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Tote Betting (Pool Bets)
The Horse race Totaliser Board (Tote) was introduced to Britain in 1929 to offer pool betting on racecourses. All the money bet on a race is pooled. From the pool a deduction is taken by the Tote operator. There are different levels of deduction for the different sorts of bets. These vary from 19.75% to 30%. The rest of the pool is divided by the number of winning units to give a dividend. The declared dividend (or Tote return) is declared to a £1 unit stake and includes the £1 stake.
Example
Assume the win pool for a race has received £10,000 of which 1,000 £1 bets have been made on the winner
Total amount bet (pool) £10,000
Deduction (16%) £1,600
Payout £8,400
Dividend £8,400 / 1000 = £8.40
So for every £1 you bet on the winner you would receive £8.40, a £10 winning bet returns £84.00
You cannot know for sure what the dividend will be until after the race and this is the fundamental difference between betting with a bookmaker (fixed odds betting) and betting with the Tote (pool betting). The Tote web site shows you approximate returns before the race but this can only be used as a rough guide. Because bookmakers and the Tote operate differently the odds can differ but neither method is consistently favoured by the discrepancy. It is generally considered to be the case that the Tote offers better value for big priced outsiders.
A key part of Tote betting is permutations. A permutation is simply placing multiple bets within one overall bet; the smaller bets are often referred to as ‘lines’. This involves putting more than one horse in any race that forms the bet.
For these bets, the total number of lines can be calculated by multiplying the number of horses selected in each race; for example a Placepot incorporating two horses in each race would be 64 bets (2x2x2x2x2x2).
Single Leg Betting
Win
A bet for a horse to win the race.
The Tote Win pool is operated on all races of 2 or more runners
Minimum unit stake is 1p.
Minimum total stake is 50p.
Permutation bets in units of 1p are accepted.
Pool deduction rate is 19.75%.
Place
A bet on a horse to come 1st, 2nd, 3rd or 4th.
The Tote Place pool is operated on all races of five or more runners.
The place terms are as follows,
1-4 runners No place betting
5-7 runners 1st or 2nd
8+ runners 1st, 2nd or 3rd
16+ runners (Handicaps) 1st, 2nd, 3rd or 4th
Minimum unit stake is 1p.
Minimum total stake is 50p.
Permutation bets in units of 1p are accepted.
Pool deduction rate is 20%
Exacta
The aim of this bet is to select two horses and for them to finish 1st and 2nd in the order selected.
This operates on all races of three or more runners.
Minimum permitted stakes and stake units apply. See the point of sale for details.
Pool deduction rate is 25%.
Quinella
The aim of this bet is to select two horses and for them to finish 1st and 2nd in either order.
This operates on races of three or more runners.
Minimum permitted stakes and stake units apply. See the point of sale for details.
Pool deduction rate is 25%.
Trifecta
The aim of this bet is to select three horses and for them to finish 1st, 2nd and 3rd in the order selected.
This operates on all races of three or more runners.
Minimum unit stake is 1p.
Minimum total stake is 50p.
Permutation bets in units of 1p are accepted.
Pool deduction rate is 25%.
Swinger
The aim of this bet is to select two horses to finish in the first three places in a race. You get a return for horses finishing 1st and 2nd, 1st and 3rd or 2nd and 3rd.
The Tote Swinger pool is operated on all races of 6 or more declared runners.
Minimum unit stake is 1p.
Minimum total stake is 50p.
Permutation bets in units of 1p are accepted.
Pool deduction rate is 30%.
Multiple Leg Betting
Placepot
Aim of the bet is to select a horse to be placed in each of the first six races at a meeting, unless otherwise stated.
The place terms are as follows,
1-4 runners No place betting
5-7 runners 1st or 2nd
8+ runners 1st, 2nd or 3rd
16+ runners (Handicaps) 1st, 2nd, 3rd or 4th
The Tote Placepot is operated on all British meetings and selected oversees meetings unless otherwise stated.
Minimum unit stake is 1p.
Minimum total stake is 50p.
Permutation bets in units of 1p are accepted.
Pool deduction rate is 27%.
Quadpot
Aim of the bet is to select a horse to be placed in each of races 3 to 6 at a meeting, unless otherwise stated.
The place terms are as follows,
1-4 runners No place betting
5-7 runners 1st or 2nd
8+ runners 1st, 2nd or 3rd
16+ runners (Handicaps) 1st, 2nd, 3rd or 4th
The Tote Placepot is operated on all British meetings and selected oversees meetings unless otherwise stated.
Minimum unit stake is 1p.
Minimum total stake is 50p.
Permutation bets in units of 1p are accepted.
Pool deduction rate is 26%.
Jackpot
Aim of the bet is to select the winning horse in each of six races across one or more meetings as nominated by Tote.
One Tote Jackpot pool will operate each day, unless otherwise stated.
Minimum unit stake is 1p.
Minimum total stake is 50p.
Permutation bets in units of 1p are accepted.
Pool deduction rate is 29%.