(1)  A fixed-price bet on a race, other than a special race, is off if the competitor does not start in that race.

(2)  The following provisions apply to fixed-price bets on a special race:

(a) a bet is "all-in" if it is made before the day on which the special race takes place;

(b) a bet, made on the day on which the special race takes place, is off if the competitor in respect of which the bet is placed does not start in the special race.

(3)  If the controlling stewards allow, or order, the withdrawal of a competitor from a race after the time for scratching has elapsed, a bookmaker must –

(a) if instructed to do so by the controlling stewards, draw a line on the bookmaker's betting records for the race immediately below all bets then recorded in respect of the race; and

(b) settle all bets made on the race in accordance with the decision of the controlling stewards; and

(c) in the case of bets made on a race held outside Tasmania –

(i) settle all bets on the race in accordance with the decision of the controlling stewards; and

(ii) if the controlling stewards order any bets to be paid at totalizator odds, pay those bets in accordance with the dividend declared on the totalizator on the racecourse or, if applicable, other place where the race is held.

(4)  Subregulation (3) does not apply to an all-in bet.

(5)  Nothing in this regulation prevents a bookmaker from laying odds against a competitor in a race after the bookmaker has complied with subregulation (3) in respect of that race.

(6)  If the controlling stewards have allowed, or ordered, the withdrawal of a competitor from a race after the time for scratching has elapsed –

(a) the official starting price for a competitor in the race is to be the price as declared pursuant to regulation 23 ; and

(b) that price is not subject to any order, as to betting, made by the controlling stewards in respect of the race, unless that price was declared before the withdrawal of the competitor.

(7)  Except as provided by this regulation, a bet is not capable of being declared off otherwise than by agreement between the parties to the bet.

Subdivision 3 - Settlement of racing bets