Having a punt on a horse racing is the most popular form of betting at the races. Horse races can vary by distance of the race and the amount of runners in a race. All horses that compete in such races are thoroughbreds, which is why horse racing is sometimes called thoroughbred racing.
The biggest horse racing events in Australia are the Caulfield Cup, Cox Plate, Golden Slipper, and 'the race that stops a nation', the
Greyhounds are lean, fast running dogs that were traditionally used in hunting. In greyhound racing, the dogs race around the track, chasing a mechanical lure or rabbit. As with horse racing the distances of races vary, generally from 300m to 750m.
There are numerous prestigious greyhound races held in Australia. The biggest prizes are the Australian Cup at The Meadows in Melbourne and The Golden Easter Egg at Wentworth Park in Sydney.
Harness racing involves horses pulling drivers across a track in carriages known as sulkies. Harness racing uses standardbred horses, which smaller and tamer than thoroughbreds. The horses race in one of two gaits; pacing or trotting. These are both slower than thoroughbreds.
The major Australian harness racing events are the Hunter Cup and Victoria Cups in Melbourne, the Miracle Mile in Sydney and the Inter Dominion.
Types of wagers
There's a huge range of betting options you can take across all three codes.
Win - Also known as betting 'on the nose', Win betting is by far the most popular bet type. It is a bet made on a single horse to finish first.
Place - A place bet will pay if the horse comes first, second or third, as long as there is 8 or more runners in the race.
Each way - A combination of a win bet and a place bet. $5 each way means a $5 bet on a win, and a $5 bet on a place, making a total bet of $10.
Exacta - Betting on the first and second place winners, in the correct order.
Quinella - Betting on the first and second place winners, but in any order.
Trifecta - Betting on the first, second and third place winners, in the correct order.
Quaddie - The Quaddie involves you selecting the winner of four races as chosen by the TAB.
First 4 - Betting on a First 4 means you must select the correct finishing order of the first four horses or greyhounds across the post.
BIG6 - The BIG6 allows punters the chance to win 'lotto' type dividends. In order to win the BIG6 you must correctly select winners of six races as chosen by the TAB. The BIG6 has paid upwards of $2million in some cases.
Double - Doubles are a traditional type of bet where you are required to select the winners of two races. There are two types of Doubles - the Daily Double and Running Double. The Daily Double are two races determined by the TAB, whereas the Running Double can be taken on any two consecutive races you choose.
Flexi - Flexi Betting enables punters to include multiple selections in Trifectas, First 4's and the BIG6 for an outlay that suits them. Your percentage return is determined by how much you outlay in relation to the amount of runners you have selected.