These days you can bet on almost anything at the Totaliser Agency Board (TAB). Back when I was a lad it was just the gallops (horse races) and the trots. By the time I was about 23-ish you could bet on the dogs (greyhound racing). But now the TAB lets you bet on football, soccer, tennis, surfing, cricket, golf, motor racing, and lots more.
Laying in bed the other night I though of something else the TAB could offer odds on and take bets for: The stock market.
You could place simple bets on whether the market was going to go up or down by the close of the market the next day. Then, to make it really interesting, you could increase your leveraging—so to speak—by picking the number of points the market was going to move by in steps of five points. So, at the moment for example, if you were placing a bet for tomorrow and you wanted high odds you could bet the All Ordinaries will go up by 22 points. So the TAB would pay out on this if the All Ordinaries went up by anything between 20 - 25.
Right now, with markets in their current mood, I think the odds for this would be something like 50:1; whereas betting on the market going down is a very low risk bet and would probably pay less than even money.