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What are Topbetta Tournaments and how they work?

What are Topbetta Tournaments and how they work?
What are Topbetta Tournaments and how they work?

TopBetta is an Australian online bookie launched in 2013. This is a Newcastle-based bookmaker and betting tournament operator. The service was originally licensed in Norfolk Island by the Norfolk Island Gaming Authority. TopBetta was granted Sports Bookmaker’s Licence by the Northern Territory Racing Commission in August 2016.

TopBetta stands apart from other bookmakers through its provision of betting tournaments, where participants are given fantasy money to wager with the aim of accruing the highest hypothetical profit. TopBetta markets itself as being the world’s first social betting platform because members compete against each other rather than just take on the bookmaker. 

  • In April 2017 it was announced that TopBetta had entered into an agreement to acquire the Norfolk Island licensed bookmaker Mad Bookie.
  • In April 2018 PlayUp Limited announced it had entered into an agreement to acquire the retail bookmaking subsidiary of Sydney-based TopBetta Holdings Limited (ASX:TBH), which includes the ‘TopBetta’ and ‘Mad Bookie’ brands. 

What are Topbetta Tournaments?

What are Topbetta Tournaments?

The Topbetta tournaments run are what makes this bookmaker unique. The tournaments can run over a single race meeting, sporting competition or it can across several meetings or weeks of a competition.

This means theoretically you can run a tournament with all the races from the unnofical ‘Day 3’ of The Championship at Randwick and the Golden Easter Egg greyhound meeting, to be held on the same weekend at Wentworth Park.

The tournaments can vary from free, for those who just want to have fun, to high stakes, with every category of punter catered for.

In the  race betting tournaments where the “TopBetta” is the player makes the most profit from their bets.  In each tournament punters are given 1,000 “BettaBucks” or more – a TopBetta fantasy currency – to bet with on the nominated fixtures or races. Participants are ranked based on the profit they achieve using their fantasy money. The smaller tournaments have a winner takes-all-prize while the bigger competitions award lesser prizes to the runners up. The actual payouts are based on the size of the pot, which is based on how many people enter the competition.

For the paid tournaments the entry fee is taken from your account balance, with tournament winnings paid back to your balance. This same balance is used for standard sports and race wagering. Typically for a tournament with a $10 entry fee, $9 is allocated to the prize pool with $1 kept as a service fee by TopBetta. Entry fees vary between tournaments. The paid tournament fees ranged between $2 and $110 at the time of review, while the prize pools ranged from $30 to $10,000.

How to enter a Topbetta tournament?

  • To enter a Topbetta tournament you need to first create your account at this bookie.
  • Once you have signed up you need to login to your account and click the tournament tab, which is on the far left of the top menu.
  • From here you will see all the different tournaments on offer, with these ranging from racing to various sports events.
  • You will see they have different buy-in amounts, ranging from free to bigger amounts, in the thousands. This means you have to fund your Topbetta account before you can enter them.

After you have signed up for a tournament you will be given BettaBucks to bet with. The amount you will be given will depend on how much the specific tournament cost to enter.

The tournament console clearly shows how much you have bet or turned over, and how much more you need to turn it over before you qualify to ‘win’ the tournament.

You can bet as little, or as many BettaBucks as you like on each race or match, which allows you to spread your wagering over many events in the tournament.

After you have placed your initial wagers you wait for the result of the event you placed it on. You can then check the leaderboard which will tell you how you are travelling in the event.

This is the time when you determine if you should bet in the tournament again, or sit on the lead you have developed in the tournament.

Remember there is no benefit in scoring more points once you can’t be beaten in a tournament, your goal is to beat the other people in it, rather than continually backing winners.

Two types of tournaments at Topbetta

The two types of tournaments at TopBetta are ‘Sport’ and ‘Racing’ with some of them working like a poker satellite.

  • For the uninitiated that means you play in a tournament with the winner, or a certain amount of leaders, qualify for a tournament worth more.
  • This means you could enter a $10 racing tournament, with the winner qualifying for a $200 or $500 tournament the following Saturday, giving you a chance to win a big bounty.

Other tournament work under a winner takes all philosophy, meaning the leader at the end of the tournament gets all the pool, minus the betting company’s take.

Some other tournaments might work on a top three basis, so if you enter the tournament and there are 50 participants who have paid up, the pool will be split between the three leaders on a sliding scale.

Tournament re-buys

You can enter a tournament more than once if you are knocked out. The only caveat on this might be, for instance, if the deadline for re-buys has passed. Usually if it’s a racing tournament the deadline might be after race five or four, depending on how many races there are on the card.

Other tournaments based around sports might cut re-buys off half-way through the round, for instance if it was an AFL tournament you may no longer be able to buy back in after the Saturday afternoon games, which is generally around half way through the round. The rebuy costs is usually the same amount you paid to get into the tournament.

Horse racing at Topbetta bookie

At Topbetta bookie Australia thoroughbred racing is available for venues in Australia and New Zealand as well as Ascot (UK), while greyhounds and harness racing are offered for Australian and New Zealand venues.

Win/Place, Quinella, Exacta, Trifecta and First Four markets are available. Depending on the horse racing event you will be offered one of the following totes: SUP= SuperTab, TOP = Top tote from NSW/S-TAB/Tatts or BO4 = Best of 3 Totes or SP. For greyhounds and harness racing you are offered one of MID = Middle tote from NSW/S-TAB/Tatts or SUP = SuperTab. Fixed odds markets aren’t offered.

When you click on the name of a runner their form guide is automatically displayed. The odds flash red and green to denote odds changes leading up to the race start.

A neat feature of the interface is when you view the list of today’s races, any races that you have placed bets on are highlighted with a “B” icon.

To place the bet you can use POLI, Bank EFT, BPay and credit debit card to make a deposit.

You can even use the Topbetta mobile app to place your bets on harness racing and other horse races on the go. You can download their free app from iTunes for iPhone and from Google play for Android smartphones.Click here to place your bet now on Topbetta tournament.

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