The marketing teams at Tom Waterhouse and Ladbrokes must have been comparing notes this spring. Hot on the heels of Tom Waterhouse’s $25 million prize pool for picking the first 10 horses in correct finishing order for the Melbourne Cup, Ladbrokes have announced a $10 million prize pool for picking the first 7 horses in correct finishing order.
Each entry to the Ladbrokes Megafecta costs $1 and you can place as many entries as you like. Flexi betting is available for this promotion, so you can select multiple horses to finish in each position. Each combination can be purchased for as low as 1 cent, allowing you to adjust your Megafecta entry to suit your budget.
You can view a myriad of other bookmaker promotions for the Spring Carnival in the Bookmaker Promotions section.
How winnings are calculated
If you hold a winning Megafecta entry, your dividend will equal ($10,000,000 / total number of winning shares) multiplied by your number of winning shares.
How flexi betting works
With Flexi Betting, you can increase your chances of winning by incorporating as many combinations as you want choosing a flexi-percent stake per combo to suit your budget. The matching flexi-percentage of the prize will be paid when you win with a flexi-bet, up to $10,000,000. For example, if you place a bet with 256 combinations and you nominate a 10% percent stake, the bet would cost $256/10 = $25.60 and the maximum you could win would be $10,000,000/10 = $1,000,000.
If a horse is scratched…
If a horse in your Megafecta is scratched, your stake on the affected Megafecta combination will be cancelled and refunded.
If there is a dead heat…
If a dead heat occurs in one or more of the placings, the horse will count as correctly placing in both positions. For example, if two horses dead heat for 3rd and 4th then all entries that have chosen that horse in either position will count as successful for that particular placing.
If there is a protest…
All official race results made by the relevant racing authority on the day will stand. Any subsequent protest or amendment made in future will not affect the Megafecta outcome.
Terms and Conditions
To win, you must nominate the horses that officially place first through seventh (and the correct order) in the Melbourne Cup.
The prize pool is $10 million if there are 22 or more runners.
Each unit costs $1. A share in a unit will entitle a winner to a reduced share in the prize pool.
If your nominated horse is scratched, your bet for that perm will be cancelled and refunded.
Dividends of up to $100,000 will be paid within 14 days. Dividends of $100,000 or more will be paid within 28 days.