The TAB has successfully set itself, and all of its affiliate divisions, up as one of the major wagering businesses in Australia. Success with TAB wagering is all about knowing the key betting types and wagering systems available. There is a vast variety of different horse racing and sporting events that the public can place bets or wagers on through either the TAB or other major betting agencies and bookmakers such as IASbet.
With TAB wagering products, there is now around 30 different sporting codes and horse races covered that include matches and fixtures from all around the world.
Some of the key races and games these bookmakers and agencies allow bets on include:
When it comes to wanting to know the best wager to put your money into, it is essential to understand all of the betting types available. Here we will explain some of the most common wagering choices, what they are, how they work, the odds and what they pay, and what is the best betting selection for different races and sporting games.
TAB added fixed-odds betting in 1996 when they began to offer sports betting. The amount and range of bet types available continues to grow, as the number of events and races increase. People are continually thinking of new elements to bet on in a game, and the wagering and gaming businesses are expanding their list of available betting options to incorporate these new wagers. The changes and additions in wagering are also a result of enabling technology. People are now able to place bets online, and computers are able to calculate betting odds, as well as offer Easybets and pick the runners for you.
The most frequently placed wagers for horse, harness and greyhound races include Win, Place and Each Way bets. These are the most popular bets, especially with first-time or unexperienced punters, as they are easy to understand and the winning odds are simple to calculate.
This is the most popular bet available because of its simplicity. All you need to do is pick the runner you believe will finish first in a race.
When you pick a runner, and if they finish first, second or third in the selected race, you collect a place dividend. To collect a prize for third place, there must be eight or more runners in the race.
Also seen listed as a Win/Place, an Each Way bet combines the above two bet types. So, if your chosen runner wins you collect both a Win and a Place dividend. But if your runner places second or third, you are only paid the Place dividend.
As well as these three general and straightforward wager types, a variety of exotic betting options are also available and widely used. These are often popular as they can pay punters high dividends, and make a race or match very exciting.
Correctly select the first and second place runners in a race, in any order.
Select the runners that finish first and second in the correct order.
Choose two of the three placegetters in a race, in any order. Only available in races where there are at least eight runners. Pays three dividends for the following combinations: first and second, first and third, and second and third.
Select the first, second and third place runners in the correct finishing order.
Choose the first four placegetters in the correct order in a race.
Correctly pick the winners of two TAB (or other betting agency) nominated races.
Select the winners of any two successive races at the one race meeting.
Choose four winners from four races nominated by TAB (or other betting agency) at the one meeting.
Where you select four winners from four races nominated by the betting agency, may or may not be at the same race meeting.
One of the more complex wagers, involving parlaying your winnings from one race into one or more other races. In other words, you create a single bet linking together two or more separate bets that is then dependent on all of those bets winning together. The All Up bet reinvests or parlays your dividends across all races, and all races must be successful to obtain a payout.
Another bet of a more complex nature, similar to the All Up bet, you again parlay your winnings from one race into one or more other races. There is a minimum of two and a maximum of six races for this type of wager. You can place a combination of Win, Place, Win and Place or Quinella bets. Using a Formula Number, you do not have to be successful in every leg to win. For example, if you take a Formula three bet over four races, the betting agency’s computer will automatically produce all the possible combinations of your three selected races. Then, to collect a dividend you need to be successful in at least three of the four races.
Aside from all of these wagering options, there is Flex Betting. Flex Betting allows you to take a Quinella, Exacta, Trifecta and First 4, with as many selections and combinations as you like for whatever amount you wish to put in. Some of these exotic bets also come with the options of Box, Standout or Roving Banker wagers.
When it comes to sports bets, the most common types are Single Bets, Line or Handicap Betting, and Margin Betting.
With sporting events and games, there is an even wider range of exotic betting options. For football games such as AFL and NRL for example, there are wagers for things like first scoring play, first player to kick a goal, first team to score, player to kick most goals for the match, and so on. When it comes to sports wagers, betting options cover not only singular matches, but whole rounds or seasons as well. So you could place a bet, for example, on the player to kick or score the most goals of the round.
As you can see the betting options are endless, but once you know the basics as outlined above, wagering on your favourite race or game becomes a lot easier. So go on, give it a go and add some excitement to the next race or sporting match you watch.