A dead-heat (also known as a Draw), occurs when two or more participants are tied for the same position in an event or competition.
When the participants dead-heat, the stake money is proportionately divided by the number of dead-heat selections and paid at full odds.
Example: If you win a $12 single bet with odds of $6 and two other selections finished tied for first place in a race, your $12 stake would be divided by three and then multiplied by full odds of $6.
As a result, your bet would be settled with winnings of $12/3 = $4, $4 x $6 = $24. Alternatively, $12 x $6 = $74, $74/3 = $24.