What Is Pool Betting?
What is pool betting is a question we often get asked. Basically, it is a form of betting where all bets are placed in a pool. The company then running the pool takes a cut, with the remaining money divided equally between the winning tickets, or pro rata if people have invested different amounts on the winning selection. Pool betting is commonly associated with horse racing and greyhound racing.
Types Of Pool Betting
There are a variety of pool bets you can get involved in, such as win, place, exacta, trifecta, placepot, and jackpot.
A Win Pool bet: A pool bet where all bets are placed on sections to win the race.
Place Pool Bets: There is no each-way pool betting, so if you want to bet each-way you must place a win bet in the win pool and a place bet in the place pool. The place bet may not reflect the win odds.
Exacta Bet: An exacta bet is the pool betting equivalent of a straight forecast in which you must pick two horses to finish first and second. You may also place reverse exactas which costs twice as much money but covers your two selections finishing first and second in any order.
Trifecta: A trifecta bet is the pool betting equivalent of a straight tricast in which you must pick three horses to finish first, second, and third. You may also place combination trifectas.
Placepot: The placepot is a bet you can’t place at traditional fixed odds. It is a bet in which you pick a horse to place in each of the first six races on a card. You may also place a variety of placepot permutations. The nearest equivalent at fixed odds would be an each-way accumulator.
Jackpot: The jackpot is a bet you can’t place at traditional fixed odds. It is a bet in which you pick a horse to win each of the first six races on a card. You may also place a variety of jackpot permutations. The nearest equivalent at fixed odds would be a win accumulator.
How Is Pool Betting Different From Fixed Odds Betting?
Pool Betting is very different from fixed odds betting. Fixed odds betting is when you place a bet and are given the odds offered at that time – I.e. your odds are fixed, though BOG (best odds guaranteed) concessions can mean you may still get better odds if the SP (starting price) is bigger. If you bet at fixed odds, you always know what you’re getting, with the potential bonus of BOG.
As one of my betting mentors once joked, pool betting is for punters that want to swim in unknown waters.
What he meant by this is you never know what the odds are going to be when you do pool betting, as the odds (or returns) depend on the number of people that have bet on the same selection as you in that pool, and how much they have all bet. This means that pool betting comes with the risk of getting a significantly lower return that you would if you’d taken fixed odds, as well as the potential excitement of getting a significantly bigger return than you would have done if you’d taken fixed odds.
An Example Of Pool Betting Returns
Imagine a horse race where you fancy the 6/4 favourite to win. You could guarantee yourself 6/4 or a 150% return on investment by taking the fixed odds, with the potential for a bigger return if the SP is bigger.
Now imagine that lots of other people fancy the same horse and all of you decide to bet in a pool. 1,000 people bet into the pool, with 40% of the money going on your selection. The organisers take out their 20% cut and the 40% bet on your horse is now half of the remaining 80% of the pool.
This means you will get back double the money you invested, but this is only equivalent to even-money. That means you could have won much more if you’d taken the 6/4 fixed odds.
The above is only a negative example, as you can also get a bigger dividend by betting in a pool. But the trouble with pool betting is it’s the unknown returns that can seriously affect your expected ROI (return on investment).
Do Professional Tipsters Offer Pool Betting Tips?
This often depends on which country your betting in. In some countries such as America, France, and Australia, you may have no option to bet in the pools. So, in countries such as these, tipsters may only be able to offers pool betting tips.
But horse racing and greyhound racing in the UK and Ireland is very different, with professional tipsters having access to a wide variety of fixed odds. Therefore, it is unusual for professional horse racing and greyhound tipsters to offer pool betting tips.
This is because of the uncertainty of the odds. Professional tipsters are always seeking value odds, which is when the odds are greater than they think they should be. While, you can secure value odds by betting with fixed odds bookmakers, tipsters can’t guarantee you will get a value price if you bet in the pools.
Here at Betting Gods, our tipsters offer a variety of horse racing and greyhound tips at fixed odds. If you’d like a steady supply of professional tips, please subscribe to one of tipping services. If you’re not sure which tipster you want, please feel free to check through their profiles and records. You can also test a variety of free tips from our tipsters to see which one you prefer.
If you’re looking for more information or betting advice, you can check out hundreds more free articles on the Betting Gods blog. Happy punting!