What Is Tote Betting and How Does It Work?

For quite a long time, gambling was an activity exclusive to the upper levels of society. We all know images from movies and paintings where dukes and counts are playing cards. Therefore, participation in this sort of activity wasn’t possible for most of humanity. In the 20th century, things changed drastically.

At the beginning of the century, gambling became much more accessible due to the opening of casinos all over the globe. Even in that situation, the activity was pretty much exclusive to the people who were passionate gamblers. Real accessibility started to emerge two decades ago with the introduction of the internet.

Nowadays, there are numerous gambling games to take part in. Even though it is considered by many to be old-fashioned, we can see that horse betting is still a big thing. If you want to learn more about it, visit https://onlinebetting.net.nz/horse/. Today we want to focus on a little bit specific approach to this activity. We are talking about tote betting. Without further ado, let’s begin.

How Did it Come to be?

Source: freepik.com

We all know that horse racing was always a highly popular activity in the United Kingdom. But the moment when it became quite a popular thing in the 1920s. What happened then? Well, tote, as a system was established by the government. Not only that, it was 100% owed by it, and believe us, even at that point, it was an organized system.

The need for creating something of this sort was an absolute must for an obvious reason. It happened because many scammers have started to appear, and many people lost a lot of their money for believing these people. To put a stop to it, the government has done exactly what we described earlier in the article.

The decision made was backed up by one of the most influential British politicians of all time, Winston Churchill. Another result of this decision was that a vast majority of the profit has come directly to the industry, avoiding the leaks that have started to appear due to the high number of scammers out there.

The Basics

Generally speaking, we all have some idea about how traditional bookmakers work, right? Well, this is not an approach you can expect to face while you are participating in tote betting. We are talking about an approach that makes it possible to bet from a cumulative pool of prizes.

At the same time, they do not work too much with some odds return who are completely fixed. It’s old mythology. What does this mean? It means that the stake will find itself in, let’s say, the pool of money where sums wagered by other players out there can also be found.

As a result, if not a lot of other bettors have made the same wager, in this case on a particular horse, then the winner can expect to get a much higher prize. After the race has been finished, the pool is divided. Back in the day, this was possible only on the racecourse. However, you can do much of it online these days.

The Live Market

Source: freepik.com

Another trait that makes this concept different from others is that we are talking about a live market. It means that the odds are constantly changing. You cannot just find the one you have the most confidence in and make the decision that will prove either beneficial or a mistake on your part.

Naturally, the market will be closed when the race starts, and it remains closed until it is finished. As is the case with any other sort of betting out there, putting a wager on the underdog will provide the player with a chance to win a higher prize. Differently, from other methods, this happens in the tote because a low number of people are making that decision.

Of course, this is much easier to say than to do. The underdog is an underdog for a reason. But that doesn’t mean that this sort of surprise cannot happen from time to time. There are numerous stories you can find online about the situation when something like this has happened and provided the winner with a lot of money.

Is it Better Than Other Systems?

Source: pexels.com

Now, we want to take a look at two major reasons why we believe this system is more efficient than others.

The Dividend

The first major reason is the dividend. That means the forecasts of dividends, which are pretty much the same thing as the odds, take the funds that are been on a single horse. As you can presume, we are talking about a chance to get bigger prize money than is the case with other systems of this sort.

If you are the type of gambler that wants to do unexpected things and be greatly rewarded as a result, we believe that there’s no better way to do it than to participate in this sort of gambling.

Therefore, nobody should be surprised why so many players of the new generation love to be a part of this. The main reason is the dividend.

High Return

A reason that directly correlates with the previous one is a high return. Since the concept of a pool is predominant in this case, you can expect to get a share much larger than the one you have wagered in the first place. A high percentage of one other have put on horses will find its way to the pocket of a winner.

Sure, this doesn’t mean that making the right decision on whom to bet is going to be easy every single time. The competition is quite steep at every race out there. Still, the tote will assist you with getting a much higher return than in any other case.

In Conclusion

As we’ve said, many are surprised that horse betting is so active in this day and age. But when you take a look at all the things around it, especially the tote, then it becomes clear why. Here, we’ve shined a light on all the relevant points of this concept.