Peacelily
Well-Known Member
I'm just reading about it and don't think I completely "get it" if that makes sense - like what are the pro's and cons?
??
??
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Can somebody explain the Tote to me?
- Thread starter Peacelily
- Start date
wetzpretz
Well-Known Member
What is a tote?
Peacelily
Well-Known Member
its the betting system that all of our (UK) horse racing racing & most of the breedings draws most of it's funding from, so prize money, funding for breed improvement, security at events.....
I have gleamed that there's an attempt at privatisation of the Tote- but this could leave the racing industry high and dry with only 50% of current funding....with funding then likely to be unstable....
would just like a bit more insider knowledge to figure out if I've understood it all correctly....
I have gleamed that there's an attempt at privatisation of the Tote- but this could leave the racing industry high and dry with only 50% of current funding....with funding then likely to be unstable....
would just like a bit more insider knowledge to figure out if I've understood it all correctly....
lachlanandmarcus
Well-Known Member
Its a state owned (tho soon to be sold off) means of betting, which was established to provide a means of channelling funds back into racing in the days before bookmakers had to pay a betting levy on all bets and to provide legal off course betting (it used to be illegal).
They are a pool betting system ie all the bets added up minus contrib to racing charity are the win fund available. payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the Tote after the totalisator which calculates and displays bets already made.
It differs from bookmaker betting as(fixed-odds betting) in that the final payout is not determined until the pool is closed in fixed odds betting, the payout is agreed at the time the bet is sold. Hence bookmakers 'starting prices'
They are a pool betting system ie all the bets added up minus contrib to racing charity are the win fund available. payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the Tote after the totalisator which calculates and displays bets already made.
It differs from bookmaker betting as(fixed-odds betting) in that the final payout is not determined until the pool is closed in fixed odds betting, the payout is agreed at the time the bet is sold. Hence bookmakers 'starting prices'