What is Tote betting: a bet and a lottery in one
The Horse Totalizator Board, also known as the Tote, is the England-based bookmaker that provides the services of tote betting.
Tote betting is a specific type of betting which is available mostly to gamblers who fancy horse and greyhound racing. It has vast popularity mostly in the United Kingdom since that country has the oldest greyhound racing traditions. So, what exactly is tote betting? This is a kind of betting that can be placed with the Tote, which is a collective name for the operators who provide the tote betting services. Essentially, tote betting is synonymous to the parimutuel betting on the horse and greyhound races. It has a lot of similarities with the lottery since the bets in tote betting are not placed individually but in the special pools. The distinguishing feature of tote betting, which sets it apart from the usual odds betting, is that every stake is collected into a pool and then the winnings are shared among the participants in the pool. The amount of each individual winning depends on the number of players: the more players there are in the pool, the lesser will be the individual winning. However, the tote betting has many pros which will be described later. This is how the tote betting can be explained in short. Now let’s get into more detail about this unusual and really exciting way of betting on races.
The history of tote betting
Tote betting was founded in 1929 in England, in the city of Wigan, to be precise, and served as a substitute for the conventional odds betting which had no alternative at that time. You may find it amusing, but the tote betting was the creation of the British government that looked for ways to provide safe betting options for the gamblers and develop a counterbalance to the high street bookies that were not 100% reliable. Over the course of time, the tote betting gained wide popularity and, in 2011, the rights to conduct tote betting were sold to a private owner, namely BetFred, also known as the Tote. There are many other operators who offer the tote betting services, though they do through syndication with BetFred and are obliged to pass all bets to the Tote.
The types of tote betting and how to place bets with the Tote
The Tote, as well as all bookmakers associated with the Tote, offer the following types of pooled bets to gamblers who want to to try their luck at horse or greyhound racing: Win, Place, Exacta, Trifecta, Quadpot, Each-Way, PlacePot, Jackpot, Scoop 6, and Swinger.
Tote Win – the bet is placed on the horse or a greyhound that will presumably win the race.
Tote Place – this type of bet is applicable only when no less than 5 horses participate in the race. The gambler wins even if the horses come in the second, third or fourth place.
Each-Way – the combination of the previous two types of tote betting. The stake is divided between these two pools.
Tote Exacta – the player has to predict the order in which the horses will arrive at the finish line. There are three types of exacta bets: single, combination, and banker.
Trifecta – the gambler has to guess the order in which the first three horses will finish the race.
The Quadpot and Placepot Tote bets are rather similar: the players must pick a horse that will be placed in the third, fourth, and sixth race and in the first six races, respectively.
Tote Jackpot – the better has to guess six race winners in a row.
Scoop6 – the player still has to pick six winners correctly, though the races are picked by the Tote.
Swinger – the type of tote betting where the gambler has to guess the horses that will come “in the money” in all races held on the particular racing day.
Now that we have figured out the classification, allow us to give you a short tote betting guide.
If you live in the UK, you can visit the racing course and place your bet there at the bookmaker stand. All you have to do is pick your favorite horse (horses) or greyhound (greyhounds), check the numbers of your selection in the race card and then give this card to the bookmaker employee who will give you back the betting slip that contains your tote bets and the amount of stake. After that, you can enjoy the race and wait for the tote dividend announcement.
Since we live in the age of the Internet, you can also try tote betting online. Find the appropriate bookmaker that is affiliated with the Tote. On the home page, look for the “Tote” tab. Choose the race you would like to bet on in the drop-down box. Then pick the bet type (Win, Place and so on) and the runner and click “Place Bet”. Your bet will be automatically placed in a pool. Now all you have to do is follow the race online and hope that your favorite horse or greyhound will get you in the money.