Sports and race betting
Betting on the races and sporting events has always been popular, but online gambling has made it easier than ever to place a bet.
This page will help you understand:
What makes sports betting risky
Betting on sport or the races might seem exciting, but it can be one of the riskiest forms of gambling. Research shows people who bet regularly, especially young men, are more likely to experience harm. According to the NSW Gambling Survey, sports and race betting accounts for 16.5% of gambling harm in the state.
- It’s heavily promoted: Ads on TV, social media, and even at stadiums make betting look fun and normal. Promotions and bonus offers can lead to people placing bigger bets and betting more often because they hide the true cost of the bet.
- It’s always accessible
: Betting apps mean you can place a bet at anytime and from anywhere. This can make it harder to take a break or keep spending under control.
- Social pressure plays a role: Some people may feel pressured to bet to fit in with friends. Peer pressure can also lead to betting more than you can afford.
- It feels like skill - but isn’t: Knowing a lot about your sport can create a false sense of control. In reality, random events and unpredictable factors mean no bet is ever guaranteed. The odds are designed so that it is the bookmaker who wins – not you.
Understanding these risks is the first step toward making informed choices. Betting should never feel like the only option. If you do decide to have a bet, you should know the facts and use the consumer protection tools in online betting apps to help you stay in control.
Why the odds are stacked against you
Sports and race betting may involve some skill, but many unpredictable factors influence outcomes. You can’t control or predict:
- Weather events, injuries and illness
- The form or behaviour of players, teams or animals
- Refereeing or racing incidents
- Random events, margins, and odds set by bookmakers
If you bet on multiple events through a multi bet, your risk increases even more as the operator margin is much higher for these types of bets. You have less chance of winning, not more.
Even experienced punters lose money because outcomes are ultimately uncertain, and the odds are designed to favour the betting company, not the punter. Betting Service Providers may also seek to restrict the gambling activity of customers who are successful at winning over the longer term.
Common myths about improving your odds
Many people believe these common myths about sports betting.
Myth: You can predict outcomes with enough research or a “sure” strategy
Reality: Sport and racing outcomes are random and the probability of success are reflected in the pricing of markets. Bookmakers price their markets so that they make money – and their customers lose.
Myth: A team or player on a “hot” or “losing” streak is “due” for a change
Reality: Past results do not influence future events.
Myth: Betting on the favorite is a safe bet
Reality: Favorites may win more often, but upsets happen. Even if they do win, the prize is smaller and it’s never a sure thing.
Myth: Line movements mean “insider info”
Reality: Odds shift for many reasons, including public sentiment and bookmaker risk management.
Myth: Online betting apps are all the same
Reality: Only licensed apps are regulated and have the security and privacy you need. Unlicensed apps do not have these protections. Unlicensed apps might also keep your money – even if you win or take money from your account without your permission.
