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How does the Bundle Bet work?

FUNKY new betting types are usually the domain of the corporate bookmakers, eager to please their punters with outside the square action.

But the tote has jumped on board with its Bundle Bet.

And the TAB’s brand new toy is a ripper for those punters who suffer from a little procrastination.

Ever backed a runner in a race and wish you’d been able to back another as well?

You will never have that problem again with the TAB’s bundle bet, which allows you to pack in more than one runner in your bet.

We can’t wait for Melbourne Cup day, and here is why:

What is a bundle bet?

A Bundle Bet is a pretty simple thing, but it is just so damn good. The bet type uses the TAB’s fixed odds racing markets and allows you to choose more than one run in a particular race, combining them together and spitting out a new price. That means you can choose, two, three or more runners in the same race and get one price, allowing to back your fave horses without spreading your cash to thin with several bets. That way, you’re not betting against yourself.

How is the bundle bet price calculated?

Of course, when you have multiple selections in a race, the chances of a win become greater and therefore the odds on your bet will be lower. So the bundle bet price depends on how many selections you have and what their chances are of winning the race.

How do you put a bundle bet on?

The great thing about the bundle bet is you don’t necessarily need a TAB account to place it. The tote is providing the bet type on it’s thousands of Electronic Betting Terminals Australia wide, so you can do it at the pub while catching up with mates. Of course, if you need it mobile, you can always sign up and download the app.

What betting markets can you place a bundle bet on?

You can use a bundle bet in every race, every day, with the tote providing fixed odds chances on all Thoroughbred, greyhound and harness race events. And there are also selected futures markets that will allow you to place a bundle bet on them.

Bundle bet multis

Here’s where the real cash is to be made, You can put your bundle bets into a multi and include more than one race to greatly enhance your odds. It’s sort of like multi-ing a multi, with more than one bundle bet giving you a spread of selections across separate races, then spitting out the odds based on multiplication of each bundle. And not every leg of your multi has to be a bundle bet. You can have one or two bundles from races, with some straight out winner or place legs.

How many selections can you pack into your bundle bet?

The TAB website has set these parameters for Bundle Bets:

No more than 20 selections in your total Bundle Bet

No more than 20 selections in Multi bets containing Bundle legs

No more than 5 racing legs in your Multi bet (a racing leg can be a Bundle or a Single Bet)

There must be 2 selections in the market outside of your Bundle Bet

Bundle Bet prices must stay above the minimum value for that particular market

One of the selections in my bundle bet is scratched – how does that affect my odds?

Don’t fret if there is a scratching in a race you have placed a Bundle Bet on. The TAB will re-direct your stake to the other runners and your bet will stand. So you don’t have to worry about it being canned at the last minute. That doesn’t apply to racing futures markets, with the bet to stand, without redirections. And, if every one of your selections in your bundle bet gets scratched, don’t worry about that either. The TAB will give you a full refund. Those bundle bets which are included in multis will be voided in the event of a scratching, while multi bets on futures markets with all runners scratched won’t be refunded, so choose wisely.

Cashing out bundle bets

There is no washout option on individual bundle bets, but, if you have a bundle bet in a multi and say, a couple of the legs get home and you’re worried about the last, you can cash it out and avoid the fear.

What about the place?

It’s a bit of a bummer, but you can’t put place bets into bundle bets. For conservative punters, this would have been perfect.

How about sports?

Sports markets like AFL, NRL football and cricket are certainly in the TAB’s sights for this bet type, but, for now, bundle bets are only available on the aforementioned fixed odds racing markets.

Our take

Remember when we said we can’t wait to use this on Melbourne Cup Day?

The Cup is such a crapshoot with so many runners and so many chances, it is easy to fall in love with several of them. And that can lead to heartbreak and regret, when you have to choose one of your horses over another and the one you didn’t decide to lay your bet on happens to win.

That’s no worries now, with the bundle bet, you can pick all the horses you love and, if one of them salutes, you win. The bundle bet will also be a huge money saver on Cup day. Instead of having to spread your cash across several runners you have an interest in, you can lay one amount of money on one amount of odds and, if any of them get up, you’ll be saluting.

But it’s not just Cup Day where the bundle bet will add to your betting experience.

It’s every day there is a race meet on.

Sit down, pore over the form and pick your faves in each of the races. Pick out your bundle bet for a few of the races and then slam them all together in a multi to get the real juicy odds.

We reckon the TAB has broken new ground here and it won’t be long until the corporates bring in similar betting styles.