Tote Bets
Totebets Introduction to Tote Betting
'Tote' is short for Totalisator. Tote Betting is similar to a Lottery in that stakes are pooled. The pool operator's profits come from a fixed deduction taken from the pool. The winning bets are determined by the outcome of the race(s) that relate to the pool. The pool less the deduction is divided by the number of winning units to give a dividend.
Tote customers are betting into a common pool. Participants in the pool are betting against one another, whereas when placing a bet with a traditional bookmaker they are betting against the bookmaker. Tote odds may fluctuate according to the pattern of betting and the amount of money staked on each selection. Like the Lottery, Tote customers are hoping for a large pool and few winners to share the pool with.
Tote pools can relate to a single race (single leg pools) or multiple races (multi-leg pools). Betting ceases at the "off" of each race in a single race pool, or the "off" of the first race in a multi-leg pool.
Introduction to GB Tote
The Horserace Totalisator Board, more commonly known as The Tote (GB Tote) is a British bookmaker. The Tote has over 500 betting shops and outlets on every racecourse in Great Britain. It is the only organisation in Great Britain licensed to run pooled betting for horseracing.
Tote Bet Types
totewin - win bet
toteplace - place bet
toteswinger - two horses to finish 1st, 2nd or 3rd
toteexacta - 1st and 2nd horse in the correct order
totetrifecta - three horses to finish 1st, 2nd and 3rd
toteplacepot - first six races at a race meeting
totequadpot - four consecutive races at a race meeting
totescoop6 - bet on 6 live channel 4 races (Saturday's)
totesuper7 - seven races selected by GB Tote
totejackpot - first six races at a selected meeting
