![]() ![]() Using pooled betting to wager on a clear favourite is unlikely to yield high payouts because many other people will be doing the same – although you will usually get similar to returns to a regular fixed odds bet – but if you can spot a winner that not many other bettors have found, you could sweep in and take the pot. The bookmaker cannot lose, in theory at least, because they will never be forced to pay out more than they take in. Race Totalġ0000 divided by 1500 is 6.66, so if someone bet £10 on the winner in this race they would get back £66.60, whereas someone who only bet £1 would get back £6.60. Winnings are worked out by dividing the total amount bet on the the race by the total bet on the winner, giving us a return per £1bet, so everyone is paid out fairly and in relation to the amount they staked. The pool is the total stakes placed on the event on all runners, less the bookmakers deductions, – i.e their margin. Probability dictates that returns are broadly in line with “normal” odds but this is not always the case and they can sometimes be significantly bigger.Īs you will be taking money from a pool and are unlikely to be the only winner, the money dished out will be divided by the number of people who have backed the winner. Odds and prices are determined, ultimately, by how much money is wagered in total and how much is bet on the winning selection. Betting on the Tote involves all punters putting their stake into a pool of money which is then split between the winners. Tote betting, also sometimes called pool betting or pari-mutuel wagering is very different to your normal way of placing bets on sports. After being sold to Betfred in 2011, Tote underwent another big change with their shops all being re branded and their high street presence gone, before in 2019, the iconic bookie was then sold again, this time to UK Tote Group, formerly Alizeti Capital. Like all traditional UK bookmakers though, they moved with the times and developed their online presence in the early 2000s. Under the brand name Totesport, which was instantly recognisable among punters and seen as something of a British institution, the Tote had over 500 high street betting shops at its peak around the turn of the century.įor a long time the Tote was perhaps best known by racing fans for the many outlets they operated at virtually all of Britain’s racecourses, the company was synonymous with horse racing and they long stayed true to their origins. The company has changed purpose, structure, and ownership many times over the years, growing bigger and bigger as time went on. Betting on horseracing changed for the better in 1928 when the Racecourse Betting Act was passed in parliament, allowing pari-mutuel betting to take place at racecourses around the country. The Tote started out as a way for the government to earn money from legal betting and also to keep monies generated from such activities within the sport. The company was set up all the way back in 1928 by the UK Government in an effort to control illegal black market gambling, with none other than Sir Winston Churchill being instrumental in its formation. The Tote, formerly known as the Horserace Totalisator Board, was one of the most recognised betting organisations in the world in its heyday. ![]()
0 Comments
Leave a Reply. |