One Pool to Rule Them All
Australia’s three state tote pools have merged into one national pool. Here is what changed on the racecard, and what Tabcorp plans next.
On 3 and 4 October, Tabcorp merged NSW TAB, SuperTAB and UniTAB into One Pool, a single national pari-mutuel pool and the first in Australia in about 70 years. Every state and mainland territory now bets into the same pool and collects the same dividend.
What changed on the racecard
Most of the merger sits in the plumbing. What you see is a shorter, simpler racecard.
| What | What changed |
|---|---|
| Tote (TO) | Replaces the state pool labels. One dividend, nationwide, instead of separate NSW, SuperTAB and UBET prices. |
| Tote Plus (TO+) | The new name for Top Tote Plus. Works the same way, paying the better of the tote dividend and the starting price. |
| Midi Div | Retired. No longer available as a price option. |
| Best Tote | Effectively gone. Only one dividend exists now, so the option has no function. |
| Bet types | Unchanged. Win, Place, Quinella, Exacta, Trifecta, First 4 and Quaddie all stay. |
The change applies at every bookmaker that offers a tote price.
The 14.5% takeout rate
Getting there meant reconciling three different state takeout rates, with no rate moving by more than half a percent. It needed sign-off from racing authorities in every jurisdiction, and the terms took nine months to negotiate.
A bigger pool means steadier dividends. Your trifecta no longer gets flattened because one large bet landed late into a thin pool. The takeout is unchanged, though, so dividends don’t get bigger on average.
What comes next
Tabcorp has flagged more to come. TAB’s chief wagering officer, Michael Fitzsimons, called the launch “base camp”. From there the company has pointed to variable takeout rates based on field size, tote betting on AFL and NRL, bigger jackpots, and eventually wholesale access so rival bookmakers can bet into the national pool directly.
How the tote price compares with the exchange
One Pool gives every punter in the country the same dividend. On the same race, the exchange often pays more.
Betfair ran its own numbers on One Pool’s first ten days, comparing the Betfair Starting Price with the One Pool win dividend on every winner. Across 553 winners from 551 Australian thoroughbred races, it found the BSP paid more on 391 of them, or 70.7%, with the widest gaps on longer-priced winners.
This is Betfair’s analysis of its own product, but the gap makes sense when you consider that Betfair’s commission is much lower than the 14.5% taken by the Tote.
The BSP is a single price set at the jump, when the back and lay bets waiting on the exchange are matched against each other. Every BSP bet on a runner gets the same price, set by other punters rather than by a pool formula or a bookmaker’s margin.
In addition to offering better prices on racing via the BSP, Betfair also allows punters to bet against an outcome using lay betting. This is what makes it possible for matched bettors to profit with minimal risk. If you’d like to learn more, check out our free course
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Quick answers
What is One Pool?
One Pool is Australia’s national tote. It merges the NSW TAB, SuperTAB and UniTAB pools into a single pari-mutuel pool, so every state and mainland territory now bets into the same pool and collects the same dividend.
What is the One Pool takeout rate?
The win-market takeout is set at 14.5%. World Pool events sit outside One Pool, in a separate pool with a higher rate.
What happened to Best Tote and Top Tote Plus?
Best Tote no longer has a function, because there is only one dividend to pay. Top Tote Plus has been renamed Tote Plus (TO+) and works the same way, paying the better of the tote dividend and the starting price.
Does One Pool mean bigger dividends?
No. A larger pool makes dividends steadier, particularly in small fields where one late bet used to move the price. The takeout is unchanged, so dividends are no bigger on average.
Have any bet types been removed?
No. Win, Place, Quinella, Exacta, Trifecta, First 4, Quaddie and the other tote products all work as before.
Does One Pool or the Betfair Exchange pay more?
Betfair’s analysis of One Pool’s first ten days found the Betfair Starting Price paid more than the One Pool win dividend on 391 of 553 winners, or 70.7%, with the widest gaps on longer-priced runners. That is Betfair’s analysis of its own product, but the gap has a structural cause: One Pool deducts a 14.5% takeout from the pool, while an exchange charges commission on net winnings only.
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