What Is Tote Betting?

The Quick Answer

What Is Tote Betting?

Tote betting is a form of betting where all bets are placed into a pool. The company operating the tote pool then subtracts a percentage of the pool when all bets have been placed. The remaining money is then divided by the number of winning units to decide the dividend that will be paid out.

Tote betting, a common fixture in horse racing, operates on a pool betting system where all bets of a particular type are placed together in a pool, and the payout is determined by sharing the pool among the winning bets. Unlike fixed-odds betting where the gambler’s return is determined at the time of placing the bet, the payout in Tote betting depends on the amount of money wagered and the number of bettors who picked the winner. This form of betting is particularly popular in the UK and Ireland, and has numerous bet types ranging from simple ‘win’ bets to more complex ‘exotic’ wagers that can offer significant returns for small investments.

Understanding how to bet with the Tote requires knowledge of its various bet types. In races with 5 to 7 runners, the Tote pays out on the first two places, while in events with more than 8 runners, the first three places usually pay out. Handicap races with 16 or more entries typically extend payouts to the first four finishers. The Tote offers exotic bets as well, such as the Placepot which involves selecting horses that will place across the first six races of a meeting, presenting an opportunity for bettors to win large sums from small stakes.

Key Takeaways

  • Tote betting pools the stakes of all bettors and distributes the winnings among those who make successful picks.
  • The system varies payouts based on the amount bet and the number of winning bettors.
  • Understanding different bet types and strategies can increase chances of winning in Tote betting.

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Understanding Tote Betting

Tote betting, also known as pool betting, is an alternative to traditional fixed-odds betting, where stakes on a particular event are accumulated into a pool. Winnings are divided amongst the participants who make successful bets, after the Tote operator has deducted their percentage.

History of Tote Betting

Tote betting, or pari-mutuel betting, was introduced by Sir Winston Churchill in the UK to provide a safer and more structured betting environment. It opposed the monopoly of bookmakers and offered a fair return to punters.

Tote vs Fixed Odds Betting

While fixed-odds betting offers a predetermined return, Tote betting dividends are determined by the total stakes and the number of winning tickets, offering potentially better value and larger payouts for punters on less-favoured selections.

How Tote Betting Works

In Tote betting, all wagers go into a pool for a particular race or event. The return on each bet, or dividend, is calculated by dividing the total pool by the number of winning bets once the race is concluded.

Types of Tote Bets

There are many Tote bets such as win, place, exacta, trifecta, quadpot, jackpot, and Scoop6. Each offers a different method of betting on one or several races, either by picking the winner, finishing order, or placing in multiple events.

The Role of the Tote Operator

The Tote operator, originally the only totalisator authorised by the UK government, now competes with other operators. They manage the pools, ensure fairness, take a commission, and distribute the remaining funds as dividends to winners.

Advantages of Tote Betting

Tote betting offers transparency as payouts are directly influenced by the pool size. It often provides better value for money, particularly when betting on outsiders rather than favourites.

Calculating Winnings

Winnings in Tote betting are calculated by dividing the remaining pool, after the operator’s deduction, by the number of winning tickets. This dividend is the amount paid out for each winning stake.

Tote Guarantees and Promotions

The Tote Guarantee ensures payout will never be less than the starting price, protecting the punter’s interests. Promotions often include rollovers on jackpot and Scoop6 bets, where prize pools can accumulate.

Understanding Tote Pools

A Tote pool is the collection of all stakes made on a particular bet type. Separate pools exist for different bet types such as win, place, and exotics, with each pool varying in size depending on the number of punters’ contributions.

Reading the Tote Board

The Tote board displays the current odds and stakes for each runner. These odds represent the current state of the pool and are continuously updated as more bets are placed.

Tote Betting Strategies

Successful strategies include researching runners, considering pool sizes, and understanding the significance of market moves. Experienced punters may seek value in overlooked horses to maximise returns.

Glossary of Tote Betting Terms

Key terms such as dividend, exacta, placepot, and quadpot are essential for understanding Tote betting. Each refers to a different aspect of pool betting, from payouts to specific types of wagers.

Participating in Tote Betting

Punters can participate in Tote betting by placing their stakes with a Tote operator at racecourses, through online platforms, or via other approved betting outlets.

Tote Betting on Major Racing Events

Major UK and Irish events, such as those held on Saturdays or during festivals, often see significant pool sizes, providing enhanced opportunities for Tote betting.

Managing Risks in Tote Betting

Risk management in Tote betting involves understanding the types of bets, avoiding overstretching on high-risk options, and employing strategies that distribute the risk across different races and bets.

Tote Betting Online

Digital platforms have bolstered Tote betting’s accessibility, with punters able to place their bets online through various websites offering Tote pool participation.

Joining a Tote Betting Syndicate

Betting syndicates allow punters to pool their resources for Tote betting, enabling a collective strategy and potentially larger stakes in the pool, thus increasing the chance for a more considerable dividend if successful.

Frequently Asked Questions

This section addresses some of the most prevalent queries concerning Tote betting to provide bettors with clear and concise information.

How does Tote betting operate in horse racing?

Tote betting in horse racing involves pooling all wagers made on a race, which are then distributed among winning ticket holders. The final payout isn’t determined until the pool is closed and the race begins, which contrasts with fixed odds betting where the payout is known at the time of placing the bet.

What strategies increase the chances of winning on the Tote?

To increase one’s chances of winning on the Tote, a bettor may consider studying the form of the horses, understanding the dynamics of the pools, and selecting the less favoured horses when they believe the odds might tip in their favour due to the pool’s nature.

Can you explain the concept of ‘Best Odds Guaranteed’ in the context of Tote betting?

‘Best Odds Guaranteed’ is a bookmaker’s promise to pay out at the highest odds if the starting price ends up higher than the odds were when the bet was placed. However, this concept typically does not apply to Tote betting as the final odds are determined by the pool and only known once the event starts.

How does the Tote betting calculator function?

A Tote betting calculator helps bettors ascertain their potential payouts. Bettors input their stake and the current dividend odds into the calculator, which then provides an estimated return based on those figures. The calculation includes the stake within the total returned value.

What types of Tote bets are considered most advantageous?

Exotic bets such as the Tote Placepot, where a bettor selects a horse to place in each of the first six races at a meeting, can be advantageous due to the potential for high returns from a small outlay. Additionally, in races with many runners, selecting an outsider in a Tote bet can offer value if the horse performs better than expected.

In what manner does Tote betting apply to football?

Tote betting can be applied to football through pools like the football jackpot, where bettors predict the outcome of selected matches. The pool is divided among those who have made correct predictions, similar to horse racing, but instead of placing bets on runners, bettors wager on match results.


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