Think you’re good at picking horses? Or do you watch every game of footy and know each team back-to-front? Well, the truth is that this is only a part of what it takes to be a good punter and win long-term. You can know all there is to know about form and speed ratings, but the reality is, if you were to bet solely with the TAB you’re still going to lose money; and you’re going to lose money at a much faster rate than with any of the alternatives out there.
In fact, some people know little to nothing about horse form or which team should win, but find great bet after great bet simply because they understand odds and know how to make the most of good prices.
Looking at the opening game of the 2016 AFL competition we can see that Ubet is offering $3.80 for Carlton to win, while Bet365 has them at $4.25. As much as Carlton may be a long-shot, the punter who takes the $4.25 odds is receiving a 16% higher profit on the instances the upset comes in.
That may not sound like a lot to some people, but to put it in perspective – the biggest hedge funds in the world battle to beat the market and each other by just a few percentage points; professional punters battle to win at a rate of 1 or 2% profit long-term. If you could consistently find prices paying you 16% more, I guarantee you’ll be out-punting your know-it-all mates.
We all know that feeling; you pick the winner, cheer it down the home straight with your TAB ticket in hand; only to see the odds flash up, and learn that you’re being paid $3 while punters somewhere else in the country are being paid $3.70. In this example U-Bet punters are being paid out 23% more than S-TAB punters! In profit terms, that’s an extra 35%!
Most of the Australian Corporate bookmakers offer some type of ‘Best Tote’ product, where they actually pay the highest of the three totes. Over the years there have been many variations of this including ‘Best Tote + 1¢, ‘Best Tote+ 1%’, ‘Best Tote + 5%’, ‘Best of Four’ (includes SP – the official on course Starting Price) etc etc..
The tote product being offered varies greatly by brand, race type (thoroughbreds, greyhounds, harness) and depends on the prominence of the race. Many bookmakers will offer highly attractive promotional payouts on the major carnival races. We encourage you to where ever possible, bet with the bookie that is offering the best value.