With a TAB, all the money bet on a race goes into a pool. The computer quickly calculates how many winning tickets there are and declares a dividend that will result in 85 per cent of the pool being paid out to punters. So the TAB cannot lose. The other 15 per cent goes to government taxes, the racing industry and operating costs.
The more money that goes through, the more the TAB gets. So the TAB wants as much money bet as possible. It does not care whether that money comes from very skilled punters who win more than they lose. The TAB just passes its losses to those punters on to the mugs. A bookie on the other hand does not want the custom of the smart big punter. The bookie determines the odds before the race irrespective of his pool and therefore the bookie has to bear the loss.
So it is important for state TABs to attract and keep big punters even though big punters can and do take more out of the TAB than they put in. Sounds bizarre, but it is logical.
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