Prize Money

1. Prize money and how it comes about is quite complex in view of how the reserves and their payments are structured.
2. Race 1 will share in 5 % of the total pool of prize money.
3. Race 2 will share in 10 % of the total pool of prize money.
4. The feature race will share in 85 % of the total pool of prize money.
5. The total pool of prize money is the total sum of monies received, less GST, fees and expenses.
6. The total pool of prize money is a combination of paid birds from the start, $30 for reserves, $80 fee for reserves at race 1, $120 fee for reserves at race 2, and $210 fee for reserves left at the feature race ready to compete for the big prize, less GST, fees and expenses. In the home page there is a proposed prize money break down for all 3 races which will be adhered to on a percentage basis up or down depending on how many birds are entered and ultimately paid for.....to give a better idea what may happen , here is a scenario.... if we start with the full quota of 300 paid birds and 600 reserves and have considerable losses, which we would hope to avoid, the following is likely....start with a total of 900 birds....get 650 to the first lead up with all reserves paid for at $80, 550 birds at the second lead up with all reserves paid for at $120, and finally 450 birds at the feature race with all reserves paid for at $210 the total prize pool would be $156,763 only getting half the birds to the feature race. These calculations still provide an 8.1 % increase in prize money compared to the home pages projected prize money based on 500 paid birds without a payment structure. (1st prize would now be $54,056). Because of the complexity of the prize money it cannot be fully calculated until the final payments have come in.....therefore prize money for races 1 and 2 will be awarded on the feature race day, and prize money for the feature race will be paid out within 14 days. Finally all positions timed in by the Benzing M1 can be split by 1/10th of a second and so where possible positions will not be shared unless 2 or more pigeons are on the same 1/10th of a second. Why? In one or both lead up races it is very possible that many birds will arrive together and so it is possible that many birds will time in on the same second but can be split by 1/10th of a second. In an instance where 30 birds arrive together it could have the following scenario

1st timed at 13.09.11.2

2nd timed at 13.09.11.4

3rd timed at 13.09.11.5

Shared 4th, 5th and 6th all timed at 13.09.11.6

If 4th, 5th and 6th were in the feature race the 3 prizes would be added together and split 3 ways.

If however this happened in a lead up race 4th and 5th prizes would be added together with there being no 6th place, and still split 3 ways.