The betting industry is a very competitive place. Many people make a living out of it, but very few turn their bets into life-changing sums of money (most people lose, just like when you trade the stock market). Those who succeed know how to take advantage of edges and understand the math behind their decisions. They also keep track of their winnings and losses, which helps them avoid the pitfalls of gambling addiction.

When placing a bet, the potential payout is always shown on the betting slip. The odds are always in decimal form and include a positive number (so they are not negative). The total payout is calculated by multiplying the odds of winning by the amount wagered.

Sportsbet has a lot of features that you won’t find elsewhere, such as Same Race Multis, which allow punters to back multiple races with one fixed odds price. These are similar to a trifecta or quinella bet but with better odds and no wait for the race to conclude.

Another feature is Bet With Mates, which allows two or more members of a group to pool their funds and bet together on any racing or sports market. An Admin from the group sets their Buy-In and can control how much each member can bet on any given event, while group members can easily transfer their funds or request account Top Ups at any time.

Another feature of the site is its extensive range of racing markets with a comprehensive offering on all of Australia’s major tracks. It also offers a good selection of esports, minor sports and more popular events such as football and tennis.