There are three main avenues for race betting in Australia. Licensed on-track bookmakers offer fixed-odds betting, mostly on wins and places. Off-track betting was traditionally controlled by the various state government through organisation called "Totalizer Agency Boards", which offered mainly parimutuel gambling - that is, the odds were not fixed but involved "the house" taking a fixed cut and distributing the remainder amongst people who made a winning bet. These organisations have now been privatised, and many pubs now offer betting services linked to the privatised offshoots of the companies. Finally, in some parts of Australia there was a tradition of illegal off-course bookmaking, historically involving significant turnover, though it is unclear whether this is still the case.
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Administration of Racing in Australasia
Racing in the Australian continent is governed by the Australian Racing Board. This body supersedes the power of the principal clubs, which were once the sovereign body of racing in every state until government reforms introduced separate governing bodies for the industry.
Victoria is considered to be the home of racing with international races like the Melbourne Cup. The governing body is Racing Victoria Limited. The principal club is the Victoria Racing Club, which races at Flemington; the two other metropolitan clubs are the Melbourne Racing Club, which races at Caulfield and Sandown, and the Moonee Valley Racing Club, which is famous for its night meetings.
New South Wales
Racing in New South Wales is governed by the NSW Thoroughbred Racing Board. The principal clubs are the Australian Jockey Club, which races at Royal Randwick and Warwick Farm, the Sydney Turf Club, which races at Rosehill Gardens and Canterbury Park.
Racing in South Australia is governed by Thoroughbred Racing S.A Limited. The principal club is the South Australian Jockey Club, which races at Morphettville, Cheltenham and Victoria Park.
Racing in Queensland is governed by the Queensland Thoroughbred Racing Board and the principal clubs are the Queensland Turf Club, which races at Eagle Farm, and the Brisbane Turf Club, which races at Doomben.
Racing in New Zealand is very similar to that of their counterparts on the other side of the 'Tasman'; there is a lot of movement of horses between the two countries, especially for breeding. The governing body is New Zealand Thoroughbred Racing Inc., and the principal club is the Auckland Racing Club, which races at Ellerslie.