![]() In the early 1960s, government-owned Totalisator Agency Board (shortened to TAB) organisations became the chief proprietors of sports betting in Australia, permitting wagers to be placed on an array of sporting events, such as horse racing, harness racing, greyhound racing, motor racing, Australian Rules Football, rugby, cricket, soccer, tennis, basketball and more. It was then introduced for the 1931 Melbourne Cup. It was first introduced in Australia at the Ellerslie Racecourse in Auckland, New Zealand in 1913. The manual totalisator system forced delays in calculations of payouts and so in the early 1900s, the mechanical/automated totalisator was developed. The constantly updated odds attached to this type of wagering would be displayed on large manual totalisators (commonly referred to as tote boards), typically at race tracks inside large buildings. Unlike fixed betting, where the punter knows exactly what the odds are for the event that is being bet on, parimutuel betting calculates the approximate odds (based on the wagers received), and such odds can change after one has placed his or her bet, up until no more bets are accepted. ![]() Parimutuel betting was first introduced around the 1860s, where the total amount wagered on specific racing events would be calculated (the pool) to work out the payout odds, and then the pool would be distributed respectively among the winning bets (with a certain operating percentage removed, so the operators of the system could never lose money). It quickly expanded into a public and much larger industry, thereafter. Sports and horse racing wagering began as a small business through independent bookmakers taking bets and offering fixed odds. Sports betting bookmakers and totalisators in Australia Since then, Australia has become renowned for its betting culture, and in 2007, between 70 and 80 per cent of the adult population participated in some form of gambling – the highest rate of gambling in the world. One of Australia’s favourite pastimes, sports betting has entrenched itself in our culture, with a history dating back to the early 1800s, when horse racing was in its infancy Down Under. Welcome to – home to all the sports and racing betting information you can get your hands on, for Australian punters across the land.
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