Horse racing journalist and handicapper who covered the Kentucky Derby, Preakness, Belmont and Breeders’ Cup for the Las Vegas Review-Journal.
HORSE BETTING GUIDE · BET TYPES
Reviewed by the Horse.bet Team
What is the ‘Tote’ betting in horse racing? — explained: In parimutuel horse gambling, the Tote is the computer system that calculates and displays the odds on each horse and then determines the payouts after the race is
In parimutuel horse gambling, the Tote is the computer system that calculates and displays the odds on each horse and then determines the payouts after the race is declared official.
The name Tote is derived from the Horserace Totalisator Board, an ingenious contraption that first debuted in the U.K. at the Newmarket and Carlisle racetracks in 1929. It could – and still can -- calculate the payoffs in multiple wagering pools within a minute or two, then authorize payment for winning tickets.
Originally, the system just had to spit out win, place and show payouts, but as bettors’ tastes shifted more toward so-called “exotic” wagering , the computations got more complicated. Today the equipment may have to figure payouts for 20 separate pools after accounting for scratches and other variables.
There are other types of betting on horse racing that don’t use the Tote formula, such as “ fixed odds ” (similar to sports betting) and “exchange” (like a stock market), that are popular in the U.K. and the EU, but not so much in the USA. That may be starting to change. You can register a Tote.co.uk account and try tote betting with a new customer offer .
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Promo Code 365GMBLR · 18+ · New customers only. Min deposit requirement. Free Bets are paid as Bet Credits and are available for use upon settlement of bets to value of qualifying deposit. Min odds, bet and payment method exclusions apply. Returns exclude Bet Credits stake. Time limits and T&Cs apply. #ad · GambleAware.org
Significant terms
Available to new customers only. Make a qualifying deposit of £5* or more and claim the offer within 30 days of registering your account to qualify for 300% of that amount in Bet Credits, up to a maximum of £30* in Bet Credits. Once released, your Bet Credits will be held in your account balance and are non-withdrawable. To release your Bet Credits for use, you must place qualifying bets to the value of your qualifying deposit (capped at £10*) and they must settle within 30 days of claiming the offer. Only qualifying bets placed and settled after claiming the offer will count towards this requirement. PayPal, paysafecard and all other prepaid credit and debit cards, where available, cannot be used for either your qualifying deposit or any subsequent withdrawal of returns from Bet Credits stakes unless we have successfully verified an accepted form of your Identity Documents and you have entered a Postal Verification Code (PVC), or we have successfully verified two accepted forms of your Identity Documents. See condition 2 of full Terms and Conditions for details. Bets placed must meet certain conditions to count towards the release of your Bet Credits: Must contain at least one selection at odds of 1/5 (1.20) or greater. Only the largest cumulative stake on an individual selection within a market/fixture combination (either pre-match or In-Play) will count towards the settled bets requirement. Cashed Out, Instant Games, Gaming, Free Bets, void bets, In-Play bets which are settled as a push or Fantasy Sports entries will not count. Your Bet Credits are non-withdrawable, and Bet Credits stakes are not included in any returns. Any returns from Bet Credits placed will be added to your Withdrawable Balance. Bet Credits cannot be used on certain products, offers/promotions and bet types. See full Terms and Conditions for details. Your Bet Credits will expire 7 days after they are added to your Bet Credits balance.
Bet responsibly. Only bet where it is legal and you are of legal age. 21+. Gambling problem? Call 1-800-GAMBLER.18+. Need help? GamCare 0808 8020 133 · GambleAware.org.Need help? Contact your local gambling support service.
