Amount of your bet; Type of bet you're placing; Horse's program number; For example: 'Churchill Downs, race seven, $2 to win on #4.' If you want to do a quinella bet, tell them: '$2 quinella on 3 and 5.' Now hand the teller your money and take your ticket. Keep it in a safe place. You'll need it to claim your money if you win. The line bet becomes Team A to win by more than 10.5 points or Team B to get within 10.5 points. The bookmaker sets the points margin to effectively make both outcomes equal, with odds of roughly $1.90 each. A line bet is simply a bet taken on a line betting market or a ‘pick your own line' betting market.
Prop bets (short for proposition bet) and specials are again two different terms used to describe the same type of wager. This particular type of wager is generally considered to be a wager that's placed more for a bit of fun than anything else, and many experts advise that serious bettors should leave them well alone. The following list spells out the betting procedure step by step:With the Totaliser (TAB) State the name of the racetrack. State what number race you're betting. State the dollar unit of your bet. State the type of wager. You can bet on a single horse to win or place, or on a combination of horses.
It's the biggest race on the Australian sporting calendar but who'll take top spot? Here are your latest best bets to take the top prize....
It's the biggest race on the Australian sporting calendar but who'll take top spot? Here are your latest best bets to take the top prize.
Picking a winner is never easy.Source:Getty Images
Melbourne Cup day is the biggest day of the year for betting.
Even people who don't usually gamble will slap down a bet or two on the race that stops the nation.
However, we know for things can get confusing when it comes to actually placing a bet.
But fear not because we have prepared an explainer of some of the most common bets so you don't look out of place when you head to the TAB.
WIN OR PLACE
This is one of the most straightforward bets you can choose, so if you want to keep things simple go for one of these.
In this type of bet you pick a horse and are betting it will win or place in the race.
With a Win bet you simply pick the runner you think will finish first in a particular race. If your hose finishes first then you win.
So if the odds for the horse are $15 and you put on $10 for the win, you'll get $150 back if it finishes first.
With a Place bet you choose a runner and if they finish first, second or third then you get to collect your win. You get a dividend for third place in a race with eight or more runners.
The payout is slightly less than a Win bet but you have more chance of winning.
EACH WAY
An Each Way bet is a combination of both a Win and Place bet
So if your horse comes first you collect a dividend for both the Win and Place bet.
If your runner comes second or third you only collect money for the Place bet.
QUADDIE
In this type of bet you must chose winners for four different races nominated by the TAB.
You can select any number of possible winners for each race. The number of horses you pick will determine how much you pay.
Quaddie dividends are for a $1 unit.
For example, if you wanted to pick three horses in the first leg, seven for the second, one for the third and four for the last leg then that comes to 84 possible combinations.
To receive 100 per cent of the dividend then it will cost $84 for the one unit.
TRIFECTA
In this type of bet you will choose the horses that will come first, second and third.
The horses you choose must finish in the correct order for you to collect your payout.
If you want a higher chance of winning there is an option to box your Trifecta, which means you will win if your three horses come first, second and third in any order.
However, depending on how many horses you box, this option costs more than the standard $1 unit.
FIRST4
This bet is the same premise as the Trifecta but instead of picking the first three horses, you must pick the first four.
Again, in order to collect your payout your chosen horses must place first, second, third and fourth in the correct order for a $1 unit, or you can box the horses like in the Trifecta above.
QUINELLA
For this bet you choose two horses to place first and second in a particular race.
Unlike a Trifecta or First4 your horses can place in any order so long as they are the first two to cross the finish line.
However, we know for things can get confusing when it comes to actually placing a bet.
But fear not because we have prepared an explainer of some of the most common bets so you don't look out of place when you head to the TAB.
WIN OR PLACE
This is one of the most straightforward bets you can choose, so if you want to keep things simple go for one of these.
In this type of bet you pick a horse and are betting it will win or place in the race.
With a Win bet you simply pick the runner you think will finish first in a particular race. If your hose finishes first then you win.
So if the odds for the horse are $15 and you put on $10 for the win, you'll get $150 back if it finishes first.
With a Place bet you choose a runner and if they finish first, second or third then you get to collect your win. You get a dividend for third place in a race with eight or more runners.
The payout is slightly less than a Win bet but you have more chance of winning.
EACH WAY
An Each Way bet is a combination of both a Win and Place bet
So if your horse comes first you collect a dividend for both the Win and Place bet.
If your runner comes second or third you only collect money for the Place bet.
QUADDIE
In this type of bet you must chose winners for four different races nominated by the TAB.
You can select any number of possible winners for each race. The number of horses you pick will determine how much you pay.
Quaddie dividends are for a $1 unit.
For example, if you wanted to pick three horses in the first leg, seven for the second, one for the third and four for the last leg then that comes to 84 possible combinations.
To receive 100 per cent of the dividend then it will cost $84 for the one unit.
TRIFECTA
In this type of bet you will choose the horses that will come first, second and third.
The horses you choose must finish in the correct order for you to collect your payout.
If you want a higher chance of winning there is an option to box your Trifecta, which means you will win if your three horses come first, second and third in any order.
However, depending on how many horses you box, this option costs more than the standard $1 unit.
FIRST4
This bet is the same premise as the Trifecta but instead of picking the first three horses, you must pick the first four.
Again, in order to collect your payout your chosen horses must place first, second, third and fourth in the correct order for a $1 unit, or you can box the horses like in the Trifecta above.
QUINELLA
For this bet you choose two horses to place first and second in a particular race.
Unlike a Trifecta or First4 your horses can place in any order so long as they are the first two to cross the finish line.
EXACTA
Tab Bet Types Beat
Similar to the quinella, but you must choose the first two across the line in the correct order.
Picking which horse you like is hard enough, let alone actually betting on them.Source:Getty Images
TAB and the three codes of racing in New South Wales today announced the launch of an exciting new bet type called Odds and Evens.
Odds and Evens has a much lower take out than other bet types giving higher dividends to the punter.
It might seem like a novelty form of punting, nonetheless it adds to the basket of bet types available to punters through the TAB.
This new bet type is being used to fund the $7.5 million Golden Eagle, run at Rosehill Gardens on 2 November 2019.
Also, it will fund a new $1 million race for Harness Racing NSW and a $1 million race for Greyhound Racing NSW of which dates and races will be announced in the near future.
Odds and Evens is a simple bet where the punter selects the saddlecloth numbers of the first two placegetters, whether these are odd numbers, even numbers or split, where one is an odd number and the other an even number.
TAB Odds And Evens Examples:
1. If the first two placegetters in a race are numbers 3 and 5, then punters who had selected the Odds option will win.
2. If the first two placegetters in a race are numbers 8 and 2, then punters who had selected the Evens option will win.
3. If the first two placegetters in a race are numbers 5 and 8, then punters who had selected the Split option will win.
The TAB will maximise the liquidity of the Odds and Evens bet type by merging the pool with Quinella bets.
Odds and Evens will be available on all race meetings wagered through the NSW TAB from 2 July onwards.
Tab Nz Bet Types
Racing Victoria will introduce their Odds and Evens initiative in the coming weeks, so expect to see these offerings before the big Spring Carnivals get underway from both jurisdictions.
