Race Betting

 Regulation

In Australia, each jurisdiction regulates betting on approved horse, greyhound, and harness races. This is distinct from the regulation of the racing industry itself.

Types of Racing

Horse Racing

Horse racing is one of the oldest sports in the world, with records going back thousands of years. It has been popular in many ancient societies, including Babylon, Persia, Greece, and Rome, where betting on races was common. Over time, different styles of racing developed, which are still seen today. These include flat racing, jump racing (like hurdles or steeplechase), and harness racing, where horses pull small two-wheeled carts.

Thoroughbred racing has played a major role in Australian history. It was introduced by British settlers in the late 1700s and quickly became a popular social event for people from all backgrounds. By the 1800s, race clubs and organised race meetings helped make betting more structured. The Melbourne Cup, first run in 1861, became a huge cultural event and is often called “the race that stops a nation.”

Over time, betting on horse racing expanded beyond the track, first through bookmakers and later through online betting. Today, gambling is a core part of horse racing in Australia.

Greyhound Racing

Greyhounds have been valued for their speed for thousands of years and were used by ancient civilisations like the Egyptians and Romans for hunting. Racing became more organised in England from the 1500s, with official governing bodies set up in the 1800s.

In Australia, greyhound racing became popular in the 1930s with the creation of the first racing clubs. Today, it is tightly regulated by State and Territory governments. Greyhound racing is banned in the ACT and is set to be banned in Tasmania from 2029.

The industry has faced ongoing criticism, including concerns about animal welfare, training practices, and overbreeding. Despite this, greyhound racing still generates significant income through gambling.

Harness racing  

Harness racing has its roots in ancient chariot racing, which was popular in societies like Ancient Greece and Rome. Betting on these races was common even in early times. The modern version of the sport developed mainly in Europe and the United States, with Australia adopting the American style.

Often called “the trots,” harness racing has been part of Australian sport since early colonial times. The sport involves specially bred horses known as Standardbreds, which pull a two-wheeled cart called a sulky around a track.

There are two main types of harness races: trotting and pacing. In trotting races, horses move their legs in a diagonal pattern, while in pacing races they move the legs on the same side of the body together. Pacing races are usually faster and more common.

Harness racing is held in every state and territory except the Northern Territory. Some of the major events include the Inter Dominion Series, the Victoria Derby, the New South Wales Derby, and the Australian Derby. 

Gambling Regime

Fixed Odds v Pari - Mutuel Betting

Racing betting offers two main types of betting:

  • Fixed odds betting, where the odds and potential payout are locked in when you place the bet.

  • Pari-mutuel betting, where all bets go into a shared pool and winnings are paid out after the operator takes a commission. 

Types of Bets

These bets may take several forms including:

  • Win/Place bets: The simplest type, where you bet on who will win, or the top two or three getters.

  • Each-way bets: A combination of win and place bets, offering a payout if the horse either wins or places.

  • Exotic bets: More complex bets such as Exacta (picking the first two horses in order), Trifecta (first three in order), and Quinella (first two in any order).

  • Exotic multi bets: These bets involve predicting winners or place getters across different races examples include quadrellas or quaddies, picking winners across 4 different races, and doubles, picking winners across two races.