Placing a wager on a horse racing event can be a fun endeavour. Among the numerous bet types available, the Tote Placepot stands out as a popular choice among many seasoned and novice punters alike.
Here at Wizard Slots, we will delve deeper into the concept of a Tote Placepot bet, its rules, and how it works.
What Is a Placepot Bet?
A Tote Placepot is a type of pool bet, widely recognised in the UK and Ireland's horse racing circuit. The allure of this bet lies in its potential to yield substantial payouts from relatively small stakes, without the requirement of picking a race winner.
The Placepot bet involves choosing a horse that places in the first six races at a particular meeting. Bettors place their stake into a pool, which is then divided among the winners.
With an average dividend of £407 to a £1 stake, the Placepot offers an avenue to potentially win big off modest stakes.
How Does a Tote Placepot Work?
If you place a Tote Placepot bet, you'll need to select a horse that places in each of the first six races at a specific meeting.
You can choose one or more horses per race, creating multiple "lines". Remember, the more lines you have per race, the higher your stake will be, as the total stake is calculated per line.
For instance, if you choose two horses each in six races, and your stake per line is 20p, your total bet would be 2 x 2 x 2 x 2 x 2 x 2 x 0.2 = £12.80. This calculation is known as the Placepot "multiple lines" formula.
Tote Placepot Rules
In a Tote Placepot, the number of places on offer depends on the number of runners in a race. For races with up to 4 runners, only the winner counts as a place. For races with 5-7 runners, first and second places can be paid. If there are 8 or more runners, the first three places are paid. For handicaps with 16 and over runners, the first four places are paid.
One important thing to note is that the Placepot operates under the Tote pool betting system. All bets are placed into a pool, from which a deduction of 27% is taken. The remaining 73% is then divided among the winners.
Do All Horses Have To Win In a Placepot?
Contrary to what some might believe, not all horses need to take first place in a Placepot bet. Instead, the selected horse must "place" in each of the first six races, the definition of which varies based on the number of runners in each race. This unique feature of the Placepot bet may enhance its appeal, as it allows for potentially substantial returns even without picking the outright winner in any race.
Tote Placepot Payout Explained
The payout for a Tote Placepot bet hinges on the size of the pool and the number of winning lines. If fewer favourites place in the races, the dividend usually increases as there are fewer winning tickets to share the pot. The winning dividend is declared to a £1 stake, so any actual winnings will depend on your stake per line and the number of winning lines you have.
Is Placepot a Good Bet?
A Placepot can indeed be a profitable bet if you have a good run. It offers an interest in numerous races for a modest stake and is more feasible than win bets since you don't need your horse to win every race. As the Tote provides Placepot guarantees on prize money, it is a popular betting choice for many punters.
However, whether or not it is a good bet ultimately comes down to personal preference.
Tote Placepot FAQs
Navigating the world of Tote Placepot betting can sometimes be a complex task. Here are answers to some frequently asked questions to make your betting experience smoother:
What Happens If There’s a Non-Runner In a Placepot?
If your selected horse becomes a non-runner, your stake will automatically go on the starting price favourite. If there are joint favourites, your stake will be assigned to the horse with the lower racecard number.
What Is a Joint Favourite In a Placepot?
A joint favourite refers to a situation where two or more horses share the lowest odds in a race. If this happens, and you've chosen the unnamed favourite as your selection, your stake will be placed on the horse with the lowest racecard number.
How Do You Calculate Placepot Winnings?
Calculating Placepot winnings involves multiplying your stake per line by the number of winning lines. Your winnings will then be either that percentage of the published £1-stake winnings or a multiple of the published dividend.
How Many Places Are In a Tote Placepot?
The number of places in a Tote Placepot depends on the number of runners in each race. For up to 4 runners, only the winner counts as a place. For 5-7 runners, first and second places are paid. If there are 8 or more runners, the first three places are paid. For handicaps with 16 and over runners, the first four places are paid.
By understanding the dynamics of a Tote Placepot bet, you can potentially enhance your betting experience. With its unique structure and the potential for high returns, the Placepot bet offers an entertaining horse racing betting experience.
*All values (Bet Levels, Maximum Wins etc.) mentioned in relation to these games are subject to change at any time. Game features mentioned may not be available in some jurisdictions.