TAB Tote Win and Place Bet
Betting on the TAB Tote means you are betting into a pool with everyone else who is betting on the same race and bet type as you.
The odds displayed for each runner are approximate dividends and may change.
When the race is over, the TAB takes a fixed commission out of the pool (ranging from 14.25% to 25% depending on the bet type) and then all of the remaining funds are divided among the winners. That's why sometimes you get a little, and sometimes you get more. If a lot of people have chosen the same runner, the pool is divided among more people. But if a longshot wins, you will receive a higher dividend because the same pool is divided among fewer people.
Tote betting is also referred to as parimutuel betting.
The TAB racing betting pages now list TAB Tote Approximates and TAB Fixed Odds (where available) side by side.
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