How Does Tote Betting Work?

Answer

Tote Betting is one of the most well-liked forms of betting in the UK and it is the only bookmaker in UK, which is allowed to give pari-mutuel betting on horse racing. In tote, the betting pool is created from persons placing money on a Tote bet. A price citation for a horse on the Tote is the present bonus payout on the event of that outcome happening.
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1 Additional Answer
Tote is short for Totalisator. All the Tote bets are placed in a pool, and a deduction is made to cover costs and the Tote's contribution to UK horse racing. The sum of money remaining in the pool is then divided by the number of winning tickets to give a dividend, including a GBP 1 stake. Odds vary according to the pattern of betting, and bets are not accepted once the race has started.
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