KEY POINTS:
Outside of the owners of Master O'Reilly, there were no winners in Saturday's Caulfield Cup disaster.
Traditionally bookmakers would have been huge winners if the two favourites were pulled out of a major race late in betting.
Until two years ago Australia bookmakers operated under an all-in system
- if the horse you backed didn't start, tough luck.
In 2005, racing's regulators changed the rules that refunds had to be made on horses backed after the date of declaration of intent to run and later scratched.
In this case all bets placed on Maldivian and Eskimo Queen after last Monday must be refunded.
The trade-off being that bookmakers are now permitted to make deductions on the prices bet on the winner from the same point on Monday.
In Australia the deduction for those who backed Master O'Reilly since Monday was 52 per cent of the face value of the ticket.
The New Zealand TAB deducted 38 per cent.
"It was 32 per cent for the Maldivian scratching and six per cent for Eskimo Queen," said TAB bookie Thad Taylor.
Despite the rule change, many Australian punters who backed Master O'Reilly have been upset.
"I know it's the first time we've actually had to invoke this rule in a major race, but it's been in place for two years," said one bookmaker.
"I've had 72 calls this morning and every one of the has been either moaning or abusive. What are we supposed to do - it's the rules?"* New Zealand trainer Shaune Ritchie was yesterday searching for a rider for Magic Cape in Saturday's Cox Plate.
"I want an Australian rider who knows Moonee Valley well," he said.
"I haven't been worried because I figured there might be a defection in the race which would free up a jockey.
"There are likely to be only 11 runners and there are still plenty of good jockeys without a ride."
Ritchie has tentatively booked Craig Newitt, who will be available if Eskimo Queen runs in the Moonee Valley Cup, rather than the Cox Plate on Saturday.
A decision on that is likely to be made today.
Ritchie will not be taking Magic Cape to the Breakfast With The Stars at Moonee Valley on Tuesday.
"Some of those other horses, like Marasco, will be used to that hyped atmosphere, but my bloke isn't so used to it and he's better off relaxing at home."
* Sculptor guaranteed himself an attempt on the A$5 million Melbourne Cup with his stylish victory at Wanganui on Saturday. Trainer Peter McKenzie had wanted to commit to Melbourne when Sculptor raced at Hawera the previous weekend, but afterwards felt the horse was too soft in condition and needed a win to reassure himself.
Sculptor is 35th in order of entry to the Melbourne Cup, but a win in the Saab on the opening day of the Flemington carnival would guarantee him a start in the big race.
Even without a Saab win, the natural attrition rate of horses dropping away as the Cup draws near may be enough to land him a start.
Matamata mare Irlanda will look at the fillies and mares' races, rather than the handicap events after her Lion Red Stakes win at Rotorua on Saturday. She showed her class even though unsuited by the rain-affected footing.