The Lion Richlands offers three self- service TAB terminals, all located in Sports Bar. Additionally, there are two staff operated TAB terminals located in Sports Bar.
If you are needing some assistance with placing bets, simply ask one of our friendly staff members. We have many TV screens located all throughout the club displaying Sky racing channels, live sport and much more.
Queensland TAB betting products:
TAB has a number of betting products on both racing and sports. For racing it offers the traditional totaliser product, which pools together money from all constituent states that operate under the TAB umbrella.
It also offers fixed-price betting on Thoroughbred, Harness and Greyhound Racing. The fixed price odds product doesn’t apply only to Queensland racing but also to other Australian and International racing.
Tote betting:
Tote betting includes a host of different bet types, from standard Win and Place betting to all the exotic bet types, i.e. Quinella, Exacta, Trifecta, First Four and Quadrellas.
With tote betting, the dividend or potential payout is unknown until after the race due to the fluidity of the market and the fact that money can still be wagered right up until the moment the gates fly open. So basically final dividends will be declared at the completion of the race. And while TAB results and dividends are available soon after the race, payouts will usually take at least 10 minutes to be finalised and passed on to the successful punter, due to the stewards needing to weigh the jockeys and give the all clear.
The dividends are determined by the percentage of money each runner attracts from the total pool. With tote betting, the market percentage for each race is typically around 118%, guaranteeing a consistent percentage of the pool is returned to the TAB on each market.
Fixed odds:
Fixed odds betting allows punters to lock in a given price at the time of placing their bet. This price will not be subject to any future price fluctuations; however, deductions may apply due to scratchings. Fixed odds are often available well in advance of an event’s start time. This means they can be especially useful for punters who can identify value in early markets.
For major races such as the Melbourne Cup and Caulfield Cup, Fixed Odds betting is available for the better part of the year, in the Melbourne Cup’s case the odds for the next year are available within hours of the race’s completion. These early markets are known as Future markets and are All-In betting markets.
All sports betting relies on a Fixed Price odds product.
