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A TAB store in Glen Eden, West Auckland, New Zealand. The Totalisator Agency Board [note 1], universally shortened to TAB or T.A.B., is the name given to monopoly totalisator organisations in Australia, New Zealand and South Africa.
Parimutuel systems had used totalisator boards since the 1860s, and they were often housed in substantial buildings. However, the manual systems often resulted in substantial delays in calculations of clients' payouts. The first all-mechanical totalisator was invented by George Julius. Julius was a consulting engineer, based in Sydney.
The company was founded by Harry L. Straus, a computer engineer from Baltimore, who became interested in developing a fairer system of calculating and displaying odds and payouts on parimutuel betting after an incident at a Maryland racetrack in 1927. When a horse listed at 12:1 odds won, but paid off at 4:1, Straus recognized the need for a ...
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In 1961, the Victorian TAB (Totalisator Agency Board) was established, legalising off-course totalisator betting. Three years later in 1964, the NSW TAB was established, betting on two race meetings on its first day at Canterbury and Menangle.
TAB Logo. TAB New Zealand (TAB NZ), previously known as the New Zealand Racing Board (NZRB) and the Racing Industry Transition Agency (RITA), is a statutory monopoly for New Zealand sports betting, including betting on horse racing and greyhound racing.
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