How to Guide – What Is Pools Betting?
What is Pools Betting?
Pools betting is a type of betting system used across all three codes in Australia – thoroughbreds, greyhounds, and Harness.
All bets for each type of wager on an event are pooled together, and the odds and payouts are determined by the total amount bet on each outcome in that race. After the race closes the track or pools operator takes their cut before the remaining $ in the pool is shared across all winning bets.
The attraction of pools betting is that the odds and payouts are not fixed ahead of the races, so your potential return will continue to change as more people bet into the pool before the race jumps.
For Example: in a three dog race, a total of $10k has been bet into the pool. The track take 20% as their commission, leaving $8k in the pool to divide across all winning selections.
If dog two wins, and you backed it, you get a share of the $8k based on size of your bet. If $3k of the pool was bet on Dog 2, then your winning payout is $8,000 ÷ $3,000 = a return of $2.67 per $1 bet.
Key Features of Pools Betting
Pooled system: meaning bets are not laid against the house — they are against each other.
No fixed odds: Odds fluctuate up until close of betting.
Established type of betting: overseas pools betting may be referred to as pari-mutuel betting, and pools-based wagering is used across most racetracks worldwide.
Multiple bet types: Supports win/place, exacta, trifecta, etc.
Advantages of Pools Betting
The odds are not fixed or set by a bookmaker. That means the odds are in principle more transparent.
Encourages more pool-based strategy e.g. value betting.
Disadvantages of Pools Betting
Payouts are not known until after the race jumps.
Pools can be subject to manipulation and prices can skew sharply prior to jump.
Please remember that however you select your bets please gamble responsibly., set limits, stay in control, and seek help if needed. Gambling should be fun, not a problem. For more information visit https://www.betstop.gov.au/