The Tote is a horse racing pool and does not offer fixed odds. All the money that is bet is added to the pool and winning bets are paid from it. There is far more to Tote betting that placing win and each way bets, though of course you can do this. Here we will look at some of the more interesting kinds of tote bets that you can make.
The Exacta bet is essentially a straight forecast bet and what you do is to attempt to predict the first two horses and their correct order. In fact there are various forms of Exacta bets. A Single Exacta is predicting first and second in the correct order, a Combination Exacta is a bet on the first two horses but the order in which they finish is not important. In reality it is two Single Exacta bets, the second of which the order is reversed from that of the first. A Banker Exacta is a bet on the winner plus a bet on the horse that comes in second selected from a number of possible horses.
Trifecta bets take the above one stage further. With a Single Trifecta you need to predict the first three horses and the order in which they will finish. The other Trifecta bets follow the same pattern as the Exacta bets, there being Combination Trifecta and Banker Trifecta bets.
Another interesting Tote bet is the Tote Quadpot. Here you pick horses that will be placed in four races, these being the third, fourth, fifth and sixth race on the card. The dividend is not declared until after the result of the sixth race has been announced. Interestingly it is not necessary to name the winning horses as with the Quadpot you can bet on the favourites winning each of the races.
The Placepot is similar to the Quadpot though with the Placepot you need to predict the horses that will be placed in the first six races on the card.
The Tote Jackpot is a variant of the Placepot. The objective is to pick the winner on every one of the first six races on the card. It is not surprising that the Tote Jackpot payouts tend to be very large. If there are no winners, then the pool is carried forward to the next race.
The Tote Scoop6 works in the same manner as the jackpot except that it is only held on Saturdays and mostly only on televised races, Wins have been in excess of half a million pounds.
Finally there is the Toteswinger where the objective is to pick two horses that will be placed in the first six races on the card and the order of finishing does not count.