The Tote Placepot is one of the most easily accessible and entertaining pools available to bet on in horse racing – but it can also be a daunting thing if you’re new to the idea of pool betting.
Horse racing is hundreds of years old and often the experts forget how much jargon newcomers have to wade through. One of the big hurdles to overcome if you’re new to racing betting is the Tote, and particularly the Placepot.
And that’s where Paddy’s here to help. This guide will help you understand the basics of Placepot betting at the Tote, so you know how to get started. We’ll look at the rules you’ll need to follow and the general concept of pool betting.
What is the placepot?
A Placepot is a type of pool bet that bookmakers like Paddy Power facilitate via the Tote. Like with any pool bet, punters make their selections and throw their stakes into one big pot. Whoever wins gets a dividend payout based on the size of their stake, the size of the pot, and the percentage of other people who won.
So, that’s pool betting in a nutshell. What’s the Placepot, then?
Well, the Placepot is one of the pools that horse racing betting fans can enter. The pot covers the first six races at a meeting – all you’re looking to do is pick a horse to place in each one. Do that successfully and you’ll earn a dividend (payout).
Paddy Power offers placepot bets via the Tote
Tote placepot rules you need to know
Now you know more about Tote betting, it’s time to look at Placepot rules in a little more detail. Make sure you know these inside out before jumping in with your first Placepot.
Pick a minimum of six horses
This is perhaps an obvious one. The Placepot covers the first six races at a meeting, which means you need to cover at least six horses. You can bet on more than one horse in each race but you’ll need to pay for that stake. That’s because your overall bet is based on the number of selections you make.
Placepot minimum bet rules
Indeed, when making a Placepot bet you need to figure out the size of each bet, and therefore the overall cost. If you set your bet level at £1 and make the minimum number of selections (6) then your overall cost will be £6.
The Tote has dropped its minimum stake per line to 1p and minimum overall stake to 50p.
Rules for multiple lines in a Placepot
Selecting multiple lines in the Placepot is common because punters rarely have a strong conviction on exactly which horses will place across a six-race meet. You can bet on however many horses you like per race – just be aware that your stake will increase.
Here’s how you can figure out your overall stake:
• Race 1: 2 selections
• Race 2: 2 selections
• Race 3: 3 selections
• Race 4: 1 selection
• Race 5: 1 selection
• Race 6: 2 selections
Say you bet 50p on each line in this Placepot. Your overall cost of the bet would be as follows:
2 x 2 x 3 x 1 x 1 x 2 = 24 lines
24 lines x 50p = £12
Placepot place rules
The point of the Placepot is to give you more flexibility in your bets, so you don’t have to back a winner for each race. Instead you can rely on them finishing outside the winning positions. The Tote Placepot rules around places are pretty tight, tough, so it’s worth knowing what you’re betting on per race. For example, if there are only four horses in a race then your pick needs to win in order to continue the Place Pot.
Here’s a breakdown of the place rules:
• 2-4 runners = 1st
• 5-7 runners = 1st or 2nd
• 8-15 runners = 1st, 2nd or 3rd
• Non-handicap race of 16 or more runners = 1st, 2nd or 3rd
• Handicap race of 16 or more runners = 1st, 2nd, 3rd or 4th
Placepot start time
Placepots open at 4pm the day before a race meeting and close once the first race of the day gets underway.
Unnamed favourite Placepot rules
Bettors are able to back the unnamed favourite in any of the races featured in a Placepot, simply by making the selection. This is a great way to back a favourite in a volatile market where the odds are fluctuating, and you’re not sure which horse to go with. Just make sure you’re happy to accept whichever horse is the favourite, as you won’t have control over who that is.
Bet at Paddy Power shops or via text
You can place Playpot bets with Paddy Power via any of our shops or by texting 51465. It’s not possible to place tote bets via Paddy’s online betting site or the app.
Placepot payout rules
Placepot payouts are distributed as dividends to all those who are lucky enough to win. You earn a payout if you manage to nail all six selections. The Tote keeps around 27% of the overall pot, which it shares with the horse racing industry, and the rest is distributed back to winning punters.
Payouts come in the form of winnings like any other sports bet. If you’re betting at a racecourse then you’ll need to pick up your winnings. The same goes for placing any Tote bet at Paddy Power’s betting shops.
READ MORE
- Learn about placepot dividends here!
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