TAB Bet Types and What They Mean

Do you know what it means if you’re betting Each Way? How about if you’re betting on the Exacta? If you’re not sure about these terms and all the other betting terms at the TAB, than this post is for you.

The very best way to get your head around these betting types is to visit your local TAB and place a bet. Before you do that though, take a look at what the betting type mean:

WIN
According to the TAB, this is the most popular type of bet people make. You simply pick your favourite that will win the event.

PLACE
In Place, you have a better chance to win than in Win. Here you pick a runner in a race and if that runner finishes either first, second or third, you will collect your winnings. The TAB only offers third place winnings in races with eight or more runners.

EACH WAY
Ok, so now you know Win and Place. Each way just combines these two together. So if your running wins you will be paid for both Win and Place, or if your runner finishes second or third, you will collect your money for Place only

QUINELLA
Get this type of bet right and you could be taking home a nice sum of money. To win this type of bet you have to correctly select the two runners that finish first and second in a race. Good news is that it can be in any order.

EXACTA
A much harder one to get right, but of course if you do – you get a lot more cash! In an Exacta you need to correctly get the two runners that finish first and second in a race, in the order that you selected.

DUET
This one is a fun one. What you have to do here is correctly get 2 of the 3 place-getters in any order. Unfortunately it’s only available on races that have eight or more runners(lowing the chances you’ll get it right!) – The Duet will pay three dividends for the following combinations: first and second, first and third and second and third.

TRIFECTA
You’ll need to get this one perfect to take away some money. You have to select the runners that will finish first, second and third in the correct finishing order! A popular bet during the Melbourne Cup

FIRST 4
Here you are required to select the first, second, third and fourth place-getters in that correct finishing order. Have you experienced any lucky with this type of betting? If so, let me know in the comments section below.

DAILY DOUBLE
You’re not likely to find this type of betting, in the following way at any other sports agency. The Daily Double requires you to correctly pick the winners of two TAB nominated races.

Daily Doubles for each race meeting are marked in the “Exotic Bet Info” column on Today’s and Tomorrow’s Racing Schedules on tab.com.au. Daily Double legs are marked as D-D.

RUNNING DOUBLE
If you’re the type to have winning streaks than you might want to put some money on this type of betting. If you correctly select the winners of any two consecutive races at the one race meeting – you win some money.
For example, if you pick the correct result in race 4 and 5

QUADDIE
A Quaddie requires you to pick four winners from four races nominated by TAB at the one meeting. Quaddie legs for each race meeting are marked in the “Exotic Bet Info” column on Today’s and Tomorrow’s Racing Schedules on tab.com.au. The Quaddie legs are marked as QAD.

BIG6
The name sounds like this is one could be fun. Names can be deceiving! What might sound like fun will quickly turn to “oh god this is so annoying” type attitudes – why? It’s so damn hard to win – but like the nature of the game, the harder it is, the more money that can be potentially won.

A BIG6 requires you to pick six winners from six races nominated by TAB. The races that make up a BIG6 may be at the same race meeting or at different race meetings. There is at least one BIG6 available every week.

Available BIG6s are indicated in the “Exotic Bet Info” column on Today’s and Tomorrow’s Racing Schedules on tab.com.au.

ALL UP
A more complex bet which involves parlaying your winnings from one race into one or more other races. To parlay means to create a single bet that links together two or more individual bets and is dependent on all of those bets winning together.

All Up bets parlay (i.e reinvest) dividends across ALL races. To obtain a payout ALL races must be successful.

PARLAYFORMULA
A more complex bet which involves parlaying your winnings from one race into one or more other races. To parlay means to create a single bet that links together two or more individual bets and is dependent on all of those bets winning together.

You can have a Parlayformula on a minimum of two and up to a maximum of six races, and you can place a combination of Win, Place, Win & Place or Quinella bets. You can expand your options by parlaying your bets over 2, 3, 4, 5 or 6 races using a Formula Number, which means you don’t have to be successful in every leg to be a winner.

For example, if you take a Formula 3 bet over 4 races, the TAB computer will automatically generate all possible combinations of 3 races with this bet. To collect a dividend you must be successful in at least 3 of your 4 selected races.

MYSTERY BET
For the really lazy of us out there, this one is your favourite! Mystery Bets are available on the next race to run, and on the feature race of the day. Mystery Bets are computer generated selections and are available in a:

– $1 Single Trifecta
– $2 Single Quinella
– $3 Box Trifecta (50 cent investment)
– $3 3-Up (Win, Exacta and Trifecta in the one bet).

And there you have it. That’s all the betting types that TAB offer. What betting types do you usually go for? Most often then not, I just go for the Each Way bet.

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