Make Spring Look Easy


Returning for Spring Carnival and feeling a tad confused with all the markets being offered? Not to worry, we have your back. To give you a hand, we've put together a 'cheat sheet' for everything from our racing basics to the more experienced exotic markets. 

Sportsbet is excited to offer customers two great new products just in time for the spring carnival. 

Jockey Watch provides a unique navigational experience that allows Sportsbet customers to view their favourite jockeys’ rides all in one place. With the ability to pin jockeys to the top, Racing Multi’s just got even quicker & easier!

Racing Cash Out Racing Cash Out puts the customer in control of their bet by giving them the flexibility to obtain a return from their bet early! 

Basic Racing Guide  

How do I place bets? 

Lets start you off at the beginning, wondering how to place a bet? First of all, ensure that your account is verified.

You will then be required to deposit funds into your account before you begin betting.

The below steps will outline how to place singles bets.

  • Browse the racing or sporting markets until you find a selection you like.
  • Click on the price and your selection will be added to your bet slip

  • Once added to your bet slip, you will be required to input a stake amount (a monetary value you wish to place on the bet) and your potential winnings will be displayed.

  • Once you have checked over and are happy with your selection and price, simply click confirm

What are the fixed odds bet types offered by Sportsbet? 

Some basic racing bet types are win, place and each way. 

  • Win Bet – A Win bet is placed on a horse or dog to finish the race in first position.
  • Place Bet – A Place Bet is placed on a horse or dog to finish the race in:
    The first, second or third position, if there are 8 runners or more in the race;
    If there is less than 7 runners a place bet will be on first and second place;
    If there are fewer than 5 runners there will be no place bet offered.
  • Each Way BetAn Each Way Bet is a combined Win and Place bet. Half of the stake will be placed on the win and half of the stake will be placed on the Place.
    For example, a $1 Each Way bet = $1 on the Win and $1 on the Place for a total stake of $2.

What are the different odds offered by Sportsbet?

When placing racing bets on Sportsbet, you will see an array of betting odds available. To simplify these odds, below is a breakdown on each type: 

  • Fixed OddsFixed Odds are Sportsbet's Odds on a specific Horse or Greyhound. Bets are paid out at the Odds quoted when you Placed the Bet and are subject to deductions.
  • Tote Betting (Tote)Tote betting is when all bets placed on an event or race are placed into a pool. The odds of an individual runner is calculated by dividing the total pool (all wagers on all runners) minus any amount the house takes, divided by the amount wagered on that runner.
  • Top Tote Plus (TT+)Choosing Top Tote Plus Odds means you will always get the best return out of all three TAB's or the starting price (whichever is higher) on selected Australian Races. Place Bets are paid at Midi Div (second highest dividend declared by the 3 TABs) for all races.
  • Midi Div (MD) – Midi Div means you will get the middle return out of the Three TABs for all Win, Place and Each Way wagers on Harness, Greyhound, Australian Country and International thoroughbred meetings. If less than 3-TABs offer wagers on a meeting the SUPERTAB tote dividend will apply. If no TABs offer wagers on a meeting Starting Price (SP) will apply. The odds displayed are indicative prices of the middle TAB pools odds.

For more information on racing odds and payouts please click here

How are racing bets paid out? 

There are various totes across Australian racing, and the outcome of your odds may be dependent on the state of the track your race is run in. For more information on what tote your bet will payout on click here.

Wondering why your racing bet may have paid out less than expected?

There can be a few factors as to why your has paid out less than expected, see some examples below. 

  • Dead Heat - this refers to an outcome where two or more competitors are tied for the same position. In this instance, your bet is settled under the dead heat rules for that event.
  • Deductions - these occur due to scratching’s and are applied as a deduction of cents in the dollar (effectively, a percentage) from your potential payout. All final field scratching’s will incur a deduction to eligible fixed odds bets.

Racing Exotics

Now we have touched on some of the basics across racing, we can start diving into the exotic racing markets.

Exotic racing markets sit outside the basic win, place and each way bets. These can include picking winners of multiple races, picking the top two, three or four horses in the race and many more options we will explain. 

What are racing exotic markets? 

  • Standard Quinella – A Standard Quinella is when two runners must be selected to place First or Second in any order for the wager to be successful.
  • Exactas – An Exacta is when the first two place-getters are selected and nominated in that order for the wager to be successful. Standout and boxed exactas are available with
  • Trifecta A Trifecta requires you to select the first, second, and third finishers in a race in their exact order.
  • First Four A First Four consists of selecting four runners to place first, second, third and then a fourth in the correct order. You can also select a boxed First Four, which means selections can finish in any order.
  • Quaddies – A Quaddie requires nominating and selecting the successful first place winning runner of four consecutive races listed on the Quaddie race card. 

What are exotic multi bets? 

Customers have the opportunity to place various different types of exotic multi bets. These can be quite confusing and we are here to help simplify. 

  • Exotic/Combo Multi's – When you’re looking at the options available on the bet slip, hover your mouse over the name of the bet (i.e. Trixie) and you will be shown what combinations of Boxed Multi bets your bet will be made of.  A combo multi can have a number of possible outcomes, meaning that not all legs have to win to collect a return.  
  • Each-Way Multi'sEach way multi payouts are subject to change depending on the results of the selected runners. These are calculated by the original stake divided into half your stake on the win and half your stake on the place, the winnings from leg one will then be carried onto the next leg. Click on the Each Way Multi link above to see a breakdown of how payout is calculated. 

For more information and exotic markets offered by Sportsbet, please click here

Same Race Multi

The Same Race Multi gives you greater flexibility and a range of prices. You no longer have to rely on the running finishing in the top 3 to get a return on your bet.

To place a Same Race Multi you will need to click on the Same Race Multi tab, add your selections you believe will finish in the top four, input a stake and confirm. 

Cash Out is not available on Same Race Multi's. 

Can I use a promotion on a Same Race Multi? 

You will be able to use a Bonus Bet or Power Play on your Same Race Multi if available on your account. Once you add your selections to the bet slip, you will see any promotional offers available to use. 


Can I combine multiple Same Race Multi's into one multi? 

You will have the opportunity to add multiple Same Race Multis into one bet. You will need to add your Same Race Multi selections to your bet slip and scroll down and you will be offered a price for all selections multiplied.

For more information on Same Race Multi's please click here

Bet With Mates 

Ready to elevate your punting experience to a whole new level? Sportsbet's Bet With Mates has you covered, whether you are a seasoned punter or starting out.

Bet With Mates allows Sportsbet customers to create a group, pool their funds and bet on behalf of the group.

How do I create or join a Bet With Mates group? 

  • Create – To start your own Bet With Mates group, click on your balance to access the quick access menu and select start or join group. Follow the prompts and set the buy-in amount required to join the group and invite your mates.
  • Join – To join a group, you'll need a valid Join Code, and successfully transfer your Buy-In amount from your Sportsbet personal account to the group account. You can receive a link via SMS via the group admin. 

How many groups can I join? 

You can currently create or join a maximum of two Bet With Mates Groups. As of 2nd October 2023, if you are currently in two or more existing groups and want to create another group, you'll need to leave your groups until you are a member of less than five before being able to create a new group.

How do I deposit and withdraw from my group? 

  • Depositing - The timing and amount of a Top Up is set by the group admin and may vary on each occasion, members can not deposit outside the Top Up amount requested.
  • Withdrawing - Similar to the Top Up function, only the group Admin has the ability to distribute/withdraw all or part of each member's share equally, at any time.

For more information on Bet With Mates accounts, and permissions please click here


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