Pool betting in the uk is run by The Tote. In other countries, many of which only operate pool betting, it may be called by other names in France the pool betting system is called Parimutuel. Also in some countries there is on-course pool betting and off course bookmaking.
For the purpose of this guide I will concentrate on the UK pool betting.
All the bets offered in pool betting run on the same principal, all bet revenue is placed in a pool and the winning returns are shared out from that pool.
Deductions are made from the pool to run the betting service and also some money is put back into running racing. Please note that the following information ignores the deductions but you should know that on course they have been taken before the winning returns are given. Also Tote returns are shown to a £1 stake wherefore a tote return of £6 for a winner is the equivalent of a fractional odds of 5/1. So if you bet £1 you would get back £6 if you bet £3 then you would get back £18
Tote returns are also calculated as a return that will include your stake and therefore show the total return that you would get. Tote returns are shown to a £1 stake.
Since this is pool betting it means that there is no starting price (SP) because the winnings (win dividend) calculation can not be finalized until all bets have stopped being taken, however an estimation on the return dividend is displayed at The Tote windows. This is a good guide to how much you can expect based on the betting revenue so far.
The types of bet available with pool betting
With win betting all the revenue that is paid into the win pool is shared between all the winning bets for that race.
For instance if there is £2000 worth of betting revenue in the "win pool" and there are 100 winning bets then each winner gets £20.
With place betting all the revenue that is paid into the place pool is shared between all the winning place bets for that race.
For place betting the following rules are applied: -
1. All races of 1.,2,3 or 4 runners there is no place return.
2. All races of 5, 6 and 7 runners - 2 places first and second
3. All other races of 8 to 15 runners - 3 places - 1st 2nd and 3rd
4. All races of 16 or more runners - 4 places 1st, 2nd, 3rd and 4th
As with other each-way bets this is two bets, a win bet and a place bet. If your selection wins the race then you get the win return and also the place return. If your selection is placed you only collect the place returns.
This is the equivalent of a forecast bet. A £4 Straight Exacta on horses 2 and 5 means that horse 2 must come home first and horse 5 must come in second for you to win.
The Tote Trio involves you selecting the 1st, 2nd and 3rd horses home in any order. This bet is available with the Tote on all races with 8 or more declared runners
In Placepot bets you must select a placed horse in all 6 Placepot races at your selected meeting. Placepot races are always races 1 - 6 unless otherwise stated again all placepot money is pooled and the amount of return depends on how many people win the bet.
In a Jackpot as you have to pick the winner of 6 races. The Jackpot races are always races 1 - 6 unless otherwise stated. This bet again if from a pool. Your should note that this is usually only at one meeting a day and not at all meetings with the placepot.
The Tote Scoop6 is know as the Saturday "TV" bet. It takes place every Saturday and it requires you to select six winners from six races that have been nominated in advance by the Tote.
Well there you have the main pool bets available in the uk.
