Bob acquired his own trainers licence in 1956. As well as Manikato, Hoysted also trained Rose of Kingston and Sydeston. Hoysted was a "driving force" behind the Australian Trainers Association (ATA), serving as federal president for over quarter of a century.
He was awarded the Medal of the Order of Australia in 1993 for "service to racehorse training and to the industrial welfare of trainers" and was inducted into the Australian Racing Hall of Fame in 2008.
After retiring as a trainer, Hoysted retired to the regional Victorian city of Castlemaine. During World World War II, Hoysted served in the Royal Australian Navy and was present on HMAS Warramunga in Tokyo Bay during the signing of the Japanese Instrument of Surrender on September 2, 1945.