Thanks to those who entered last week and helped to raise a total pool of just over £4,000. Sadly the excitement didn't last long. Let's try to get more in the pot this weekend.
The good news is that the bet is an even better prospect than last week! The bonus-seeking punter couldn't find the winner of the Grand National Trial, so that rolls over. And so does the win fund, which means there'll be nobody with a chance to get their hands on the bonus this week. The win rollover will be about £90k and the bonus (if we won next week) would be at over £700k.
A few changes: I've amended the terms to allow me to pay a tip of up to 1% of our gross winnings to the staff at the shop we place bet. I've removed the upper cap of the syndicate. I reserve the right to close entries at some stage before Friday evening if there is too much interest, but I'll try to give at least a couple of hours' notice. A small amendment to what happens if we win the placepot. I've also removed the condition about only playing if Fred offers his £100k, although I'd be surprised if he doesn't.
Info from last week, below:
The bet is Scoop6 run by the Tote. Basic idea is that it's a £2 bet in which you to correctly identify the six winners of the big races of the day - normally the six that are televised on C4.
£2 buys you one horse in each race. Obviously that's pretty hard so you can opt to have more than one horse in the races at a cost of extra lines. Each perm of 6 winners costs £2. So (for example) have 3 horses in each race you'd be covering 729 lines (3^6).
The 'pot' you're trying to win is divided in three. A "win fund", "bonus fund" and a "place fund". The win fund is shared between all those who find the six winners. The bonus fund is separate and is played for the week following by the winners of the win fund. It is one race selected by tote which each winner has one selection in. If their selection wins, they win the bonus fund. The place fund pays out a (normally) modest amount if all of your horses place.
For example, if we play on 15th Feb and hit all six winners we would take our share of the win fund. We'd then qualify to select one horse from the nominated race on 22nd Feb. All the previous weeks' winners who nominate that horse would share the bonus fund.
The reason it's a good bet this week is two-fold:
1) The bonus fund has rolled over for a few weeks now and stands at over £670,000. There was one win fund last week so he's playing for the whole lot. He will have one selection at the toughest race of the day, if he picks the winner he gets it all. If he doesn't, it rolls over again and will be available to play for by the winners of this week's Scoop.
2) Betfred has in recent weeks offered a "bonus" of £100,000 to be shared between any win fund winners who place their scoop6 bet at a Betfred shop. This is crazily generous when you consider that last week's winner only won about £55,000. Anecdotal evidence suggests that, despite this inducement, a fairly low proportion of players use Betfred to place the bet. A couple of weeks ago there were seven winners, who took 60k each, and nobody placed it at Betfred.
If anybody has any horses they want to be included then let me know ASAP. I'll start working out a perming strategy and horse selections towards the end of the week.
1) It's £25 per share, no limit on number of shares per person but it's first come, first served. No fixed limit on shares but I reserve the right to close entries if they become too popular.
2) No commission or anything silly, I'm buying in at the same price of £25 per share
3) If the net returns exceed the amount staked then I'll pay out your total return within 7 days of payout
4) If the net returns are lower than amount staked but not zero (if we win some place money, likely) then the money will count as "credit" for the following week's syndicate. If we don't play the Scoop6 the following weekend (my decision, but likely if there are several win fund winners which don't include us) then we'll play the totejackpot with it.
5) I have the final say on horses subject to the above - get in touch if you have any picks you want in the perms
6) I'll have the bet placed by 11 am on 22nd February. I'll take a photo of the selections and email it out to all investors so you know what to cheer home.
7) I have the right to pay the Betfred shop staff a tip of up to 1% of gross winnings (only to be exercised if we hit a big one!).
SYNDICATE IS CLOSED
Please check very carefully the list of investors. If you're not on there, you haven't got a share. If you are, you're signed up for the number of shares that list indicates. If I have been paid money which doesn't reflect on that list then you're entitled to a return of that money whether we win or lose. You will not be entitled to a share, so check carefully.
List so far:
White Riot 1
anfield (?) 2
Banana man 1
239 shares = £5,975