Everything You Need To Know About Online Betting For Melbourne Cup

November 1, 2010

Everything You Need To Know About Online Betting For Melbourne Cup

Races.com.au has put together a quick reference guide to online betting just in time for your Melbourne Cup bets! Here are the answers to some of the frequently asked questions from our readers.

Can I bet on online?
Yes! You can bet on horse racing, harness racing, greyhounds and almost every sport you know and love, both domestic and international. The most highly punted events in Australia are Horse Racing (85%) followed by sports including AFL, NRL, Rugby Union, Soccer, Tennis and Cricket.

How do I bet online?
It’s easy. There are several licensed and regulated bookmakers in Australia. We only promote legal, safe and secure bookmakers. Simply choose any one you see endorsed by our site.

Where do I bet online?
These are our preferred online bookmakers. They all offer odds better than the TAB and impressive sign up bonuses. You are welcome to visit each one and take advantage of the offer from one or all of the bookmakers.

Horse Racing Betting Offers

The best Australian online bookmakers, offering great bonuses and betting on Australian horse racing.

How do I bet on horses online?
Horse racing is the most wagered sport in the country. Every online bookmaker has horse racing betting.

What type of horse racing bets can I make online?
Online bookmakers have all of the same bet types as the TAB. From the standard win/place bets through to the exotics like: trifectas, exactas, quinellas and first four. In many cases online bookmakers will offer additional betting types as well as exciting bonus bets like “cash back” offers and refunds “if your horse runs 2nd to the favourite” etc.

How is betting online different to betting at the TAB?
The bet types are the same, the events are the same (often more online) but the biggest difference most people realise is that online bookmakers have better TAB Melbourne Cup odds than the TAB.

For those who love to bet on horse racing, all of our recommended bookmakers offer a product that pays better odds than the TAB. For example, Luxbet have a product called “Best of the Best” and Sportsbet have a “City Best Plus” product. When you bet online using these products you get paid the best (or better) dividends declared by the 3 totes (Unitab, Supertab, NSWtab) or the starting price (SP) whichever is higher.

Is online betting legal in Australia?
Betting with a licensed and regulated Australian bookmaker that we promote on our site is 100% legal, safe and secure. Sports and horse racing is a massive part of Australian culture, so online sports betting is completely legal under the Interactive Gambling Act (2001). It is also safe and secure. The bookmakers we promote use a minimum 128bit SSL encrypted security for all transactions and bets.

Are Online Betting Odds better than the local TAB?
The odds online are always better than the TAB with bookmakers like Sportsbet and Luxbet basically offering an “odds guarantee”. Luxbet offer “Best of the Best” and Sportsbet pay out on their “City Best Plus” product. When you back a horse on the tote prices, they basically take the highest price of the 3 big TABs and pay you that dividend, no matter what State you are in. But it gets better, often times they beat the best price or pay the “starting price” (SP) if that is higher again. Online bookmakers pay more because they are online in a competitive market.

What are the betting limits, how much can I bet online?
For your own protection, the bookmakers let the customer choose their own betting limits. The minimum bet at most bookmakers is $1 and if you are betting big, most will take the high roller bets with very big limits and great customer support.

I only want to place one bet, which betting agencies should I bet with?
The main difference between the online bookmakers is their betting interface but all will offer odds better than your local TAB. Just visit each one, sign up for free and have a look at the bet slip, offers, designs and colours. All the bookies we promote are legal and trustworthy so just bet with the one you like the best. If you are a new member, take advantage of the free betting / sign up incentives – there’s no better way to try out a new bookmaker than betting with free money!

When can I bet online?
This is one of the best features of online betting, sportsbooks online are open 24 hours a day, 7 days a week. There’s no need to leave the comfort of your home just to go down to the TAB. You can place bets online from your PC or Mac, iPad, laptop and most new mobile phones. Stay on the lounge and bet on the racing or sports!

How fast is it to place a bet online?
Once you visit a bookmaker from our site you could be betting in as little as 5 minutes.  It only takes a few minutes to fill in your details (be honest, it’s for your own protection) and if you are depositing money using a credit card, you can be betting in under 5 minutes. Once you’re all set up betting only takes seconds. This is critical if you are betting right before the jump, it’s no good being in a line at the TAB when the odds are coming in. Click, click and you’re off and racing.

What does ‘Futures Betting’ and ‘All In Betting’ mean?
Futures are odds offered on an racing event before the final field is even known, often referred to as “ante post betting”. Futures are usually “all in” bets, which means that even if you place a bet on a horse that does not make it to the race, you can lose your money. On the flip side, futures odds are usually well above the odds offered closer to the race so you can often get really great prices.

What does “Even Money” and “Odds-on” refer to?
Even money simply refers to odds that will pay out double your money, 2 to 1 or odds at $2. If a horse is referred to as being “odds-on” that means the odds are less than $2. Generally you will hear the term used like “odds-on favourite” meaning the favourite is paying short odds less than even money. If you bet $10 on a horse paying $1.70 you will win $17 total, your $10 stake + $7 profit.

How do I join an online betting site?
We only recommend the best online betting sites. Click on them, visit each one and check out their sign on incentives. Take note of any promotional codes you may need during the sign up process. Click the join button and then fill out the registration forms. At most bookmakers you will choose a username or be assigned a member number you will use to login with your password.

Can I get free bets online?
Yes! Our site is dedicated to finding the very best deals available to you. We have negotiated with every online betting agency to get you the maximum free bet when you join. Online bookmakers are vying for your business and they are willing to give you free bets just to try them out. Don’t be afraid to take advantage of each offer until you find the bookmaker that you love – or use them all if you bet fixed price odds.

How do I deposit funds into my account?
Deposit methods vary from bookie to bookie, but the easiest way by far is credit card. It is fast and you can be betting online within a few minutes.

How do I withdraw my winnings?
Most bookmakers will pay your winnings back to the same method you used to deposit. So if you put money in on a card, when you withdraw, they will move your funds on to the same card. Payments are made quickly and will be available in your own bank account within a few days.

What is this “ID verification” process?
In order to withdraw funds from your account, the bookmaker will need to verify your identity. Just like a bank, a phone company or any other company that handles your money or pays you; they need to know who you are. This not only protects you and your account, it is also part of the regulations. Bookmakers are forced to verify your identification before transferring money to you. You will also have to verify within 90 days of placing a bet. Make sure you use your correct details at all times. This is to protect you and ensure your deposits and winnings can only be accessed by you.

Are there any hidden fees and charges?
No. You can generally deposit and withdraw without any fees from the bookmakers. Check with your credit card provider, they may have separate fees.

Racing fields and data are copyright 2011-2018 © Racing Australia Pty Ltd (RA) (and other parties working with it).
Racing materials, including fields, form and results, is subject to copyright which is owned by RA and other parties working with it. Full copyright notice.

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