Tote Horse Racing in 2026

Tote horse racing betting works differently from conventional fixed-odds betting. Instead of taking a fixed price from a bookmaker, your stake normally goes into a betting pool with stakes from other bettors. After the applicable deductions, the pool is divided between winning units.

The Tote has operated in British racing since 1928 and remains one of the best-known names in pool betting. It is now owned and stewarded by UK Tote Group, rather than the UK Government.

Its horse racing products range from straightforward Win and Place bets to multi-race bets such as the Placepot and Quadpot, plus Exacta, Trifecta, Swinger and World Pool betting.

British Racecourses has reviewed the Tote offering for 2026, with particular attention to its horse racing products, pool mechanics, Tote+, SP Guarantee, app, World Pool and specialist racing bets.

The Tote Welcome Offer – Bet 5 Get 20 in Free Bets

If you want to sign up for the Tote today, try out the new customer welcome bonus shown below:

You can sign up to the Tote and bet £5 and get £20 in free bets!

Find out more about the Tote welcome offer.

How to Sign Up For a Tote Account?

To sign up for a Tote account, follow these steps:

1. Follow the links provided on our page to go to the official Tote website
2. Click the JOIN HERE button, which is clearly displayed on this landing page.
3. You will then have to enter your email address and a password to create an account.
4. In the next section, you fill in personal information.
5. In the final section, you will approve what marketing information you wish to receive from them.
6. Once the account is approved, you can make a deposit.
7. Should this deposit meet any wagering requirements, any sign-up offers will be added to your account.
8. You are then free to wager as you like with Tote.

What Is The Tote?

The word Tote comes from Totalisator, a system that calculates betting returns from a pool of stakes.

This creates a different relationship between price and payout from conventional fixed-odds betting.

With fixed odds, you might back a horse at

5/2 and lock in that price when the bet is accepted.

With pool betting, stakes on the relevant market are combined. The applicable deduction is taken, and the remaining pool is divided according to the successful units.

The final Tote dividend therefore depends partly on how much money enters the pool and how it is distributed among the different selections.

That distinction is fundamental to understanding Tote betting.

Who Owns The Tote?

The Tote is not currently government-owned.

The Tote began operating in 1928 following the Racecourse Betting Act and was historically controlled by the state through the Horserace Totalisator Board.

The UK Government sold the Tote to Betfred in 2011.

The Tote was subsequently acquired by the UK Tote Group in 2019.

UK Tote Group is backed by investors with strong links to horse racing, including racehorse owners and breeders. Its stated aim is to grow pool betting while supporting the wider racing industry.

This replaces the outdated description of Tote as a government-owned institution that appeared in the previous version of this page.

How Does Tote Horse Racing Betting Work?

The simplest pool-betting example is a Tote Win pool.

Imagine £100,000 is staked across all horses in a race.

That money forms the gross pool.

The relevant pool deduction is taken before the remaining money is used to calculate dividends for successful units.

If relatively little of the pool was staked on the winner, successful bettors divide the net pool between fewer winning units.

If a heavily supported favourite wins, substantially more winning units may share the pool.

The Tote dividend is therefore not simply the equivalent of a bookmaker’s fixed price.

This also explains why Tote betting becomes particularly interesting on major racedays when domestic and international liquidity can increase substantially.

Tote Betting Versus Fixed-Odds Betting

The differences are easier to see side by side.

Feature	Tote Pool Betting	Fixed-Odds Betting
Price Locked When Bet Is Placed	Usually No	Yes
Bettors Contribute To A Pool	Yes	No
Return Depends On Winning Units	Yes	No
Specialist Multi-Race Pools	Yes	Bookmaker Dependent
Final Dividend Can Change Until Pool Closes	Yes	No For Accepted Fixed Price
Placepot And Quadpot Available	Yes	Usually Access To Tote Pool Rather Than Fixed-Odds Equivalent

Neither system is automatically better for every race.

Our Is It Better To Bet On The Tote? analysis looks at the decision in more detail.

Bettors comparing conventional bookmaker accounts can also use our Best Horse Racing Betting Sites rankings.

Tote Welcome Offer

Tote welcome promotions change, so an evergreen review should not rely on an old offer remaining available indefinitely.

The previous version of this page contained a specific Bet £5 Get £20 promotion. Check the live promotional module and current terms before publishing any fixed offer amount.

We maintain a separate

Tote Welcome Offer page for the latest details.

This separation prevents the main Tote horse racing page becoming inaccurate every time the acquisition offer changes.

How To Open A Tote Account

The exact registration screens can change, but the account-opening process follows the standard UK betting-site model.

1. Visit The Tote Registration Page
2. Create Your Account Using The Requested Details
3. Complete The Required Personal Information
4. Complete Any Required Identity And Age Verification
5. Choose Your Marketing Preferences
6. Add A Supported Payment Method
7. Make A Deposit If You Want To Fund The Account
8. Check Any Promotion Terms Before Qualifying For An Offer
9. Choose The Tote Pool Or Other Betting Market You Want To Use

UK gambling operators must complete required verification checks, so account opening should not be treated as simply entering an email address and immediately betting.

Does The Tote Have Best Odds Guaranteed?

The Tote uses the Tote Guarantee, sometimes referred to as its SP Guarantee.

This is different from conventional bookmaker Best Odds Guaranteed.

For qualifying Tote Win bets, the principle is that if the relevant Tote dividend is greater than the Industry Starting Price, the Tote dividend applies. If the Industry SP is greater than the pool dividend, the qualifying return can be topped up to the SP equivalent.

The feature is particularly important because a pool bettor does not lock in a conventional fixed price when the bet is placed.

Our dedicated Tote SP Guarantee page explains the feature in more detail.

Current terms should always be checked because eligibility can depend on the bet, channel and Tote rules in force.

What Is Tote+?

Tote+ provides enhanced dividends on eligible bets placed directly through Tote’s qualifying digital channels.

The enhancement is not identical across every pool.

Current Tote+ terms separate the products into two main groups:

Eligible Pool Type	Tote+ Enhancement
Win And Place	10%
Exacta, Trifecta, Swinger, Placepot, Quadpot And Other Listed Pools	5%

The enhancement is subject to the current Tote+ terms, eligible pools and qualifying dividend requirements.

This matters when comparing direct Tote betting with accessing Tote pools elsewhere.

Read our full Tote+ guide for a closer look at how the enhancement works.

What Horse Racing Bets Can You Place With The Tote?

Tote’s strength is the range of pool bets available to racing bettors.

Some cover a single race. Others require successful selections across several races.

Tote Win

A Tote Win bet requires your selected horse to win.

The return comes from the relevant Win pool rather than a fixed price accepted when you place the bet.

Read our Tote Win guide for more detail.

Tote Place

A Tote Place bet requires the selected horse to finish within the qualifying place positions.

The number of places depends on the race conditions and applicable Tote rules.

Our Tote Place page covers the bet separately.

Tote Each-Way

An each-way bet combines a Win element and a Place element.

The total stake is split between the two parts.

This means a £10 total each-way stake is not the same as £10 on the Win element and £10 on the Place element unless the bet is explicitly entered as £10 each way.

Tote Exacta

An Exacta involves predicting the first two finishers.

A straight Exacta requires them in the correct finishing order.

Different Exacta structures can provide additional combinations, but extra permutations increase the number of bets and therefore the total stake.

Our Tote Exacta page explains straight, reverse and combination approaches.

Tote Trifecta

A Trifecta requires you to identify the first three finishers.

A straight Trifecta requires the exact finishing order, making it substantially harder than simply identifying three horses likely to run well.

Combination and banker structures allow more permutations.

Read our Tote Trifecta guide for examples.

Tote Swinger

A Swinger involves selecting two horses to finish in the first three in either order, subject to the relevant pool rules.

The two successful selections can therefore finish:

• First And Second
• First And Third
• Second And Third

Our Tote Swinger page explains the bet in more detail.

Tote Quinella

A Quinella requires two selections to finish first and second in either order.

That distinguishes it from a straight Exacta, where the first two must finish in the precise order selected.

Tote Quadpot

The Quadpot is a multi-race place bet covering four specified races.

On a conventional British card, it is associated with races 3, 4, 5 and 6.

You need a qualifying placed selection in each leg.

Multiple horses can be included in individual legs, creating permutations and increasing the cost.

Our Tote Quadpot page covers the mechanics.

Tote Placepot

The Placepot is one of Tote’s best-known bets.

You need at least one qualifying placed selection in each of six races, generally the first six races at the meeting.

You can use a single selection in every leg or create a perm by selecting multiple horses.

For example:

2 × 1 × 3 × 1 × 2 × 1 = 12 lines

The total cost then depends on your unit stake.

Our recently updated Tote Placepot guide explains the bet, place rules, permutations, bankers, non-runners and strategy.

Readers looking for daily selections can use our Tote Placepot Tips page.

We also cover Tote Placepot Insurance separately because promotional terms should not be confused with the underlying Placepot rules.

Tote Placepot7

Placepot7 expands the multi-leg place format to seven races.

Unlike a standard Placepot centred on one meeting, Placepot7 can draw its legs from more than one card.

Our Tote Placepot7 page explains the format.

Tote Jackpot

The Jackpot is based on finding winners across a nominated sequence of races.

This creates a very different risk profile from the Placepot because winning, rather than simply qualifying for a place, is required in each relevant leg.

Read our Tote Jackpot guide for the current format and rules.

Tote Scoop6

Scoop6 is another multi-race pool built around a nominated sequence.

The exact scheduling and rules of specialist pools can change, so bettors should check the current pool before assuming an old Scoop6 format still applies.

Our Tote Scoop6 page covers the product separately.

Tote Survivor

Tote Survivor uses an elimination-style format.

Rather than treating it as a standard fixed six-fold accumulator, bettors progress through the nominated sequence according to the Survivor rules.

Our Tote Survivor page covers the current format.

What Are Tote Exotic Bets?

Exacta, Trifecta and other specialist pool bets are often grouped under the term exotics.

They require more specific outcomes than a straightforward Win or Place bet.

That can create larger dividends when the outcome is difficult to predict, but complexity does not automatically make a bet better value.

Our Tote Exotic Bets guide brings the main products together.

How Do Tote Permutations Work?

Permutations let you cover more than one combination.

A Placepot provides a simple example.

Suppose you use:

• Leg 1: Two Horses
• Leg 2: One Horse
• Leg 3: Three Horses
• Leg 4: One Horse
• Leg 5: Two Horses
• Leg 6: One Horse

The number of lines is:

2 × 1 × 3 × 1 × 2 × 1 = 12

If your unit stake were 50p, the total would be:

12 × £0.50 = £6

Permutations also appear in products such as Exactas and Trifectas.

The principle is important because adding a few extra selections can multiply the total stake quickly.

Does The Tote Have A Betting App?

Yes.

Tote offers mobile betting through its app, providing access to its racing pools and other account features from a smartphone.

For bettors who primarily use a mobile device, the relevant questions are different from those used to judge the Tote as a whole. Navigation, bet-slip speed, race discovery, pool information and account management become particularly important.

Our dedicated Tote Betting App review covers the mobile product.

Readers comparing the wider market can use our Best Horse Racing Betting Apps rankings.

History Of The Tote

The Tote has been part of British racing since 1928.

It was created following legislation designed to establish a pool-betting system for racing.

The business remained under state control for much of its history.

In 2011, the Government sold the Tote to Betfred. The former Totesport betting-shop estate was subsequently incorporated into Betfred’s retail operation, which explains the historic connection with Betfred betting shops.

UK Tote Group acquired the Tote in 2019.

Today, UK Tote Group describes itself as the owner and steward of the Tote and has investors including racehorse owners, breeders and the Racehorse Owners Association.

The Tote therefore retains a close relationship with British racing, but describing it as a government-owned organisation today is incorrect.

Does The Tote Cover Irish Racing?

Yes.

Tote pools extend beyond British racing and include Irish racing.

This matters because British and Irish racing form a major part of the Tote’s regular product rather than being treated as occasional international coverage.

British Racecourses has a dedicated Irish racecourses section for bettors researching individual courses.

What Is Tote World Pool?

World Pool combines betting liquidity from racing fans in different countries into common pools on selected races and meetings.

The concept is significant because larger international pools can produce much greater liquidity than a purely domestic pool.

The Hong Kong Jockey Club plays a central role in World Pool, while Tote provides access for eligible British and Irish customers.

World Pool has become particularly prominent around major international and British racedays.

Our Tote World Pool page explains the pools, bet types and how the international system works.

Why Does Pool Size Matter?

Pool size matters because dividends depend on the amount of money available and how much of it sits on successful combinations.

A larger pool does not guarantee a bigger return on your particular bet.

It can, however, improve liquidity and allow substantial amounts to be absorbed across the market.

The distribution of money is just as important.

If a large proportion of a £1 million pool is attached to the successful outcome, many winning units still need to divide the net pool.

If an unexpected result removes most popular combinations, surviving units can receive much larger dividends.

What Is Tote Credit?

Tote Credit is promotional betting credit subject to Tote’s current terms.

It should not simply be described as identical to cash.

Credit itself cannot normally be withdrawn as cash, and restrictions can apply to its use, expiry and qualifying bets.

The previous version of this page described Tote Credit as a “FREE BET” with all the functionality of a real-money stake. That wording was too broad.

Our dedicated Tote Credit page covers how the promotional credit works and the restrictions that apply.

Always check the terms attached to the specific credit before using it.

What Is The Tote Stayers Club?

The Tote Stayers Club is part of Tote’s wider engagement with racing fans and staying races.

As with any membership or promotional programme, features can change. Check the current programme rather than relying on benefits listed several seasons ago.

What Is Tote Fantasy?

Tote Fantasy provides a different racing format from traditional pool betting.

It combines racing selections with fantasy-style competition rather than functioning as a straightforward Win, Place or multi-leg Tote pool.

British Racecourses keeps it separate from the core Tote betting explanations because the user intent is different.

Tote Ten To Follow

Tote Ten To Follow is another racing-focused competition associated with selecting horses to follow across a season.

It should not be confused with the standard Tote pools used for individual racedays.

Seasonal rules, scoring and entry details can change, so current competition terms matter.

Tote Betting Slips

Tote bets can be unfamiliar to bettors accustomed to conventional bookmaker coupons, particularly when using Exactas, Trifectas, Placepots and other multi-selection pools.

Our Tote Betting Slips page shows examples covering the main bet types.

Online and app bet slips perform much of the calculation automatically, but understanding the number of combinations remains important before confirming a bet.

Can You Bet With Tote At A Racecourse?

Tote has a longstanding on-course presence in British racing.

Pool betting is particularly well suited to racecourse betting because the same pool can receive stakes from different channels.

On-course availability and minimum stakes can differ from online terms.

If you are planning a racing trip, use our UK racecourses directory to research the course before travelling.

Tote also has a presence across Irish racing, although individual facilities and betting arrangements should be checked for the meeting you are attending.

Can You Use Tote In A Betting Shop?

Tote products can also be available through supported retail betting channels.

Availability can differ by operator and product.

Our Betting Shops Near Me directory covers UK betting-shop locations.

Bettors primarily interested in online accounts should instead compare the options on our horse racing betting sites page.

Tote Payment Methods And Withdrawals

Payment information changes more frequently than the underlying Tote betting products.

The previous version of this article stated that Tote accepted only Visa and Mastercard and that withdrawals took an average of three to five days. Those details should not be hard-coded into the main evergreen Tote page without continual verification.

Our dedicated Tote Payment Methods page is the better location for current deposit methods, withdrawal options, minimums and processing information.

This keeps payment information separate from the core explanation of Tote horse racing.

Tote Live Streaming

Tote provides racing streaming functionality through its digital service, subject to its current eligibility and account conditions.

Streaming rules can change, so claims such as “every race without a bet” should not be treated as permanent unless supported by current Tote terms.

Our

Tote Live Streaming page covers the current viewing options.

Readers comparing streaming across bookmakers can also use our broader live horse racing streaming section.

Does The Tote Offer Horse Racing Tips?

Tote publishes racing content and information around its pools, but British Racecourses keeps tipping intent separate from this Tote overview.

Readers looking specifically for selections can use our free horse racing tips content and Tote Placepot Tips page.

Keeping tips separate prevents this page from becoming a mixture of a Tote explainer, bookmaker review and daily tipping page.

Tote Racing Content And Features

Tote has published interviews, trainer features, stable content and other editorial material around British and international racing.

The previous version of this page highlighted the Lambourn Lowdown and individual behind-the-scenes features. These are better treated as current editorial features rather than permanent characteristics of a Tote account because publication schedules can change.

The same principle applies to seasonal competitions and racing features.

The core reason for using Tote remains its pool-betting product.

Tote Sponsorship And Support For Racing

The Tote has close commercial links with the racing industry.

UK Tote Group states that its ownership and strategy are centred on supporting and growing racing, while World Pool has created an additional international source of pool-betting activity around major racedays.

British Racecourses covers this relationship separately on our Tote Sponsorships page.

This is an important distinction from a conventional sportsbook because Tote’s identity remains closely connected to racing and pool betting.

Tote Cheltenham, Epsom And York Betting

Tote activity becomes particularly visible around major British meetings.

British Racecourses has dedicated pages for:

• Tote Cheltenham Betting Offers
• Tote Epsom Derby Betting Offers
• Tote York Ebor Betting Offers

Promotional details on these pages should be checked around the relevant meeting because race-specific offers are inherently time-sensitive.

Tote Text Betting

British Racecourses also has an existing guide to

Tote Text Betting.

Text and telephone betting services are more vulnerable to operational changes than core online pool products, so bettors should verify that any service, number and supported bet type remain active before attempting to use it.

The main Tote horse racing page should not hard-code old SMS instructions that may later become obsolete.

Tote Customer Service

Customer-service channels, telephone numbers and addresses can change.

For that reason, the main Tote horse racing page should avoid presenting old contact details as permanently current unless they have been verified immediately before publication.

British Racecourses maintains a separate page covering the Tote company and its wider background.

For an account-specific problem, use the current support options shown after logging into Tote or on its current help pages.

Tote Horse Racing Pros And Cons

Pros

• Specialist Horse Racing Pool Betting
• Placepot, Quadpot And Other Multi-Race Pools
• Exacta, Trifecta And Swinger Options
• Access To World Pool On Selected Races
• Tote+ Enhancements On Eligible Direct Bets
• Tote Guarantee On Qualifying Bets
• Strong British And Irish Racing Coverage
• Dedicated Tote Betting App
• Longstanding On-Course Racing Presence

Cons

• Final Pool Dividend Is Not Normally Known When The Bet Is Placed
• Pool Deductions Affect The Amount Returned To Winning Units
• Multi-Leg Permutations Can Become Expensive
• Some Promotions And Features Have Specific Eligibility Rules
• Specialist Pool Bets Require More Explanation Than A Standard Fixed-Odds Single
• Payment, Streaming And Promotional Terms Can Change

Is Tote Betting Better Than Using A Bookmaker?

There is no universal answer because the two systems work differently.

A fixed-odds bookmaker lets you lock in a price when the bet is accepted. This can be valuable when you believe the market will shorten.

Tote pool betting leaves the final dividend dependent on the pool.

That can produce attractive outcomes when the winning selection or combination has attracted relatively little of the total pool, but it can also result in a less attractive dividend when a popular result lands.

Tote+ and the Tote Guarantee can affect the comparison on eligible bets.

Serious racing bettors therefore benefit from understanding both systems rather than treating one as automatically superior.

Our

Best Horse Racing Betting Sites page compares bookmaker accounts, while our dedicated Is It Better To Bet On The Tote? article focuses on the pool-versus-fixed-odds decision.

Who Is Tote Best Suited To?

Tote is particularly relevant to racing bettors who enjoy:

• Pool Betting
• Placepots And Quadpots
• Multi-Race Betting
• Exactas And Trifectas
• World Pool Races
• On-Course Betting
• Following British And Irish Racing

A bettor who only wants to take an early fixed price on individual horses may place greater emphasis on conventional bookmakers.

A bettor who enjoys analysing a full six-race card can find the Placepot much more relevant.

The product should determine the choice rather than the age or reputation of the betting brand.

All Tote Pool Betting Related Guides

British Racecourses has a substantial Tote content cluster. These pages cover individual products and features in more depth:

• Best Placepot Betting Sites
• Is It Better To Bet On The Tote?
• The Tote Company
• Today’s Tote Placepot Tips
• Tote Betting App
• Tote Betting Slips
• Tote Cheltenham Betting Offers
• Tote Credit
• Tote Epsom Derby Betting Offers
• Tote Exacta
• Tote Exotic Bets
• Tote Fantasy
• Tote Guarantee
• Tote Jackpot
• Tote Live Streaming
• Tote Payment Methods
• Tote Place
• Tote Placepot
• Tote Placepot7
• Tote Placepot Insurance
• Tote Plus
• Tote Quadpot
• Tote Scoop6
• Tote Sponsorships
• Tote Stayers Club
• Tote Survivor
• Tote Swinger
• Tote Ten To Follow
• Tote Text Betting
• Tote Trifecta
• Tote Welcome Offer
• Tote Win
• Tote World Pool
• Tote York Ebor Betting Offers

Frequently Asked Questions

What Is Tote Horse Racing Betting?

Tote horse racing betting is primarily based on pools. Stakes from bettors are combined, deductions are made according to the relevant rules and the remaining pool is used to calculate dividends for successful units.

Is The Tote Government-Owned?

No. The Tote was historically state-controlled, but the Government sold it in 2011. UK Tote Group acquired the Tote in 2019 and is its current owner and steward.

What Does Tote Mean?

Tote comes from Totalisator, the system used to calculate pool-betting dividends from the stakes placed by participants.

Does Tote Offer Fixed Odds?

The defining Tote racing product is pool betting. Tote also operates a broader digital betting service, but bettors should distinguish the Tote pools from conventional fixed-odds bookmaker markets.

What Is The Most Popular Tote Bet?

The Placepot is one of the Tote’s best-known products. It requires a qualifying placed selection across six races and is closely associated with betting through a full race meeting.

What Is The Difference Between A Placepot And Quadpot?

A standard Placepot covers six legs, generally the first six races at a meeting. A Quadpot covers four specified races, conventionally races 3 to 6.

What Is A Tote Exacta?

An Exacta requires you to predict the first two finishers. A straight Exacta requires the correct finishing order.

What Is A Tote Trifecta?

A straight Trifecta requires you to predict the first three horses in the correct finishing order.

What Is A Tote Swinger?

A Swinger requires two selected horses to finish in the first three, with either order accepted under the relevant rules.

What Is World Pool?

World Pool combines betting liquidity from multiple countries into common pools on selected international and major racing fixtures.

What Is Tote+?

Tote+ enhances eligible dividends for qualifying bets placed directly through Tote’s designated digital channels. Current enhancement percentages depend on the pool type.

Does Tote+ Give 10% Extra On Every Tote Bet?

No. Eligible Win and Place pools currently receive a 10% enhancement, while several other eligible pools, including Placepot, Exacta, Trifecta and Quadpot, fall into the 5% category. Current terms and pool eligibility apply.

Does Tote Have A Betting App?

Yes. Tote provides a mobile betting app giving users access to its racing products and account features.

Can I Bet With Tote At A Racecourse?

Yes. Tote has a longstanding on-course presence in British racing, although facilities and minimum stakes can differ between courses and betting channels.

Does Tote Cover Irish Horse Racing?

Yes. Irish racing forms part of Tote’s racing coverage alongside British racing and selected international events.

Can You Use Tote Through Other Betting Sites?

Access to Tote pools can be available through other betting operators. Direct Tote betting can have different features, including Tote+ on qualifying bets, so compare the terms rather than assuming every route is identical.

Where Can I Compare Tote With Other Horse Racing Betting Sites?

Our

Best Horse Racing Betting Sites page compares the main options for UK racing bettors.

Tote Customer Support?

If you are looking for Tote customer service, you are in luck, as they offer great online and in-person customer support.

The contact details you need are:

Tote Email: customercare@tote.co.uk

Tote Phone: UK 0800 032 8188 / Non-UK +44 1942 314045

Tote Address: Customer Care, Douglas House, Tote Park, Chapel Lane, Wigan, WN34HS

You can read more about the Tote company.

Pros and Cons of Tote Betting?

Summary

Tote horse racing is built around pool betting.

Bettors contribute stakes to a common pool and successful units receive a share of the money remaining after the relevant deductions. This differs fundamentally from accepting a fixed price from a bookmaker.

The Tote’s strongest point is the depth of its racing-specific products. Win and Place provide straightforward single-race pools, while Exacta, Trifecta and Swinger offer more specialised outcomes. Placepot and Quadpot extend the concept across several races, and World Pool connects British bettors with much larger international pools on selected racedays.

The Tote also has features such as Tote+, the Tote Guarantee, mobile betting and on-course access.

Its history remains important, but the current ownership needs to be stated correctly. The Tote is no longer government-owned. UK Tote Group has owned and stewarded the Tote since 2019.

For bettors deciding between pool and fixed-odds betting, the key is to understand how the return is calculated. Tote betting can produce a very different result from taking a bookmaker price, particularly when an unpopular horse or combination wins.

British Racecourses therefore treats Tote as a specialist horse racing betting option rather than simply another conventional bookmaker.