Now that horse racing is truly an international affair, with races simulcast around the globe, there are many opportunities available for unique situations. Winning at the horse races is often just a matter of finding the right situation and then taking advantage of it. In other words, finding a spot play.

In Australia and other parts of the world, less emphasis is placed on blinding early speed or rapid pace. Long gallops over the green are used to build a good foundation in a horse while gradually bringing the runners up to the races.

There are four main avenues for race betting in Australia.

1. Licensed on-track bookmakers offer fixed-odds betting, mostly on wins and places.

2. Off-track betting was traditionally controlled by the various state government through organisation called "Totalisator Agency Boards" (TAB), which offered mainly parimutuel betting - 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. Many of these "TABs" have now been privatised, and many pubs now offer betting services linked to the privatised offshoots of the companies.

3. In some parts of Australia there was a tradition of illegal off-course bookmaking, known as SP bookmaking historically involving significant turnover, though it is unclear whether this is still the case.

4. Finally, there is Betfair, a person to person betting exchange

Public interest in thoroughbred racing, especially during the main Spring and Autumn racing carnivals, has been growing in recent years with over 100,000 attracted to the running of both the Melbourne Cup and VRC Oaks. The Caulfield Cup and W S Cox Plate are also major attractions.