BETTING WITH BOOKMAKERS |
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IT'S EASY The colourful competition between Bookmaker and punter is an atmosphere
unique to a racecourse and one that should be experienced. Some newcomers are hesitant to place a bet with Bookmakers at a racecourse, believing they are only there for the big punters. This is far from the truth. You don't have to be a big punter to place a bet with a Bookmaker. Bookmakers are also happy to answer any of your enquiries regarding
odds (dividends). All you have to do is ask. In December 2000, Victoria's Race Bookmakers led the way in the world of betting by modernising the outdated imperial odds betting system. The only State in Australia where Bookmakers (Thoroughbred, Harness and Greyhound at Metropolitan and Country tracks) all converted to Fixed Dollar Dividend displays simultaneously from 1 December. The move has been seen by Bookmakers, Government and the Racing Industry as tremendously innovative and successful. Some established punters reluctant to accept the change now clearly recognise it as essential whilst the casual recreational punter who had experienced difficulty with 13/8 or 8/11 odds now easily manage the fixed dollar dividend system. Consequently, more discerning punters are switching to Bookmaker betting either on course or over the telephone system and betting turnover with Victoria's Race Bookmakers has increased by 95% since the year 2000.
In a horse race, while all horses have a chance, not all horses are considered as being equally likely to win - that's what makes betting on the races so exciting. Bookmakers give their assessment of a horse's chance in a race by putting up their betting market or dividends display. It is to the punter's advantage to have an idea of what is a good price about their selection and to place their wager with the Bookmaker with the best dividend on offer. Unlike some other forms of betting, placing a bet with a Bookmaker guarantees a fixed dividend return. A Bookmaker's betting board displays the dividend that Bookmaker is offering for a horse in that particular race. For example, a "5" beside a horse's name on a Bookmaker's board means they are offering a price (dividend) of five dollars for that horse to win (odds of 4 to 1). For example, if you bet $1 on that horse and it wins, you will receive $5 when you return your betting ticket to the Bookmaker, representing a figure of the $1 you placed on the horse and the $4 you won from the Bookmaker. KNOW WHAT YOU'LL GET, WHEN YOU BET When you bet with a Bookmaker on-course you know what you are getting.
You are not betting "blind". TYPES OF BETTING Win Only A "Win Only" Bookmaker will accept bets only on horses picked to come first. So, if you bet $1 on Phar Lap at $9 (odds of 8 to 1) your investment is $1 and if he wins you collect $9 from the Bookmaker, which consists of the $1 you invested plus the $8 you have won. Win and Place or Each Way An "Each Way" (Win and Place) Bookmaker accepts "Win Only" or "Each-Way" (Win and Place) bets. If you bet $1 each way on Phar Lap at $9 (odds of 8 to 1) your
investment is $2 ($1 for a win, $1 for a place). If Phar Lap runs second or third you lose your win bet of $1 but collect your place bet of $1 for a total collect of $3. Where there are less than eight runners in a race, the Bookmaker pays out only on first and second but the place odds are calculated at one third of the win odds. Place Only A "Place Only" Bookmaker accepts bets on horses picked
to run first, second or third. This is easier than picking the winner
and the dividends offered by the Bookmaker although sometimes unrelated
to the win dividend are usually accessed at approximately one quarter
of the win odds. Concession A "Concession" bookmaker accepts bets on horses to come first, and will return your wager in full if your horse runs second or third. However, if there are less than 8 runners in the race but more than 2 runners, your wager will be returned if your horse runs second. For example, the Concession price for Makybe Diva in a field of ten horses is $4.40. A $10 Concession wager will return $44 if it wins, and money back ($10) if it runs 2nd or 3rd. Compare this to a Win Only bet at the corresponding Win Only price of $6. A $10 Win Only wager will return $60, but the punter loses his money if it runs 2nd or 3rd. Concession punters are happy to take a slightly reduced price in order to receive all their stake back if their horse runs a minor placing. There is a mathematical relationship between the Each Way price and Concession price. For example, the Each Way price of $5 corresponds to the Concession price of $3.50, and the Each Way price of $9 corresponds to the Concession price of $7. Bookmaker TopFluc has produced a Price Conversion Chart which you can download from www.topfluc.com.au
Raceday Doubles A "Doubles" Bookmaker displays odds for all runners in each race at a meeting. To make a double bet you need to select horses to win any two races. If Phar Lap is in Race 1 at a price of $9 and Tulloch is in Race 3 at $6 and you back them both to win in a double, your dividend if they both win will be $54. This represents the $1 for both horses to win with the dividends displayed then multiplied 9 x 6 which is 54. If Phar Lap and Tulloch both win, you will collect $54 from the Bookmaker representing your $1 plus the $53 you have won. Interstate Betting Punters can bet on Interstate races in a special ring on the course.
Bookmakers betting on Interstate events give the punter exactly
the same service as Bookmakers betting on local events. Multi-Venue, Multi-Mode Many Bookmakers in both the Local and Interstate rings also give a multi-venue, multi-mode betting service. That is although they only display dividends for selected venues and bet types they also offer prices on request for other venues and other bet types. These Bookmakers are shown in the race book with the notation (M/V) and often display on their betting board a multi-venue sign. Feature Doubles Betting on feature doubles is a big attraction for punters, both
on course and off course. Often punters bet early (days, weeks, even months before the events) when the final field is not yet known. Because the gamble is greater in this form of betting the prices offered are usually much greater than on the day of the event. Often this is an attraction for the shop early punter looking for a big return for a small outlay. Betting on feature doubles is on an "all-in" basis, that is if one or both the selected horses do not run the punter's bet is lost. Sport There are many ways to bet on sporting events with Victoria's sports Bookmakers. Almost all sports are covered with traditional bet types win only, each way, head to head, and multiple (selecting a number of outcomes to occur) betting among the popular options. Victoria's Sports Bookmakers offer a 24/7 telephone and internet betting service. Ways To Bet - Win Only UNIQUE EXCITING AND ACCESSIBLE GOOD PUNTING ……..
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