Key Points
- What is the Tote and how is it different to any other bookmaker?
- What is pool betting and what does the Tote look like?
- How does the Tote support British and Irish horse racing?
In this article, I’ll be explaining
how the Tote works. If you are a more experienced punter, this article may be covering familiar ground for you. That said, you may still learn something new! However, this is predominately aimed at those who have little to no experience with, or understanding of, the Tote.
If you’re new to my articles, I’m RacingGav and I’m the resident horse racing tipster at Betting.co.uk. Whilst I am a tipster providing both daily betting tips and antepost betting tips, I also produce other types of content including big race trends. Finally, I have already published a series of guides on all aspects of racing which range from
betting fundamentals
to understanding the impact of track bias, and they are all well worth a look.
The Tote has a fantastic offer for new customers!
Before we dive into my guide on understanding the Tote, I just want to highlight the great sign up offer that the Tote have for first time customers. If you sign up and bet £10, you’ll get £40 in free bets. That is superb value and well worth considering if you’d like to try your hand at some pool betting!
The Tote has been established for nearly 100 years!
After the first world war, horse racing and betting on it grew in popularity. However, more and more people were turning to unlicensed bookmakers (think Peaky Blinders!) rather than the official bookmakers who operated on the racetracks. As I type this, I cannot help but think of the modern era as the same is happening now… albeit that is more related to the affordability checks and that’s another debate for another day!
With backing from Winston Churchill, the Tote was formed in 1928 with the intention of helping to regulate betting, make it a safer place for the punter and also for a portion of the money to feed back into the industry itself.
What is the Tote and how is it different to any other bookmaker?
Betting on the Tote and betting with a bookmaker are two very different propositions. To start with, bookmakers operate fixed odds betting markets and therefore, the price you take is the price you take regardless of what happens (with the exception of Rule 4 deductions). If you have your tenner on at 5/1, you’ll get paid at 5/1 if your horse wins. That’s regardless of what happens to the horse’s price between you placing the bet and the race starting. So if your horse subsequently goes off 2/1 favourite, you’ll still get paid at 5/1.
The Tote instead operates in a
pool betting structure. All of the money bet on that specific race is put together and then the money is shared between those who backed the winner, less the Tote’s commission. Therefore, if a lot of people back the same horse as you, you’ll be paid out less. However, if less people back the same horse as you, you’ll be paid out more. If you’re backing a horse near the off, it is worth remembering the Tote Guarantee. They will always pay at least the SP for Win bets placed through the Tote. However, if the Tote dividend is higher, they’ll pay out that price.
What is pool betting and what does the Tote look like?
With traditional bookmakers, you will typically either back your horse to win or you will back it each way i.e. to win and to place. It is very much the same on the Tote but they also have a third option which is simply to place. To confirm, there are options for
Win,
Each Way
and
Place.
As well as these run of the mill bets, they also have some more complex and exciting bets: -
- Exacta
- Pick the horses to finish first and second in order
- Trifecta
- Pick the horses to finish first, second and third in order
- Swinger
- The same as a Trifecta but the first three can be in any order
- Placepot
- Pick a horse in each of the first six races at a meeting you think will place
- Quadpot
- Pick a horse in races three to six at that meeting you think will place
- Jackpot
- From a list of chosen races, pick out all six winners.
- Scoop6
- Pick six winners from various ‘Scoop6’ race meetings on Friday or Saturday
These bets take a little more understanding but they can produce some hefty winnings if you can get them right! Something like the Placepot is also great as it can also give you some entertainment across six races with very little monetary involvement. Your fun may end in either the first or second race but if it does, you can always get back in on the Quadpot!
Like with standard bets on the Tote, all of these more complex bets run under the same logic i.e. a central pot divided by the winners. As a result, how you play something like the Placepot can greatly impact your returns. For example, if you put all of the favourites in, you're more likely to have a winning ticket but so are plenty of others and therefore if you win, it’ll be a smaller dividend. However, if you opt for outsiders and manage to get it right, you can win big as you’re going to be sharing the pot with less winners.
Does the Tote support British and Irish horse racing?
The simple answer is yes! The bookmakers pay a 10% levy on their gross profits from horse racing called the Horserace Betting Levy. The Tote pays the same levy as the bookmakers do, with those funds being reinvested into the sport. Therefore every bet placed with the Tote is helping to fund the sport we all love!
As well as the Levy payment, the Tote helps racing in other ways such as charitable donations and race sponsorships. They also support the Racehorse Owners Association Sponsorship Scheme with over 1,800 ROA members having horses in the scheme and carrying the Tote logo on their silks.
Is it worthwhile betting on the Tote?
As always, there are pros and cons. When it comes to the Tote, it depends on the type of punter you are, and what betting options you have available.
If you tend to any of these things, the Tote is likely to offer little to no benefit:
- Back favourites
- Place your bets the night before/early in the morning
- Use BOG (Best Odds Guaranteed)
If your horse sees a lot of market support, you’ll end up with a very small dividend, likely even less than the original price. However, for those that like to bet at bigger prices on horses that will be less popular in the market, there is a good chance that the Tote will ultimately pay you out a better price than the bookmakers.
It is also worth remembering the Tote Guarantee where they guarantee that they will match the SP of the winning horse or pay their dividend, whichever the greater. This makes betting with the Tote very appealing for punters who like to bet close to the race time.
One key area that the Tote also tends to offer beneficial results over the traditional bookmakers is for Forecast and Tricast betting. As a general rule, Exacta and Trifecta payouts tend to be higher on the Tote than the bookmaker payouts. This is not a guarantee but the majority will be.
Will you give the Tote a chance?
As you can see, there is a time and a place to use both the Tote and the bookmakers. The Tote does have a fantastic sign up offer (Bet £10, get £40) in place, which is worth taking advantage of. There’s also the availability of the Tote’s specials like the Placepot, Quadpot and Scoop6, which many casual punters are likely to enjoy. So, while the Tote has plenty in its favour, I wouldn’t exclusively bet there, but it’s certainly a weapon you should have in your arsenal.
Lets not forget the bookmakers!
Whilst it’s well worth opening an account with the Tote, especially with the superb new customer offer, there are many bookmakers with fantastic offers of their own. Below you can see some of the best available in the market at this time. If you do not have an account with these bookmakers already, it’s well worth looking into and capitalising on the value on offer.
1.
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2.
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3.
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4.
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Bet £10 Get £40 in Free Bets
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