In order to enjoy racing, it is beneficial to win and see a return…
Punters take 20% LOSS on EVERY BET!!!
This cute fact is due to the TAB Tote machine’s Profit Algorithm, which takes out around 20% Commissions Margin (usually quoted as 15%-20%). That means the tote (TAB) will take up to 20% out of the pool, yes, out of punters money, as Commissions.
The average punter has lost 20% before the race even starts. In truth there is no way to recover this money, it is lost forever to hungry tote machines and their owners.
Does the punter really have a chance? Sure, see Long Term Winning and Value betting.