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2) Hit Rate is changed such that Place bets only count as a 'hit' if the Place mutuel is as good as or better than the Win mutuel (i.e. it was a better bet).
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Hi Ted,
To my way of thinking and in my opinion, a losing bet is just that and should be scored as just that.
It seems that the hit rate in your contest is predicated on the total amount bet and not on the individual type bets. To me, even though some are making proportional money bets and counting the total profit on the multiple bets as an individual hit, does not in my opinion, exemplify a true hit rate. A true hit rate is based on individual, profitable bets whether they be win or place. A losing bet is a losing bet and should be scored as such.
Being as I have not participated in the contests, I really don't have much to say about them but am just offering my opinion.
Most contests that I've seen are predicated on the actual money won.