What happens to my $2 bet ?

lick · May 2014

If I have a $1 win $1 place bet on Perth Racing - where does the money come and go.

What percentage goes to the Government (tax), RWWA etc

Does it make any difference if its an odds on favourite or 100/1 outsider wins or places. Is it the same deductions for all forms of betting, or does sports betting, favourite numbers etc take more or less.

Is it simply a matter of the balance (after the deduction above) then being given to the winning and place getters winning tickets.

Is the distribution in tax and RWWA etc any different if I bet at home, in a TAB, or on course - does the race club get more if placed on course.

RIO · May 2014

I see after an hour no one else has responded Lick so i'll have a shot at the answers for you. This has been discussed before on here and I'd hope that after i give you my view of the answers that the people in the know will come on and say your not right there rio, sort of right there, etc ,etc.

What percentage goes to the Government (tax), RWWA etc ...It does depend on the type of bet, but working on a e/w bet is as a general rule of thumb that 21% is with held from the pool for RWWA, 17% goes to them (for managing the industry stakes monies, grants,etc)and up to 4% to the club holding the meeting. if the bet is done on course although not totally accurate you can reverse those figures...17% goes to the club and 4% to RWWA...These figures are very different on novelty bets and Fixed Odds.

Does it make any difference if its an odds on favourite or 100/1
outsider wins or places. Is it the same deductions for all forms of
betting, or does sports betting, favourite numbers etc take more or
less. NO It makes no difference of the payout...the 21% is taken from the total pool of the win/place... I'm unsure of the percentages of the sports betting but i thought it was as low as 2-4%, but am not sure.

Is it simply a matter of the balance (after the deduction above) then
being given to the winning and place getters winning tickets. YES...from my knowledge, deduct the RWWA fee/tax and then pay out the pool dependent on how many win or place units have been paid..

Is the distribution in tax and RWWA etc any different if I bet at home,
in a TAB, or on course - does the race club get more if placed on course... Yes, as stated above if you bet on course the club gets more...but the RWWA deduction out of the pool is the same..So a big benefit in clubs having patrons betting on course...makes no difference to RWWA at all...In fact patrons on course have a negative impact on their pool of money!!!! Am unsure of the structure used for TAB's..

Now don't be too shy to come out and correct me..i just thought I'd throw up MY understanding of the situation..Don't ask about the novelty betting as that is truly different..

tony · May 2014

Commission rates as follows (from Victab website)

Win 14.5%
Place 14.25%
Quinella 17.5%
Exacta, Quaddie and trifecta 20%
First 4 22.5%

lame · May 2014

my understanding when betting at a TAB is the venue your betting at gets 10% of turnover not sure what else goes where but that was from a publican quiet a few years back

kalcat · May 2014

lame said:
my understanding when betting at a TAB is the venue your betting at gets 10% of turnover not sure what else goes where but that was from a publican quiet a few years back

Ya might want to try about 2-4% goes to the agency (owner), depending on where the location is what needs to be paid out etc. They can get in commission anywhere from $2000 to $5000 (even more) a week, but then wages and bills have to come out of that as well.

SPUDLEY · May 2014

I used to know a agency owner who would suddenly have a big bet on a horse about to be scratched so as to get as much turnover % as possible before it was scratched.

SLIPPERGOLDEN · May 2014

Huge effort with that response Rio... That is the reason we all held back. B-)

Aquanita · May 2014

Tony is spot on with commission rates and the 22.5% on first four is the reason why I never take one unless there is a carryover.

Clubs retain all of the gross commission on course and do not pay the state taxation on turnover of around 4% that RWWA has to pay on off course turnover. This should be a great incentive for clubs but sadly they have been unable to maximise this source of income since the late 90s.

The anecdote about investing on Scratchings would be completely false as agents would receive commission on net investments after Scratchings. I would have had an Agency and retired long ago if they received commission of 10% on turnover.

The bottom line is the best return for the racing codes would be:
1. On Course Tote Turnover
2. Off Course TAB turnover
3. On Course Bookies Turnover
4. Corporate Bookmakers and Betfair

sonny · May 2014

I also do not play the first4 unless their is a jackpot.22.5% is much to high.

LuckyLongshots · May 2014

kalcat said:

lame said:
my understanding when betting at a TAB is the venue your betting at gets 10% of turnover not sure what else goes where but that was from a publican quiet a few years back
Ya might want to try about 2-4% goes to the agency (owner), depending on where the location is what needs to be paid out etc. They can get in commission anywhere from $2000 to $5000 (even more) a week, but then wages and bills have to come out of that as well.

I heard it can be as little as 1%, so the agency gets $1 from a $100 bet - if you've ever wondered why the customer service in some TAB's is average, there is your answer!

thefalcon · May 2014

i thought agents commissions were on a standard sliding scale of turnover.

peleus · May 2014

1% is actually a good number already. I mean, this is percentage based so if we're talking about huge numbers, you already know what that means. :)

G'day Punter!

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