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Betting on horse racing is an interesting and lucrative pastime for many people, it has been around for centuries and it’s one of the most popular forms of gambling in the world.
This article is for those who are interested in TAB horse betting but don’t know where to start. It will cover the basics of sports betting, the different types of wagers, and how to make money from betting on the TAB.
An introduction to horse racing in Australia
Horse racing is a sport where horses, rode by jockey’s, race around a track and the first horse to cross the finish line is declared the winner. Horse racing in Australia is a popular sport that is closely linked to the country’s colonial history. The first recorded race was held in 1810 at Hyde Park, Sydney and since then horse racing has become one of the most popular sports in Australia with many races being held throughout the country every year.
The most popular race each year is the Melbourne Cup, which attracts around 120,000 attendees and hundreds of millions in bets. In 2020 there was a record $221.6 million bet on the Cup across Australia.
The basics of horse betting
A bet is a wager on the outcome of a particular race at a particular set of odds. Odds are a measure of how much you can win compared to how much you bet, per $100. The odds are expressed as a ratio, so if you bet $100 on a horse with 1:2 odds, you would win $200.
There are many types of bets you can make on horses, however the two most common types are straight wagers and exotic wagers. Straight wagers are simple and can be made with a small amount, while exotic wagers require more knowledge about horses and their skillsets, but they also have bigger payoffs than straight wagers do.
To bet on races, you need an account with a licensed bookmaker (or bookie). There are many options available on the market, all with their own features and odds. Some bookies will offer bonuses to new accounts or specials for certain events to entice you to sign up. For this article, we’ll walk you through how to set up an account with TAB.
Setting up your TAB account
The easiest way to set up an account with TAB is online at this page. You’ll need to be over the age of 18 and have your identification documents ready for verification. The website is secured using the highest industry standards, so you can rest assured knowing your information is safe.
Head over to the TAB website and enter in your details. Once you’ve created your account you will need to add funds to your account that you will use to place bets.
For further help setting up your account see this page, and for help adding funds to your account see this page.
Placing your first bet
Now that you’ve got your account and added funds you’re ready to place your first bet.
If you’re new to betting it can be daunting placing your first bet. It’s important to do some research into the race you want to bet on, including the horses and jockey’s, before you decide how you want to bet. There are plenty of resources out there to help you get starting, like racenet, that provide race guides, betting tips, and news.
When it comes to placing a bet it’s best to always start small, especially while you are learning, and never bet more than you are willing to lose. Choose horses with better odds as they are more likely to win.
Looking to make money on the horses?
While most people bet on horses for fun, it can be possible to earn an income from horse betting.
Freedom Securities has been operating since 1996 and is a unique software system based on investing on the Thoroughbred Racing Industry (via the TAB). It is built on proven mathematical theory to deliver consistent investment returns and daily cash flow by selecting daily investing opportunities for you from the days races.
These opportunities are based on a tested mathematical algorithm and statistical probability, drawing on historical statistics which show that 85% of winners come from the top four favourites, so you can simply follow the system’s recommendations with confidence. Races with hot favourites do not fit the system, which is based only on races showing a more open field.
The best part about the Freedom Securities model is you don’t even need to know anything about horse racing because the software makes all the recommendations for you! You simply select the next race, within a set time limit, and within a few seconds, a complete set of odds and returns appear on your computer. If it fits, the system will tell you to place the bets.
What’s more, you can work from home (or anywhere!) while setting your own hours. We’ve already helped many of our clients break into this industry and can do the same for you.
Speak to us today to find out more.