Extracting value from horse racing bets is something punters have sought to do for decades. You can bet on an outsider at 15/1 and win decent profit from a £10 bet if your luck is in. But what if you want to chase thousands of pounds without staking beyond your budget?
Welcome to the world of Placepots, a type of horse racing bet that offers lucky winners the potential to score huge windfalls.
Placepots are part of the series of bet structures that go beyond the simple “single” bet. Just like accas, bet builders, trifectas, and each way Lucky 15s, understanding what the Placepot is and how it works is really important before you get started.
If you’re new to horse racing betting and want to elevate beyond the usual “single” or “each way” bets, then you’re in the right place. Paddy’s guide to the Tote Placepot is here to explain it all.
Understand how to bet on the Tote Placepot
What is the Tote Placepot?
The Tote Placepot is a pool bet that pays out dividends to those lucky few who secure places across six horse races at a single meeting. The idea is simple:
- Everyone selects at least six horses across six races at a particular meet
- Each bettor places their stake in a big pot
- Horses have to win or place in order to count as a win in the Placepot
- Those at the end of the day who have six winners earn a share of the Placepot dividends.
Placepots are different to accumulators or multiple bet structures because they involve betting against other people, rather than the bookmaker. Your winnings are calculated by dividing the total pot value by the number of eventual winners.
The Tote operates the Placepot and you can bet via Paddy Power shops.
Placepot origins
Placepots are one of the various types of pools bets that have been around for more than a century. The Tote was the first to really bring the Placepot to the market and offer it as a genuine option for the wider betting community.
These days the availability to bet on the Placepot via your phone means anyone of legal gambling age, and who isn’t restricted from horse racing betting, can play the Placepot.
How placepot bets work
Here’s a quick step-by-step process for betting on the Placepot. Remember, the Tote owns and operates the Placepot, so you can’t bet directly from the Paddy Power website or app.
Step 1 – Access the Tote
The first thing you need to do is figure out how to access the Placepot. As the Tote runs it, you can either bet via their app, at a Tote counter at a racecourse, or via a Paddy Power shop.
Step 2 – Choose your meeting
Next, choose which racecourse you want to focus on. UK and Irish racecourses usually feature around seven races, so you’ll be focusing on the first six. For our example, let’s say you choose to bet on Cheltenham.
Step 3 – Pick your horses
Go through each race at Cheltenham and select a horse you think will place. The odds make no difference here, but remember that low-odds horses are likely to attract more players. Note that the number of places in a Placepot might be different from the outright odds. Placepot places are as follows:
• 4 runners or fewer: 1st place qualifies
• 5-7 runners: 1st & 2nd place qualify
• 8+ runners: 1st, 2nd, & 3rd place qualify
• Handicaps with 16+ runners: 1st to 4th place qualify
You can also choose more than one horse per race to increase your chances of winning. However, this also increases the cost of your bet.
Step 4 – Choose your stake
You pay a flat stake for each horse you select. So, if you only choose six horses at a £1 stake, your overall cost is £6. Your minimum per-line stake is 10p but your overall stake must be £1 or more.
Step 5 – Place your bet
Once you’re happy with your selections, simply place your bet on the Tote app, website, at a racecourse counter, or at a Paddy Power shop. Then it’s time to sit back and follow all the action.
If you win, you’ll be paid out an equal share of the dividend depending on your stake. Dividends are calculated to a selection cost of £1. So, if the total dividend is £10,000, you bet £1 per line and you’re one of 10 people to win, then you’ll earn £1,000.
Want to know more? Learn the Tote Placepot rules here!
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