC or tablet and there s enough width, all the breakdowns will be displayed (see image top left). If you re using a smart fone, some will display the additional breakdowns if you rotate horizontally. Otherwise, you can simply select a Reward Level and you ll see all the breakdowns across 1st, 1st & 2nd, and 1st, 2nd & 3rd. Clicking the top left box on Step 4, will give you even more detail, with the individual returns per bet type as well (see image bottom left). The target estimates are a unique feature of RewardBet and they will help you to stake appropriately.
Setting A Custom Reward Level The Custom Reward Level is available in your RewardBet settings. It allows you to create your very own Reward Level tailored for the way you want to bet! It allows you to set the percentage of your total race stake across the different bet types. Eg, if you are betting $40 per race you can set the Custom Reward Level at 50% win and 50% trifecta, meaning that half your stake will be put towards win and the other half trifectas. You simply set the percentage of your Total Stake that you want to distribute across the different bet types supported according to the number of selections you ve chosen in a race. Do you just like Trifectas? You can set a custom level so that 100% of your stake is placed on trifectas. This means that only trifecta bets will be placed but bet accurately, rather than flexi box betting. You set the percentages, RewardBet does the rest.
Using A Custom Reward Level The Custom Reward Levels literally provide millions of possibilities and means that every punter can use RewardBet to win more. For example, if you ve placed win bets already on the race (maybe taking early fixed prices with a bookie) then you can still use RewardBet by setting up your Custom Reward Level so that there are no win bets placed in the RewardBet. This allows the best of both worlds! Once enabled, the Custom Reward Level will appear below the Diamond Level on the screen. About a quarter of customers use this level - some only betting Trifectas, others betting only win, etc.
Pre-selecting Your Runners and Recalc If you are betting close to the race start, the fixed odds market and the totalizator prices can change dramatically. A good tip is to select your runners and Reward Level and stop at the final submission screen (step 4). As the race approaches (especially if you are watching the race) you can select the Recalc button and RewardBet will update your estimates based on the most recent market prices automatically. However don t be too obsessed with obtaining the most up-to-date prices as you may miss the race! You ll find that things will even out - sometimes you ll get much more and sometimes less than expected with regards to the estimates.
What is the Pool-Size Warning? When betting the lower class meetings the amount bet in the race can often be quite low. As an example if you bet $200 in a betting pool of $1000 you are betting 20% of the betting pool and your bets will influence the dividends. If your bets influence the dividends, the Target Estimate, a key factor in deciding whether to bet or not, will be incorrect. RewardBet will attempt to alert you that the available pool at the time you are placing your bet into may be affected adversely by the size of your bet with a Pool Size Warning message. Use this as a guide and consider whether your total stake should be reduced to alleviate the problem of over-betting into the available pool.
Using Your Own Prices Feature Some punters like to set their own prices against the chance of each of the main contenders in a race. If the favourite is not liked at $3, the punter may extend it to $5 whereas a horse quoted at $7 may be adjusted to $4 if a punter thinks it is a good chance. By clicking on runner prices on steps 2, 3 and 4 you can adjust the displayed prices easily to reflect your own prices. This is powerful if you use ratings or even if you are betting close to a race start and think a price may change in the market. Note: You can also use this feature to lay a runner by adjusting its price outwards and accordingly your bets will have less money on this runner, working to maximise your returns if your other selections win. NB: Target estimates are much less reliable when using your own prices.
Using Commercial Ratings Feature RewardBet supports commercial ratings. The two ratings providers available are Champion Ratings and Winform. If you are a subscriber to the ratings, you can add your details within the My Ratings section of the Account and the ratings will display automatically on your screen (as shown). You can also use the ratings as a Price Source so you can quickly bet the rated prices through RewardBet. Using ratings is a very good way to use RewardBet as you are betting to the rated prices and choosing overlays meaning you should multiply your advantage when your ratings are correct.
What About Late Scratchings? The effect of Late Scratchings and Abandonments is the same as your current betting - you will receive a refund on all the affected individual bets. Of course, a late scratching - if it is short in the market - will significantly affect your target estimates and you won t be able to rely on the estimates made before a late scratching, since the market and runner prices have changed. Remember you can always view your full account balance and bet history on the LuxBet website. The wagering company record is authoritative and supersedes any records shown via the RewardBet website, although we provide a very convenient my bets facility.
Impact of Betting When a Race Closes RewardBet can place a current m a x i m u m o f 1 7 1 b e t s i n O N E RewardBet! This happens usually very quickly but can still take up to 50 seconds in extreme cases or on busy days. If RewardBet detects a problem with any of your bets not being placed a red screen will be displayed showing the bets that were accepted in time. Click on Show Bet Details to see exactly what bets were placed and the reason for the error - usually being that the race is closed. Unfortunately, target estimates and returns will be affected. RewardBet normally places your bets in order of bet cost, within Bet Type, meaning that the most likely bets are placed first.
Deposits and Withdrawals? RewardBet doesn t handle account deposits and withdrawals as we are not a bookmaker or totalizator company. You can access your LuxBet account via your usual methods in order to do deposits and withdrawals. Your account balance is shown on RewardBet for convenience when you are placing bets and there is also a summary betting statement on RewardBet provided by My Bets. RewardBet provides a very convenient summary of each of your races in the Summary Statement - highlighting the individual bets that won and providing a total of all your returns on the race. You ll find the RewardBet statement is better than the Luxbet alternative in its convenience and design, however it is not authoritative and is only our record of the transactions.
MyBets and RewardBet Advantage The additional return you can receive via RewardBet s staking we refer to as the RewardBet Advantage. To illustrate its effectiveness, we show when you receive a RewardBet Advantage in the My Bets history using a star system - where we illustrate the percentage increase and the absolute money increase from RewardBet s staking. This is a handy reinforcement to you about the great benefits from staking proportionately like RewardBet does. If you find yourself not hitting RewardBet advantages you may want to look at using the Edit Prices feature on your selections to make them firmer (shorter) in the marker - we talk about such strategies regularly in our product newsletters which you can read on our website.
Your Account Settings If you want to change your RewardBet details (such as email address, phone number or password) you can do this via our RewardBet website Account settings. Click on the Account button. Any details relating to your LuxBet account such as registered deposit and banking details must still be done via their respective websites.
KNOWN ISSUES What Are The Known Issues? RewardBet is powered by the systems at Dynamic Race Odds. This is a service w e l l t e s t e d a n d u s e d b y m a n y professionals and bookmakers. There have been millions of bets placed through RewardBet so it has been well tested. Using RewardBet on a phone during severe network congestion (eg Spring Carnival) can cause it to run slower, however, you ll find that RewardBet is probably the best alternative of all the mobile facilities as it has been specifically designed to be as lean as possible and just place bets. Our support site will list any issues we are aware of. If you find something unusual, please attempt to record it or take a screen shot and email us at support@rewardbet.com so we can investigate the issue.
REWARDBET EXTRA Watch List - Clicking on the Open or Interim icon on My Bets will bring up the RewardBet watch list which provides you with a summary of what runners you need to focus on during the race! RewardBet supports Galloping, Harness and Greyhound betting. Many customers find RewardBet s staking beneficial when betting into greyhound and harness races. If you re traditionally a customer that bets trifectas in a fixed fashion, such as 2 x 3 x 5 standouts, then now is the opportunity to change your ways for the better. Rather than take a fixed amount of runners, use the Market Gauge to take a certain percentage of runners for 1st as a banker (eg: 40% of the market) and then take the remainder of your selections as non-bankers. This is a much smarter way to approach such bets than the fixed standout format. Finally, RewardBet is a FREE product but it has cost a lot of time and money to produce and support it. Please spread the word about RewardBet as with your support we can make it an even better product for you and the industry. Thanks for your support. Miscellaneous Tips
HELP AND SUPPORT Contacting Rewardbet, and Luxbet Follow RewardBet Any issues with the RewardBet application then please consult our dedicated support site from the link at www.rewardbet.com There is also support (not 24/7) available via support@rewardbet.com email. Our Facebook page and Twitter Account RewardBet are also important and any technical issues are usually posted first to Twitter. Anyone can read our twitter account and you don t need to be a twitter user to see it. Just search RewardBet Twitter. If you have issues with your LuxBet account including funding and withdrawal questions, issues regards payment of dividends and all other account related issues then please consult the support links below. www.luxbet.com