It is important to understand the available bet types offered by each of Australia’s online bookmakers, the bet types they offer is the big differential between the good and not so good bookies. Choosing the right bet type can make a huge difference to your winning return. The dividend paid by each bet type varies and can have significant effect on your profit. Whilst, the betting products are most relevant for betting on horse racing, they also apply to general sports betting.
The examples below highlight the potential difference in profit to be maade just by selecting the best betting product. See our individual betting products pages for more examples and detailed explanations of all bet types.
RACING – BEST OF THE BEST EXAMPLE
The example shows how the BOB (Best of the Best) price compares with the prices of other betting products on the result of the 2011 Melbourne Cup. It highlights the importance of selecting the right product, a $100 wager placed on the winner Dunaden using the Vic TAB would have returned $810 versus $990 using BOB, a difference of $180.
BETFAIR vs BOOKIE MARGIN EXAMPLE
The example shows the difference in odds offered by a betting exchange e.g. Betfair as opposed to a bookmaker on a fictional even – money event. The bookie has to allow for a margin to make a profit, whereas the exchange merely puts punter against punter with no allowance for margin, hence the odds are generally always better.
TOURNAMENT BETTING EXAMPLE – Sharapova’s price before the Australian Open tournament
Sharapova’s price before the tourament started was a generous $44. A succesful $100 bet will return $4,400.
SHARAPOVA’S PRICE PRIOR TO WOMENS FINAL
Having made it through to the final, we are now in a position to ‘LAY’ off our bet and guarantee a profit. We will LAY Sharapova at $2.32 to win $1300 effectively costing (2.32 x 1300 = $3,016).
We have successfully guaranteed a profit before the final. If Sharapova wins we will collect $1,384 and if she loses we will collect $1,300. You do not need to wait until the event finishes in order to make a profit.