Rule 4 (general terms )

When a horse is withdrawn shortly before a race and there is insufficient time to form a new market, a deduction is made from all winnings. The amounts deducted are set by Rule 4, which is laid down by the Tattersalls Committee, the body which controls horse race betting in the UK. The shorter (lower) the price of the horse at the time of withdrawal the bigger the deduction. (The returned stake money is not subjected to a percentage deduction.) Current values are: