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What is Tote Betting? – An Alternative Way to Bet on Horse Racing
Author: Neha Agrawal
Anybody that has ever placed a wager down on the horses will have no doubt come across
. The vast majority of
inexperienced horse race bettors
will always prefer to go with the standard bookies odds, but with Tote betting there is a completely alternative way to win, and possibly win big with horse racing.
Firstly, one must know what Tote is. Basically,
is only bookies in Britain that is entitled to offer syndicated
horse race betting
. Whilst many bookies have a fixed payout rate, according to the odds established prior to the race,
are paid out from a pool, so there is now sure way of knowing what you have won before the race concludes.
Basically put; all the money that is staked on a particular
type of tote gambling
is accumulated into one large pot. At the conclusion of a horse race, all of the money that was placed in is divided amongst those players who had a winning bet, minus a small commission for the Tote organiser of course.
In this way, Tote betting is very much like a lottery, in that everybody puts in their part of the jackpot, and that only the winners get a share of the eventual pot.
can be made from several types of wagers, including Tote Scoop 6, Tote Placepot, Tote Jackpot, Tote Quadpot, Tote Win, Tote Place, Tote Swinger and Totes Exacta and Trifecta.
Unlike regular bookmakers which offer single bets, Tote bookmakers offer
. betting on the tote are often cited as being far simpler to make than regular bookies bets – certainly when it concerns first time
horse racing bettors
All a player must do when
placing a Tote bet
is to pick one of the aforementioned bets and of course, the horse that the bet will apply to. Then simply hand over their wager to the Tote bookkeeper, and wait for the result to come in. If they are successful, they will win an initially unspecified share of the pooled jackpot.
Tote betting pools
are considered advantageous by many, precisely because they do not specify exactly how much is in the pot. A Tote pooled jackpot could consist of anything from thousands to tens of thousands or even hundreds of thousands of pounds; and is generally available for all major horse racing events in the United Kingdom, and at many horse racing books online.