OZgolf Punters Club Rules:
1. Currently, a once off payment of $55 (as of Jul 29, 2016) currently secures you a share in the club. This changes each round depending on the money in the kitty, and the number of punters.
2. A roster will be drawn up and posted so everyone knows in what order they will be betting.
3. We will be using a William Hill sporting bet account and everyone will have access to the login to see bets made, balance etc.
4. If you double the money that you have bet, then you can punt again the next week. i.e for a $30 outlay, minimum of $60 collect required to bet again.
5. If you win double the money, and go again, then bet that doubled amount next time. You will now need to win double the new amount to go again a third time. If you win twice, then it will reset to the original amount again for your third bet. For example, you bet $30 in the first round and win $60 or more. You will now bet $60 needing $120 to bet once again. If successful, the third betting round for you will be a $30 bet.
6. Winnings to be distributed only after everyone has punted. Alternatively, you can leave your money in for the next stage..
7. It is anticipated that bets will be a minimum of $30 and payouts for each bet should be at least $60. This will not however be strictly enforced, as to entice some of our exotic multi-bet punters in the ranks. (e.g having a $10 place bet on a horse @ 2.80, to win $28 is not encouraged.)
Round start: July 29, 2016
Starting balance for this round is : $1013
Betting amount: $55. ($110 needed to go again)