What is a Tote Bet? – Tote Betting Explained

A Tote bet is a type of pari-mutuel betting wager popular with punters gambling both on and off course at horse racing venues. In this complete guide, we explain exactly how these types of bet work, the different types available and even give you some useful betting strategies.

How Does Tote Betting Work?

When you place a Tote bet, it’s different to normal fixed odds wagers found with regular bookmakers. The Tote has run pool betting in the UK for almost a century after Winston Churchill helped establish it in 1928.

When you place a bet on a horse race at the Tote, your money goes into a cumulative pool. When the race finishes, everyone that has bet on the winner will receive a share from that pool, based upon the level of their stake. There is no need for the Tote to set any horse racing betting odds for the races.

Your winnings are determined by how many people have backed the successful horse. The more people that back the horse, the less the winnings, as the pool has to be split across a wide number of punters. If not bettors back the winning horse, then the winnings will be larger, as the pool is split between few people.

Let’s give you an example. Take a look at the race below and we’re going to place a simple win bet.

There are six runners. The Tote minimum bet on a horse to win is £2 and the figure that you can see next to each horse is the likely winnings, based on that stake.

So, if we place a £2 bet on the favourite Sadie Baby, we will win £3. That equates to regular fixed odds of 6/4.

If Sadie Baby wins, we could receive more or less then those quoted winnings, based on how much is actually bet on the pool and the final number of punters that have bet on the winner.

The Tote takes a percentage margin from the market as their profit and the rest is split between the bettors that have backed the winner.

Different Types of Tote Betting Explained

Now that we have explained the Tote betting meaning, it’s time to look at the different types of Tote wager that you can place.

The most simple bets at the Tote are Win and Place. We’ve shown you how a Win bet works in the previous example.

A Place bet works in much the same way. All horse races have place terms, based on the number of runners. You bet on a horse to finish in the places for the race, which could be the first two, first three or first four.

With a fixed odds Place bet, bookies base payouts on a fraction of outright odds. A Tote Place bet once again sees all the money go into a cumulative pool, which is split between all the winners.

There will be more winners in the place market than if betting on the horse to win. For that reason, dividends split more ways reducing the size of the payouts.

What is a Tote Exotic Bet?

Exotic betting is possible through the Tote. There are a number of different options which involve multiple horses, either in a single race or different races.

Here are the exotic wagers that you can enjoy a the Tote. Read on to discover how they work.

• Tote Exacta
• Tote Trifecta
• Tote Swinger
• Tote Placepot
• Tote Quadpot
• Tote Jackpot

What is a Tote Exacta Bet?

With an Exacta, you bet on two horses to finish first and second in the race. In traditional betting this is called a Forecast and it works in the same way at the Tote. A Straight Exacta tasks you with betting on the winner of the race and the horse that finishes second, in the exact order.

With a Reverse Exacta, this covers the two horses to finish first or second in either order, at double the stakes. Then there is a Combination Exacta, where you can pick three or more horses in different permutations, to finish in the top two places.

What is a Tote Trifecta Bet?

A Trifecta works in exactly the same way as an Exacta, except that you have to predict the first three in the race. Again, with a Straight Trifecta you are picking out the first three finishers in the correct order.

Reverse Trifectas deal with the same three selections, but in any order. A Combination Trifecta covers you for different permutations, for more than three horses.

Tote Swinger Bet

A Swinger bet at the Tote is a good alternative to an Exacta. You pick out two horses and both have to finish within any of the first three places in the race.

Minimum stakes for this bet are 50p. Again, there is an option of making this a combination bet. You can pick more than two horses and pay for however many different permutations there are, based on the number of selections.

What is a Tote Placepot Bet?

This bet is available for every UK and Irish racing meeting. You pick out a horse from each of the first six races of the day and they all have to place for you to win.

If you wish, you can pick out more than six horses from a race meeting, creating a combination bet with many permutations.

Tote Quadpot

A Quadpot is similar to a Placepot, but slightly easier to win. With this bet you just need to pick out four horses that will place at a meeting.

The races are always the third, fourth, fifth and sixth of the day. If you find that the first and second races on today’s racecards are tough to predict, then that might be a day when placing a Quadpot makes more sense.

Tote Jackpot

For a more difficult version of a Placepot, go for a Tote Jackpot. You must pick out the winner from each of the first six races from a meeting.

Each day, a different meeting is designated as the Tote jackpot meeting. It’s obviously a hard bet to win, but you can improve your chances by picking multiple selections from different races. There are some big jackpots available.

How Do I Put a Tote Bet on?

Let’s take you through the steps that you need to follow to sign up with the Tote and place a bet. This guide shows you how to access the welcome offer and enjoy some free Tote Credit.

1. Visit the Tote website

Go to the Tote website. On the top right of the screen is a white Join button. Click on it to start the registration process.

2. Register

A registration form will appear. Add your email address and select a password. Then enter some personal details and agree to the terms and conditions.

3. Add Funds

Now go to the banking section to add some funds. Choose a payment method, enter the details and decide on how much you want to add.

The minimum is £5, but you need to place a £10 qualifying bet to access the Tote Credit. So, if that interests you, you’ll need to deposit at least £10.

4. Place a Bet

With money in your account you can place your first bet. Click on the race that you want to bet on and select a horse by clicking on either the win or place box. This will add it to your bet slip and you can enter the stake and confirm the bet.

If you want to take advantage of the welcome offer, you must place a bet of at least £10 on racing pool bets. Once the bet settles, you will receive £30 in Tote Credit and 20 free spins.

Pros & Cons of Tote Online Betting

No exploration of the Tote bet meaning would be complete without an examination of the pros and cons. Here are the advantages and disadvantages of placing these type of bets on horse racing as we see them:

How to Bet on the Tote Effectively

Before you rush off to place a Tote bet, take a look at these strategies which will help you to be profitable.

1. Start With Fun Bets Before Getting Serious

All bets available to you through the Tote have small minimum stakes. If this is a new form of betting for you, start with small stakes and learn how it works, before taking it more seriously with larger stakes.

Bets such as Placepots and the Tote Jackpot are a bit of fun that give you an interest in multiple races, with the chance of winning big from a small outlay. Don’t take them too seriously in terms of staking.

2. Make the Most of Tote Credit and Extras

When you sign up with the Tote, you have the chance to earn some Tote Credit when you make a qualifying bet. You get £30 in total, or which £20 is for betting on horses and £10 is for sports bets.

It’s a great way that helps you understand this form of betting, then, and how it works. You can also get regular Tote Credit from the Loyalty Club.

3. Use the Tote For Backing Outsiders

The Tote Guarantee makes them a great alternative to using a regular horse racing betting site, because it means you receive the Staring Price. If the SP is bigger than their dividend on win bets, the Tote will pay out at that level.

With outsiders, you’ll find that the payouts tend to be bigger at the Tote than the average price at a normal bookie. So, if you spot an outsider that you like the look of, or see a recommendation here at Racing Tipster, make sure you back it with the Tote to gain some extra value.

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