How are Tote bets calculated?

The Tote essentially works in a similar way to the lottery. Punters pick their horses and put their money into a cumulative pool – everyone with a winning ticket shares a percentage of the pot. If fewer people backed your horse, you will get a greater share if it wins.

How is Tote calculated?

Tote betting is when all bets placed on an event or race is placed into a pool. The odds of a individual runner is calculated by the dividing the total pool (all wagers on all runners) minus any amount the house takes, divided by the amount wagered on that runner.

What percentage does the Tote take?

How is the Tote Placepot prize pool calculated and shared? A deduction of 27% is taken from the total pool, then the remaining 73% is divided among the winners. For example, if the pool is £100,000, the deduction will be £27,000.

What is fixed win and Tote win?

Fixed-odds bookmakers set their own prices so the odds on offer will reflect the opinion of the odds compilers around the race rather than where punters’ money is going. Secondly, Tote Win bets are always paid out at the Tote Win dividend assigned to the winning horse at the start of the race.

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Is tote or fixed better?

Since the payouts in totes bets are an approximation that gets better as the race draws nearer, it’s often worth waiting before placing your bet. In contrast, if you really want to back the favourite, perhaps fixed odds are the best way to go (so you avoid your winnings being diluted as more people make the same bet).

Is Placepot a good bet?

It is not only the payouts that make the Placepot a great bet. If you’re looking to enjoy a day of racing, the Placepot can keep you entertained all afternoon. … Tote Placepot provides a betting interest in the first six races on a card and for a small stake, you can land a share of big Placepot fund dividends.

What is a Tote price?

It stands for Top Fluctuation and is offered by the likes of BetEasy and Sportsbet. You get the best tote price from all the official on-course bookmakers, which provides you with some security.

How much is a $10 Win Place Show bet?

If you place a $10 each-way bet with a place and show bet, you will end up paying $20 ($10 is allocated to the place bet, while another $10 is allocated to the show bet). Your selected horse merely needs to finish second to win both bets or finish in third to win half of your bet.

How much do you win on a place bet?

Place payoffs typically pay between $3.00 and $10.00, but can pay more with longshots and less with overwhelming favorites. Since the money you win in a place bet is generated by all of the money bet on the losing horses, the more horses in the race the greater your chances for a larger place payoff.

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How are bet payouts calculated?

Calculating the Payouts for the Win Place Show Bets

  1. From that odds ratio, you take the first number and multiply it by 2 (remember, if the odds is a whole number, place that over a 1 – for example, 7 would be 7/1)
  2. You take that number and divide it by the second number of the odds ratio.
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