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Tote pool, or pari-mutuel betting, is a betting format that consolidates all stakes on a specific event into a common pool and distributes winnings based on the total amount of money wagered on the winning outcome. The term “tote” is derived from the Totalisator, a system that computes and distributes the pool among the winning players.
When you place a bet on a tote pool betting site, your stake is added to the pool, and your potential payout is calculated based on the size of the pool and the number of winning tickets. This means that the odds can change until the event starts, depending on how much money is placed on each possible outcome.
Tote pool betting is available at specialist tote betting sites, as well as through several online bookmakers. On these sites players can choose from various betting options, including win, place, and each-way bets, as well as special promotions and bonuses for both new and existing customers.
Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of qualifying bets. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply.
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William Hill is known for its extensive selection of extra places, featured in selected race meetings each week. In addition, they provide a top price guarantee on specific races.
While they no longer offer Best Odds Guaranteed (BOG), William Hill is notable for its willingness to accept larger bets at extra place terms, which is beneficial for bettors.
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Tote pool offers a lottery style form of betting with potentially high payouts, but it comes with uncertainty and other disadvantages.
Tote pool betting can offer larger payouts than fixed-odds betting. Since the winnings are based on the total pool of bets, a big win by an unpopular horse or outcome can lead to a big payout.
Tote pool betting can be more social and interactive than fixed-odds betting. Bettors can discuss and analyse the different outcomes and make informed decisions together.
There are generally no limits on the amount of money that can be bet on the tote pool, which can be an advantage for people who want to place larger bets.
Tote pool payouts can be unpredictable because the odds are determined by the total amount of bets placed and the number of winners. This means that it can be challenging to estimate how much you might win, and the payouts can be lower than expected.
Because the odds in tote pool are determined by the total amount of bets placed, there is a potential for manipulation. This can happen when large bets are placed by a group of people, which can skew the odds in their favor.
Tote pool generally offers a limited range of bets, which can be a disadvantage for people who want to place more specific bets.
