A tie in a race between two or more.
When two contestants finish the race at the same time. Outside racing, the dead heat is a situation where two sides or more of an event are competing evenly, and it is impossible to choose the winner. It can be used in describing situations connected with the world of sports, politics as well as business.
How bookmakers settle bets with the dead heat outcome?
Some bookmakers, for example, Betfair calculate in this way: They divide the stake between the number of participants and then multiplying by the odds to receive the outcome. If they are two of the participants the bet is called a half-face.