The placepot is one of the UK’s most popular horse racing bet markets. It is managed by the Tote Group and adopted by a wide range of amateur and professional gamblers. One explanation for the popularity of Tote Placepot bets is that it typically offers punters massive real money wins on relatively small wagers.
Not only is the Placepot highly rewarding, but it also comes off as an easy system for players to apply. And like most parimutuel bet markets, the Placepot also requires you to make a selection of multiple horses on your race card.
Are you new to Placepot betting, or do you simply wish to go over the basics? Here is a rundown of how the market works and how to calculate Placepot winnings.
Arguably one of the best pool betting techniques, a Placepot is one where punters select a horse in all of the first six races of a meeting. These bets are collected by bookmakers who, in turn, send the stakes to the Tote pool. Additional horses can also be selected for a race. However, this would increase the value of your initial stake.
The pool size increases by as many players who stake the Placepot. In the same way, the fewer people who make the winning combination, the higher the winning prizes will be. One of the advantages of the Placepot bet is that there can be as many winners as possible. Also, your dividend depends on the total pool and not just your bet amount.
To make a placepot bet in any of the horse racing apps, you get to make a selection of at least one horse on each race. In Placepot terminology, selections made per race are referred to as a line. You can decide to place one or more lines in a Placepot bet.
Having multiple selections improves your chances of betting on a placed horse but your stake is also multiplied by the number of lines you place. For instance, two selections in the first race and one selection in the other raises creates two lines and your stake is multiplied by two.
Generally, if any of your selected horses places in the race, you’ll get returns from a large pool of all the Placepot bets. If more than one horse places, your returns are also multiplied. Placings in this betting method depend on how many horses participate in a race. Here’s a rundown of available places by number of runners in a race meeting.
As simple as placepot bets may appear, many players still have a hard time scooping massive wins from it. That’s why understanding proven strategies are essential to making the best of your selections. Here are three important notes about a placepot bet.
This strategy is often called banker legs. It ensures that your lines on each race and subsequently your stake is kept at an optimum. Here, you select just one horse that is not favourite to win but will likely place. This will help limit your total lines and allow you to spend your additional selections on uncertain races.
There is a higher chance that other punters may select favourites in their bets. However, when fewer favourites place, the dividends tend to be higher. So, it would help to leave out favourites that show little prospects out of your bet. This would make your payout bigger if the leading horses fail to make a place.
If you played a banker leg, you can make additional selections in competitive races. In races like the Cheltenham festivals where you have more than 20 runners, betting on many numbers to make the four places is a good strategy.
If you select a horse that is a non-runner in your placepot bet, the bookmaker will automatically convert your stake to the SP favourite. Where there are multiple favourites, the horse with the highest racecard number will have your bet. So, where horse 2 and 5 are co-favourites, your non-runner bet will be on horse 2.
The least amount you can stake on a Placepot line is 10 pence. However, some sportsbooks allow as low as 5 pence on a line. Regardless, the minimum amount on your total stake is £1. So, to complete a £1 stake with 10p, you’ll have to bet on at least 10 lines.
From the total pool, 27% is deducted by the Tote agency while 73% is shared among successful punters. The Tote Group publishes Placepot winnings, revealing what each punter gets on a £1 stake. So, your total prize money depends on the amount of your stake and successful lines.
You can calculate the total you’ve won by multiplying your stake on each line by the total winning lines. For instance, if Tote pays £100 on a £1 stake and you have three £2 lines, your £6 stake wins you £600.