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Single race bet types - How to bet on racing events

WIN: Simply pick the runner that you think will finish first in a race.

 

PLACE: Pick a runner in a race and if your runner finishes first, second or third you will collect your place dividend. (A third place dividend is only paid in races with eight or more runners)

 

EACH WAY: An Each Way bet combines the Win and Place bets. If your runner wins, you will collect both a Win and Place dividend or if your runner finishes second or third you will collect the Place dividend only.

 

QUINELLA: A Quinella requires you to correctly select the two runners that will finish first and second in a race, in any order. There are different types of Quinellas– Straight and Standout

 

EXACTA: An Exacta requires you to correctly select the two runners that finish first and second in a race, in the exact order. There are different types of Exactas– Straight, Standout, Box or Roving Banker.

 

DUET: A Duet requires you to correctly select two of the three placegetters, in any order. The Duet will pay three dividends for the following combinations: first and second, first and third, and second and third.

 

TRIFECTA: A Trifecta requires you to select the runners that will finish first, second and third in a race. There are different types of Trifectas– Straight, Standout, Box or Roving Banker.

 

FIRST 4: The First 4 requires you to select the first, second, third and fourth runners in a race, in the correct finishing order. Like Trifecta, First 4 can be Straight, Standout, Box or Roving Banker

 

Multi race options

DOUBLES: A Daily Double requires you to pick the winners of two races at the same race meeting. A Running Double requires you to pick the winners of any two consecutive races at the same race meeting.

 

QUADDIE: A Quaddie requires you to pick four winners from four races . You need to nominate at least one selection in all four legs.

 

BIG6: The BIG6 requires you to pick six winners from six races . You need to nominate at least one selection in all six legs.

 

Parlay Formula: A Parlay Formula is a bet which involves parlaying your winnings from one race into one or more other races. To parlay means to create a single bet that links together two or more individual bets and is dependent on all of those bets winning together. You can have a Parlay formula on a minimum of two and up to a maximum of six races, and you can place a combination of Win, Place, Win & Place or Quinella bets. You can expand your options by parlaying your bets over 2, 3, 4, 5 or 6 races using a Formula Number, which means you do not have to be successful in every leg to be a winner.

Note: Minimum Investment of $0.50 (50 cents), your Bet Percentage must be 1.00% or greater.

 

Glossary of betting terms

What is a Boxed bet? Available on Quinella, Exacta, Trifecta and First 4. When you "box" the runners in your bet, you cover all possible combinations for the finishing order.

 

What is a Standout? Available on Quinella, Exacta, Trifecta and First 4. A Standout is a single runner you pick to come in First place, and any of the other runners you select can fill the other places in any order.

 

What is a Multiple bet? Available on Quinella, Exacta, Duet, Doubles, Trifecta, First 4 and Quaddie. A multiple bet is where you pick more than one runner in each leg of the bet.

 

What is a Roving Banker? Available on Exacta, Duet, Trifecta and First 4. Select a runner as your "Roving Banker", and then select other runners to fill the remaining places. The Roving Banker must finish in a place and any of your other selected runners must fill the remaining places in any order.

 

What is Flexi betting? Available on Quinella, Exacta, Doubles, Trifecta, First 4, Quaddie and BIG6. Flexi betting allows you to nominate the total amount you would like to spend on your bet, so you can include as many selections as you like at an outlay that suits your budget. If your bet is successful, you will collect a percentage of the full dividend.

 

Fixed Odds v Parimutuel:

Parimutuel betting means you are betting into a pool with everyone else who is betting on the same bet type as you. The odds displayed for each selection prior to the race are approximate dividends and may change. When the race is over, the pool is divided among the winners. If a lot of people have chosen the winner, the pool is divided among more people. But if a long shot wins, you will receive a higher dividend because the same pool is divided among fewer people.

 

Fixed Odds bets mean that the odds are fixed at the price displayed when you place your bet. Fixed Odds Racing bets are only available on Win and Place bets.

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