Another form of betting is Tote, which we offer on various markets including USA and Australia. The term Tote is short for Totalisator. Tote betting is similar to a Lottery in that stakes are pooled. The pool operator's profits come from a fixed deduction taken from the pool. The winning bets are determined by the outcome of the race(s) that relate to the pool. The pool less the deduction is divided by the number of winning units to give a dividend.
Tote customers are betting into a common pool. Participants in the pool are betting against one another, whereas when placing a bet with a traditional bookmaker they are betting against the bookmaker. Tote odds may fluctuate according to the pattern of betting and the amount of money staked on each selection. Like the Lottery, Tote customers are hoping for a large pool and few winners to share the pool with.
Tote pools can relate to a single race (single leg pools) or multiple races (multi-leg pools). Betting ceases at the "off" of each race in a single race pool, or the "off" of the first race in a multi-leg pool.
What is Tote Betting?
Another form of betting is Tote, which we offer on various markets including USA and Australia. The term Tote is short for Totalisator. Tote betting is similar to a Lottery in that stakes are pooled. The pool operator's profits come from a fixed deduction taken from the pool. The winning bets are determined by the outcome of the race(s) that relate to the pool. The pool less the deduction is divided by the number of winning units to give a dividend.
Tote customers are betting into a common pool. Participants in the pool are betting against one another, whereas when placing a bet with a traditional bookmaker they are betting against the bookmaker. Tote odds may fluctuate according to the pattern of betting and the amount of money staked on each selection. Like the Lottery, Tote customers are hoping for a large pool and few winners to share the pool with.
Tote pools can relate to a single race (single leg pools) or multiple races (multi-leg pools). Betting ceases at the "off" of each race in a single race pool, or the "off" of the first race in a multi-leg pool.
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