There are many approaches that Australian punters take to achieve the
best betting odds. A popular recent approach is the use of odds comparison tools
where various odds are displayed for each horse in the race from a selection
of bookmakers. Before engaging with an odds comparison tool, punters should
understand the costs and effort involved in achieving a price differential through
these means and should also contemplate if an opportunity for improving on the
odds that they would otherwise achieve through the new advanced betting types
offered by Australian bookmakers, actually exists at all.
The good news for punters is that Australian bookmakers have introduced a range
of betting odds products for Australian horse races that take a lot of time
and effort out of searching for the best price and trying to guess whether the
various state TABs will finish at a higher price than the current fixed odds
being offered. These betting products also provide insurance against any potential
downside that exists with Fixed Odds products, the betting type used by odds
comparison tools, while allowing the punter to capture any benefit from upwards
price movements. A list of betting types available through Australian Bookmakers
are outlined below. The alternative that punters have instead of using these price types is
to set up their own lab at home with multiple screens analysing pricing trends
across multiple bookmakers to get the best odds. The betting types detailed
here save a lot of the punters time to get the same outcome or close to it and
in some cases, an even better price.
Betting for the Win
The simplest and most readily used betting odds type where a price is displayed
for each horse in a race. If the punter clicks the price for a horse and bets
before it changes, that price is guarenteed to the punter if the horse wins.
|Punters taking fixed odds protect themselves against downward price movements
after they have placed their bet.
||Punters do not get the advantage of upward price movements after they
have placed their bets.
Best Tote or SP
Best Tote is the highest odds amongst the three main totalizator providers
in Australia. Totalizator or Tote prices differ in their nature to Fixed Odds
in that they are never locked in until the race starts. A punter taking a Tote
price will rarely receive the odds shown when the bet is placed. Although the
Tote prices can no longer be influenced after the barriers open for the start of the race, there are typically
a significant amount of bets placed in the last minute before they jump and
therefore prices for a horse can be seen changing mid race as computer algorithms
complete the final calculations to arrive at the Tote prices for each horse
in the race.
SP or Start Price is the official price offered by bookmakers for a horse at
the start of a race. The Best Tote or SP odds are therefore providing the best
of four prices available in the market.
Punters receive any upward swings in price for the horse they backed.
Punters receive a significant advantage compared to punters that take
a Tote price with one of the three totalizator agencies. The spread between
the highest and lowest Tote price and the SP odds for a winning horse
is often quite sizable highlighting the value in this betting type.
|Horses that continue to be popular after the bet is placed drive the odds
lower than that which attracted the punter in the first place. As 30-40%
of the market place their bet in the last five minutes before a race, this
can result in signficantly lower prices for horses that are deemed to have
a better chance of winning than their early price quotes.
Fixed Odds prices fluctuate from the time that they are first posted until the barriers
open at the start of the race. The Australian Pricing Network (APN) provide
the key fluctations for each horse racing on a race program. The highest fluctuating
price is known as the Top Fluc price.
Punters can take advantage of the higher prices that horses may blow
out to after they have placed a bet.
Reduces any effort from the punter to try and achieve the highest price.
|APN prices are not necessarily the highest odds available from Australian
bookmakers. They are more of a guide for the bookmakers to indicate where
the market opens and changes over time. Bookmakers may offer better prices
than the APN price if they plan to take a particular horse on or alternatively
offer lower prices if they feel the horse is over its true price, the odds
that represent its actual chances of winning the race.
Best of the Best (BOB)
This price is, as titled, the best price of all the prices available. Usually
it is only available on Saturday metropolitan race meetings up to 35 minutes
before the race. This price is the highest price amongst the three main Australian
Totes and the Top Fluc price. Bookmaker's usually limit bet sizes for this price
type to $250.
Gives punters odds that are likely to be in the top 5% of prices available
across all Australian bookmakers for a particular horse without having
to commit any effort towards searching across all Fixed Odds markets.
Provides punters with insurance on prices coming in or blowing out after
the bet is placed via the Top Fluc component of the bet type.
|Requires punters to invest outside of 35 minutes before the race. As 50-60%
of the market bets within the final 35 minutes before a race, punters are
potentially missing out on market movements which can provide a valuable
indication of a horse's chance of winning the race.
Betting for the Place
This betting type is identical to Fixed Odds for the win however the price
is paid if the horse finishes a place. For fields of eight horses or more this
includes the first three horses. Where there is between five and seven runners
in a race there is no third dividend paid for a place. If there are less than
five horses in the field, then the place dividend is not offered by Australian
Offers the highest price offered between the three main Australian totes.