What is tote betting and how to bet with the Tote
The United Kingdom can be rightfully considered the birthplace of modern horse and greyhound racing. It was not a sport but also a spectacle for aristocrats and other representatives of noble society. The history of horse racing in Europe dates back to the 15th century. Perhaps it was also a time when spectators began betting on the outcome of a race. Over the years, the horse betting developed into an independent industry, the popularity of which grew proportionally to the accessibility of horse and greyhound racing to the general public. Nowadays, such races are not only a source of entertainment but also an opportunity to have an occasional winning or a mean for creating a scheme for steady additional income. There are many types of betting offered by the bookmakers all over the world. However, there is one kind of horse race betting which is inherent only to the United Kingdom. It is called the tote betting.
Tote betting: definition, history, and traditions
So, what is tote betting? In official terms, tote betting, also known as the parimutuel betting, is the type of betting that is conceptually similar to a lottery. Tote betting has always been associated with horse racing. Unlike the conventional odds betting, where gamblers place an individual stake on a particular horse or greyhound, betting with the Tote is characterized by the unification of stakes into a special pool, just like lottery players do when they want to increase their chances of hitting the jackpot. And just like with the lottery, the winning in tote betting are divided proportionally among all participants in the betting pool. The amount of potential winning is in direct correlation with the size of the pool. Therefore, playing in large pools provides more chances of winning but considerably smaller profit.
The Tote is the bookmaker that has the exclusive rights to provide tote betting services on the territory of the United Kingdom. Although there are many providers of tote sport betting services in the UK, as well as all over the world, they are all affiliated with the official Tote. In essence, it is a monopoly since all such provider are obliged to run all bets on horse and greyhound racing through the Tote.
The history of tote betting dates back to 1929 when it was first introduced in Wigan. Tote betting can be called a governmental project because it was created by the state authorities as an alternative to high street bookmakers that had fiercely resisted any regulations. Unlike many other governmental initiatives, tote betting gained vast popularity among the general population as its volumes grew exponentially. In 2011, the rights to conduct tote betting were transferred to the private entity, namely BetFred, the bookmaker that is called the Tote in the gambling circles. Hopefully, this answers the question of what is tote betting. Now, we would like to give you a brief explanation of the mechanics of tote betting.
A short tote betting guide
Despite the fact that the concept of tote betting is rather simple, you would still need to have some knowledge about the types of tote betting in order to bet successfully. So, here is tote betting explained.
If you are lucky to live in the UK, you can attend the horse racing course and place a bet at the Tote bookmaker counter. The minimum bet is only 2 pounds. Pick the horse or the greyhound you wish to put your stake on and check its number on your race card. Then give this card and your stake to a tote person at the counter and tell him or her which type of tote bet you would like to place. There are ten variations of tote bets:
Win (when you place the bet on the winner of the race);
Place (you have to guess the place in which the horse of your choosing will finish the race);
Each-Way (a combination of Win and Place bets);
Exacta, the gambler has to specify correctly in which order the horses will arrive at the finish line;
Trifecta, same as the previous bet, only in Trifecta the player must guess only the first three horses or greyhounds.
Quadpot, the punter must select a horse that will be placed in the third, fourth, fifth, and sixth race.
Placepot, similar to the previous bet, only the gambler has to correctly name the placeholder in the first six races.
Jackpot and Scoop6, in order to win, the punter’s betting slip must contain the number of all six race winners.
Swinger, the toughest of all tote bets where the gambler has to guess all winners of the particular racing day.
If you live in another country or simply don’t want to travel, you can always do tote betting online. It may not be as enjoyable, because you can’t watch the races live, but the online tote betting is no less profitable. All you have to do is find a website that provides tote sport betting services and click on the “Tote” tab. Then choose any of the above-mentioned tote bets, indicate your stake and press “Place Bet”. Now all you have to do is keep your fingers crossed and hope that your horse would get you in the money.