The Tote Jackpot, simply put, is a bet where the punter aims to select the first six winners at a horse race meeting, as selected specifically by The Tote.
What does tote betting mean?
Horse race betting has a lot of variations and formats. It’s impossible to be bored when betting on horse racing! One of the more commonly seen formats of betting is the Tote. Basically, it’s kind of similar to how the lottery works. A better will choose their horses, based on a lot of factors, and they put their stake into a totepool along with everyone else and the pot grows cumulatively. At the end of the final race, all winning tote bets are given a percentage of the tote placepot, known as dividends, (72% to be exact, minus the 28% that goes to the bookies who run the horse racing and those actually in the sport itself to continue its existence).
If you wanted to put on a tote bet you’d simply select your stake and put your tote bet on via a very complex method of picking a horse and hoping for the best. The more bets on a given horse or given race significantly impacts the outcome and it’s not always best to go with the favourite. The more people to share the tot placepot with, the less you get.
About tote jackpot
The stake is available to betters all days of the week with the exception of Saturday.
There’s a minimum bet of only a pound
Multiples can go up in denominations of only 10 pence
Multiples might also go up in denominations of 50 pence
Despite these low stakes, the jackpot is surprisingly generous! This is because, despite the concept being incredibly simple, in practise it’s very hard to select six winners in a row.
It’s not uncommon for the jackpot to go without a winner following a meet and when this happens the tote bets simply roll over into the next because there isn’t anyone to claim any dividends.
The concept of a tote jackpot
The core concept of a tote jackpot surrounds whether your bet wins or places during the races. If you have bet on a particular horse and you expect it to win then all it needs to do is cross that finish line in first place and win the whole race and you’re rewarded according to the odds shown for that horse winning said race… Just like you’d expect.
As it’s a tote jackpot, you’re entitled to a portion of the pool betting pot.
Interesting fact about Tote
The Tote was actually born in 1928 with thanks to its creator, none other than Sir Winston Churchill, who was a huge fan of having a flutter on horse racing as well as a horse owner. Betfred came along in 2011 and bought the company out from it’s government-ownership and since then they have become one of the most well-known and trusted brands in horse racing ever known! Largely due to the fact that Betfred forged a deal on their purchase of The Tote that stipulated a seven year monopoly over the horse racing industry in terms of pool betting and therefore everything that had anything to do with a tote placepot, tote jackpot, totepool, tote exacta and generally just all tote bets. Gambling hasn’t been the same since this bold move was taken by Betfred, who have extended from having just one shop to having over 500 and a massive online presence.