Tote Betting

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Tote bets differ somewhat from the more traditional bets placed with a bookmaker. Rather than the bookmaker calculating the probability of each competitor winning a race and then offering you an odds price, a tote bet places you into a pool with other punters where all the wagered money is combined and then shared amongst the winners – much like a lottery or jackpot type competition – and the odds prices are determined by the number of participants that back the selection. The general rule is: the more people that enter in the pool, the lesser the percentage of the overall winnings you receive if you are successful.
Due to the widespread appeal of tote betting in horse racing, all the top betting sites offer you the chance to enter into pool bets even if they don’t offer similar services for other sports. Additionally, they will almost always operate separate pools for straight and exotic wagers.

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