Totalisator Agency Board (short TAB)
is the name of the betting agencies in Australia and New Zealand (Source). Initially, government-owned, the monopoly totalisator organisations went through privatisation. Nowadays, the majority of TABs are owned by Tabcorp and Tatts and the last government owned TAB in Western Australia is due to be sold soon (Date of writing: 8th April 2016 – Source).
What does Totalisator even mean?
Computer that registers bets and divides the total amount bet among those who won