If you’re looking to place a relatively modest wager while still having the chances to win big, a Placepot is the way to go. Also known as a Tote Placepot, these bets don’t have the high stakes that combination bets do. You can wager a single pound and still win big. One punter managed to win over £182,000 on a single £2 stake at the Cheltenham Festival in 2019!
This type of bet has been around for nearly 100 years and continues to be the wager of choice for many. Offered by some of the biggest betting shops and online bookmakers, it’s a relatively safe bet that’s approachable even to beginners.
In this guide, we’re going to go over how the Tote Placepot works and what it has to offer. With a bit of understanding of how this wager works, you’ll be ready to start testing your luck in no time.
What is the Placepot Bet and How Does it Work?
What makes the Tote Placepot so unique is that it is a pool bet. Rather than betting against a bookie directly, you’re wagering against the pool.
Essentially, the pool is a group of other bettors. All of the total stakes are pooled together to create a massive prize. The winners then split the prize. Each return awarded is referred to as a Placepot dividend.
Placepots are used for horse races and cover six different matches. When you place one of these bets, you’re selecting a horse for each of the races on your race card. You can select more than one horse for each race. Though, you will have to pay for each line within the bet.
How to Calculate Placepot Costs
Calculating the costs of the Tote Placepot is very easy. It’s just a matter of figuring out how many selections you have and multiplying that figure by the unit stake.
The unit stake refers to the money you’re wagering for each individual selection. The total stake is the cost of the entire Placepot bet. Most bookies will accept a minimum total stake of £1. With 10 lines on the Placepot, your minimum stake for each unit could be £0.10. Though, it’s important to know that dividends are paid by the pound. Your reward will be rounded to the nearest pound. Thus, most punters will just stick to even stakes to make things easier.
So, let’s say that you’re doing a simple bet. You make a selection for all six races at a unit stake of £1. This is what’s referred to as Straight Lines. Here’s how your math would look:
1x1x1x1x1x1 = 1 line
1 line x £1.00 unit stake = £1.00 total stake
But what about if you wanted to choose more than one horse for each race? Here, things get a bit more complicated. You’ll have to work out a bit of math.
Let’s say that you pick two selections for the first and second races. Then, you choose 3 selections for the third and fourth. Finally, you stick to one selection for the fifth and sixth races. Again, your unit stake is £1. Here is what your calculations would look like:
2x2x3x3x1x1 = 36 lines
36 bets x £1.00 unit stake = £36.00 total stake
It’s as easy as that!
Betting Tips: Potential Results Prediction
Tote Placepots are very enticing because you can control how much you’re wagering as well as the min odds. It’s as flexible as you want it to be. Most beginners stick with Straight Lines. It’s easy, can be done with low stakes, and doesn’t require much knowledge about the racecourse or sport as a whole.
However, once you get more familiar with the game, you can start to cover more eventualities. There’s a wide range of permutations you can start to play with. Start betting on multiple horses during a single race to increase your odds of seeing a return! While this does come with higher total stakes, it increases your chances of seeing some kind of return.
Punters love Placepots because it’s one of the more versatile types of wagers you can make. You can cover your bases and make the odds work in your favor.
Why Make a Placepot Bet?
Ultimately, the biggest reason that many bettors participate in Placepot betting is the chance to win big. One way that many people view Tote Placepots is by looking at it as a lottery. The more people that put their money in, the higher the overall prize is going to be.
However, what makes it different from a lottery is that it’s not based on pure luck. You have strategy on your side as well. Knowing the race helps a lot. If you’re lucky or knowledgeable enough to choose all of the right selections, you could experience a massive reward. All on a small stake!
With other types of betting, such as combination bets, you’re faced with a high stake. To see a massive return, you might have to spend hundreds of pounds. There are exceptions of course. But in most cases, it requires placing high-stakes combination bets that don’t come cheap. Plus, you can only bet on one selection for each race. Unless you place an each-way bet, those selections have to come in first place!
That’s not the case with Tote Placepots. It’s very possible to earn a massive profit with a simple £1 stake on as many selections as you want. You can’t get that with other wagers.
What Sports Work Well with Placepots?
Tote Placepots are bets placed on horse racing events. There are other types of pool bets used for other sporting events, but the Tote Placepot is pretty much reserved for horses.
What Places are in the Placepot?
Here’s another big benefit of Placepots. Your selection doesn’t necessarily have to come in the top spot place to win a return. There are several places accepted. The exact number of places depends entirely on the number of races.
For races with four runners or less, your selection must win first place to win.
For races with five to seven racers, your selections can either get first or second place.
With eight to 15 racers, first, second, and third places are accepted.
Finally, 16 or more racers have the most accepted racers. You can win if your selections get first, second, third, or fourth place.
What Happens if You Have a Non-Runner in a Placepot?
Your stakes are still in place even if one of your selections ends up as a non-runner. A non-runner is a horse that is announced but doesn’t end up participating in the race. Where your bet goes varies based on the situation at hand.
In most cases, your bet goes to the SP favourite. SP stands for starting price. Essentially, this is the horse that’s favoured to win before the race even starts. This might sound advantageous, but many people will select the favorite because the odds are higher. Thus, your dividend could be very small.
Sometimes, races have more than one favourite. These horses are referred to as co-favourites or joint favourites. In these cases, your bet will go to the favourite that has the lowest racecard number.
Placepot Betting Strategy
There are a few different strategies available. The go-to for many newer punters is to pick the SP favourite. As we mentioned earlier, this isn’t the best strategy to go with.
That favourite is going to be picked by many punters. Thus, it’s going to do some damage to the Placepot dividend. Sure, you may win. But there’s a good chance that you won’t win much! Remember, the Tote Placepot dividend is split evenly among the winners after the bookmaker’s deduction percentage. If you have thousands of winners in the pool, that return will be less-than-stellar.
Instead of picking the favorite, why not choose a banker? A banker is a single horse that you’re putting all of your money on. It’s the horse that you will be watching closely and hoping pulls through. This isn’t going to be the SP favourite. Instead, it’ll be a horse that you choose carefully.
Here’s where understanding the sport comes in handy. Most punters will choose a single Placepot banker after following the horse and tracking their performance. It’s usually a horse that performs consistently. They might not win all of the time, but they have a good track record and place pretty frequently.
Putting all of your faith in that banker can be risky. But, you’ll reap the rewards if they pull through. Most people will stick to the SP favourite, leaving a relatively small pool and larger dividends.
One popular Placebot bet is called the 4 Bankers. Essentially, you’re choosing your banker selection for four of the races and choosing two selections for the remaining races. This can bet can still have very small stakes. Say, for example, that you place this bet with a £1 unit stake.
2x1x1x1x1x2 = 4 lines
4 lines x £1.00 unit stake = £4.00 total stake
Other Popular Pool Bets
The Tote Placepot can be a thrilling way to bet your money. But, it’s not the only pool bet available. Here are a few different pool bets that you can try out.
The Quadpot operates very similarly to that of a Placepot. The difference is that it covers four races rather than six. You must choose a selection for each race. To win, all four selections have to place, making it a bit more challenging.
The Jackpot is a very difficult bet to win. But, it can be one of the most lucrative. It’s available on one meeting every day except for Saturdays. To win this, all six of your selections have to place. Winning a Jackpot is very rare. Thus, rollovers are pretty common.
The Scoop 6 is kind of like the Jackpot. However, it only occurs on Saturdays and has payouts that regularly grow more than £1 million. Like the Jackpot, it frequently rolls over. To win the Scoop 6, you must choose the winner of six races. There are three ways to win. You can get the Win fund, the Bonus fund, and the Place fund. All three tend to be massive.
Best Sites to Place a Tote Placepot Bet On
Placepot bets are unique in the fact that they are managed by one entity. These tote betting pools include players from all over the country, so there has to be a central organization that controls everything. In the UK, that company is Totesport. In Ireland, it’s Tote Ireland.
Luckily, Totesport works with brick-and-mortar bookmakers as well as online betting sites. Online bookies allow you to make your selections and place your bets from home. You can watch the races live. Some are even broadcast on television!
Make sure to do some shopping before you choose an online bookmaker. Many offer free bets and other perks for new customers. UK customers can often claim these rewards after making the first bet. Just make sure to read the full T&Cs before committing.
Here are some online betting sites that accept Tote Placepot bets:
There’s a lot to like about Tote Placepots. You don’t have to wager a ton of money to win big. These low-stake bets are approachable regardless of your skill level, too. With total stakes as low as £1, there’s no reason not to give it a shot. Who knows? You may end up getting lucky and walking away with a sizable dividend!