It is possible to make a full time income from punting but it will take dedication and hard work. You will need to be able to develop and refine good strategies, and this will include a good money management plan that you are committed to following.

There are profitable full time and part time punters using different platforms such as Betfair and Ladbrokes but this does not mean everyone can be successful. Sticking to your strategies and planning without wavering off course is a must.

The best way to get started is by reading and watching videos about racing, select one code to follow and one state. Limit your work load and paper trade at first. Find one that suits your punting style and personality. RaceBiz recommends reading the articles on our website and supplementing this with information about handicapping. To complement this, we recommend becoming a member and using the team’s selections to guide you. Our aim is to ensure that you, the punter, fully understand the pros and cons of punting.

Start with paper trading or a small percentage of your trading account (about 1%) and as your confidence develops you can scale up. Expect lots of trial and error and some ups and downs on your way to a successful strategy.

Don’t forget, we are always here to help and you can email or call whenever you need a hand.

You can start with as much or as little as you can afford. The important point here is never bet what you can’t afford to lose. For example, some people start with $500 and trade with 1% of their bank ($5) as a stake per race.

If you have no experience with punting, then RaceBiz would recommend starting off with paper trades. This will help you to determine whether or not you have a good strategy before risking your real money. If you are planning to trade with real money, then bankroll/risk management is essential to success. Not only does it help you to manage the losing streaks but it will also minimise the mistakes.

RaceBiz uses risk management and finds successful strategies for its clients. Contact us for help with this.

To win a Quinella, you must select first and second in any order.

A Quinella bet is available on every race provided there are at least three (3) or more runners.

With a Quinella you can specify the Maximum Spend you wish to make. The Spend per ticket must be in multiples of a $1. Dividends are calculated and declared on a $1 basis.

Keep a look out for Quinella jackpots. If there are no winning units on a Quinella, the pool jackpots to another meeting at a future date. The jackpot pool is always carried over to a meeting of the same code of racing. Please note that partial jackpots occur when the total winning investment is less than $1.

There are three ways to take a Quinella bet:

Standard

For a Standard Quinella, choose the first two placegetters past the post, in any order. As long as your two selections finish first and second, you collect the Quinella dividend.

Box

With a Box Quinella you can choose as many runners as you like, providing two of your selections finish first and second, in any order. The more runners you ‘Box’ in a Quinella the more combinations you get and a better chance of winning.

Banker

If you feel there’s a ‘sure thing’ in a race that looks certain to win or at worst run second, then a Banker Quinella is a perfect type of bet. Your ‘Banker’ would be the ‘sure thing’ and you can group it with any number of other runners in that race. Providing your ‘Banker’ runs first or second and any one of your other selections finishes first or second with your ‘Banker’, you win the Quinella. The more ‘other’ selections you take; the more chance you have of getting the combination.

To win a Trifecta you must select first, second and third in correct order.

A Trifecta bet is available on every race at every meeting provided there are at least

Keep a look out for Trifecta jackpots. If there are no winning units on a Trifecta, the pool jackpots to another meeting at a future date. The jackpot pool is always carried over to a meeting of the same code of racing. Please note that partial jackpots occur when the total of winning investments is less than 100%.

There are five ways to take a Trifecta bet:

Standard

For a Standard Trifecta you have to select first, second and third in the correct finishing order. This gives you just one combination to win.

Box

A Box Trifecta increases your chance to win a Trifecta. By ‘boxing’ your selections you cover all the possible combinations involving those runners. For example, three (3) runners boxed will cover all six (6) possible combinations. You can box as many runners as you like.

Multiple

A Multiple Trifecta allows you take as many runners as you like for each placing. For example, you can take three (3) runners for first, five (5) runners for second and twelve (12) runners for third. Providing one of your runners selected for first runs first, one of your runners selected for second runs second and one of your runners selected for third runs third then you win the Trifecta.

Banker

If you feel there is a ‘sure thing’ to win a race, then a Banker Trifecta might be for you. You could make your ‘sure thing’ a Banker and couple it with two (2) or more runners to finish second and third. Your Banker has to win the race and your selections for second and third must finish second and third to win the Trifecta.

Roving Banker

If you have a ‘sure placegetter’, you can take it as a Roving Banker Trifecta with two or more other runners. Providing your Roving Banker selection runs a place and your ‘other’ selections fill the other placing’s then you win the Trifecta. Likewise, if you have two (2) ‘sure placegetters’, you can take those two as a Double Roving Trifecta with one or more other runners. Providing your two (2) Double Roving selections run two of the placing’s and one of your other selections fills the remaining placing, you win the Trifecta.

Multiple, Banker and Roving Banker or Roving Bankers means you can cover more combinations for less outlay.

To win a First4, you must select first, second, third and fourth in correct order.

First4 betting is available on the majority of Australian meetings and selected Overseas races.

Keep a look out for First4 jackpots. If there are no winning units on a First4, the pool jackpots to another meeting at a future date. The jackpot pool is always carried over to a meeting of the same code of racing. Please note that partial jackpots occur when the total of winning investments is less than 100%.

There are five ways to take a First4 bet:

Standard

You choose the first four (4) placegetters past the post in the order you think they will finish. If your four selections finish in the correct order, you win the dividend.

Box

With a box First4 you can select as many runners as you like. Providing that four of your selections finish first, second, third and fourth you win the dividend.

Multiple

With a Multiple First4, any number of selections can be taken for first, second, third and fourth. Providing the selections that you nominate for each placing actually finish in that placing, then you will win the dividend. For example, you might select two (2) runners for first, four (4) runners to fill second placing, six (6) runners to fill third and eight (8) runners to finish fourth.

Banker

If you think there’s a ‘sure thing’ to win the First4 race, then a Banker First4 is ideal for you. The ‘Banker’ would be the ‘sure thing’ and you could couple it with three (3) or more other runners to fill the second, third and fourth placing. Your ‘Banker’ must win the race and your other selections must finish second, third and fourth for you to win the dividend.

Roving Banker

If you have a ‘sure thing’ to finish in the first four placings you can take it as a Roving Banker First4 with three or more other runners. Providing your Roving Banker selection runs first, second, third or fourth and your ‘other’ selections fill the other placings, you win the First4. Likewise, if you have two (2) ‘sure things’, you can take those two as a Double Roving First4 with two or more other runners. Providing your two (2) Double Roving selections run two of the first four placings and your other selections fill the remaining two placings, you win the First4.

To win an Exacta, you must select first and second in the correct order.

Keep a look out for Exacta jackpots. If there are no winning units on a Exacta, the pool jackpots to another meeting at a future date. The jackpot pool is always carried over to a meeting of the same code of racing. Please note that partial jackpots occur when the total winning investment is less than $1.

There are four ways to take an Exacta bet:

Standard

For a Standard Exacta, just choose the first two placegetters past the post, in correct order. As long you select the two runners that finish first and second in the correct order, you will collect the Exacta dividend.

Box

With a Box Exacta you can choose as many runners as you like, providing two of your selections finish first and second you win the Exacta. The more runners you ‘Box’ in an exacta the more combinations you get.

Banker

If you feel, there’s a ‘sure thing’ in a race that looks certain to win then a Banker Exacta is your type of bet. Your ‘Banker’ would be the ‘sure thing’ and you can group it with any number of other runners in that race. Providing your ‘Banker’ runs first and any one of your other selections finishes second with your ‘Banker’, you win the Exacta. The more ‘other’ selections you take the more combinations you get. 

Multiple

A Multiple Exacta allows you take as many runners as you like for each placing. For example, you can take four (4) runners for first and three (3) runners for second. Providing one of your runners selected for first runs first, one of your runners selected for second runs second, then you win the Exacta.

To win a Double, you must select the winner of each of two nominated races.

For most race meetings there will be two separate Doubles or Race to Race Doubles:

• The standard Doubleis usually held on the two main races at the meeting
• The Extra Doubleis held on two other races at the same meeting

Keep a look out for Double jackpots. If there are no winning units on a Double, the pool jackpots to another meeting at a future date. The jackpot pool is always carried over to a meeting of the same code of racing.

You can take as many runners as you like in each race or ‘leg’ of the Double. The more runners you select to win each ‘leg’ the more combinations you get.

If one of your selections is declared a ‘non-runner’ or is scratched after you have placed your bet, the money invested on that runner will be transferred to the runner that is the Tote favourite.  If you already have the Tote favourite then your money will go on the Sub Favourite (or second favourite).

To win a Treble, you must select the winner of each of three nominated races.

Keep a look out for Treble jackpots. If there are no winning units on a Treble, the pool jackpots to another meeting at a future date. The jackpot pool is always carried over to a meeting of the same code of racing. Please note that partial jackpots occur when the total winning investment is less than 100%.

You can take as many runners as you like in each race or ‘leg’ of the Treble. The more runners you select to win each ‘leg’ the more combinations you get.

If one of your selections is declared a ‘non-runner’ or is scratched after you have placed your bet, the money invested on that runner will be transferred to the runner that is the Tote favourite.  If you already have the Tote favourite then your money will go on the Sub Favourite (or second favourite).

This bet type is similar to Doubles, Trebles and Quadrellas, however gives the flexibility for you to select your own races and whether the runner will Win or run a Place.

Up to four races can be selected from the one meeting; enter the race numbers, the selections and whether the runner is to Win or Place.

Behind the scenes, Tatts Bet will put your Win/Place bet on the first race, and your winnings from that race become your investment on the second race, and so on for each of the selections. The Bets do not need to be in consecutive races. The first Bet maybe race1 the second maybe race5 the last one maybe race 9.

Naturally if your selections do not create a dividend for you, your All-Up bet will stop.

The minimum initial investment is $1 and must be in whole dollars.

If your selection is declared a non-runner or is scratched after you have placed your bet your refund on that selection will be treated as a dividend of $1 and carry forward to your next selection.

Fixed Price allows you to take a Fixed Price bet on selected races. Being Fixed Price means the dividend to be paid is set at the time of purchase rather than when the results are entered.

Fixed price bets are all in. This means that if your selection is not declared in the final field your bet is NOT refunded.  The only exception is where a Scratching occurs after the Final Field is published.

Fractional betting is available with the following (Tote) bet types:

• Quinella
• Exacta
• Any2
• Double and Extra Double
• Treble
• Trifecta
• First4
• Quadrella

Fractional betting allows you to decide the maximum amount you want to spend on your bet and the computer calculates the actual cost of the bet and what fraction or multiple of the dividend you will receive for a winning bet.

You don’t need to know how to calculate the cost of a ticket, all you need to know is the maximum amount you want to spend. There is a minimum spend of $3, although a $1 minimum still applies where a single combination is selected.

For example:
If you want to make five selections in a boxed Trifecta, the total cost for 100% of the dividend is $60 for a $1 unit on each possible combination.

With Fractional betting you can choose the maximum amount you wish to spend. The percentage allocated to each combination is automatically calculated.

1. If you nominate a maximum spend at the minimum $3 outlay, this would represent 3/60 or 5% of the $60 full unit cost. If the selected combinations include a successful one, the $3 spend will give you 5% of the dividend. If the dividend is $1,000 then a 5% share would equate to a $50 return for your $3 outlay.
2. If you nominate a maximum spend of $18, this would represent 10/60 or 30% of the $60 full unit cost. If the selected combinations include a successful one, the $18 spend will give you 30% of the dividend. If the dividend is $1,000 then a 30% share would equate to a $300 return for your $18 outlay.

Where the whole percentage bet costs slightly less than the maximum amount nominated, the difference is refunded.