Tote betting in New Zealand is very popular when it comes to horse racing competitions. Kiwis have a real passion for placing tote bets on various local and even international thoroughbred racing tournaments that take place annually. Just like the online betting system that is pari-mutuel, tote betting is very popular because the odds themselves can vary quite a bit depending on how many people end up winning in the pool. Players seem to prefer tote bets to fixed odds, and we are going to explore a little bit of why that might be the case.
Discover how tote betting works in horse racing and start your victory laps. We have harnessed our wise specialists to break down the tote betting system and the way one extrapolates the odds. Below is a comprehensive compilation of the best sportsbooks within the borders of New Zealand that offer tote betting selections.
Best Horse Tote Betting Sites in New Zealand
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Claim Now
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100% Match
Up to $100 |
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100% Match
Up to $300 |
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100% UP TO €25
+ €10 FREE BET |
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Bet €10 Get €30
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Bet €20 win €200
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Bet €10 Get €30
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R100
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What you will find on this page:
- What Is Tote Betting?
- How Does Tote Betting Work?
- Types of Tote Bets Online
- Pros of Tote Betting
- Cons of Tote Betting
- Which Countries Use the Tote?
What Is Tote Betting?
This is a simple explanation of tote betting. In this betting system, the bettor picks the winning horses. The bets go into a pool betting system with a bonus from the track. When the bettor goes to collect, the bettor essentially gets what his particular pool ticket is worth plus his share of the bonus. In mathematical or financial terms, the pool amount that is divided among the winning ticket holders looks something like this. The rewarding part of the picture is called the payout.
How Does Tote Betting Work?
When choosing the tote betting system, you really need to pay attention to the odds that are advertised for the specific horse race that you are interested in. The betting options available to you are either to select the fixed odds that the sportsbooks have set for that particular race (before the race starts, of course), or to place tote bets, which fluctuate in value as each punter joins the pot. In cases where you are only betting on a single race, the most common types of tote bets to make are a win bet (i.e., a bet that your selected horse will finish first) or a place bet (i.e., a bet that your selected horse will finish either first or second). Here is a step-by-step guide to placing tote bets and achieving the highest possible odds.
- Select a horse from the group (consider the odds).
- Bet on a horse to win or place in the race. Your betting slip will keep track of the race by displaying the horse's name.
- If the horse is listed as the favorite, you will not receive a significant portion of the winnings. In betting terms, this means a low payout percentage.
- Therefore, the lower the number of bettors who picked the winning horse, the higher your share will be.
Types of Tote Bets Online
Although the popular bet may seem like a wise choice, the payout rate may not be high enough to make it a worthwhile bet. Here are a few types of tote bets that may pay off better when you win:
- Exacta Tote - bettors must predict the order in which the first and second finishing horses cross the finish line.
- Tote Trifecta - bettors must predict the first three horses to cross the finish line in exact order.
- Each Way - a combination of a Tote Win bet and a Tote Place bet.
- Tote Placepot - During the first six horse races listed on your race card, you, the bettor, must successfully identify the winning horse in each individual race.
Pros of Tote Betting
Compared to traditional fixed odds betting, tote betting offers several advantages to the player: - More favorable odds - A larger pool of money to win - Greater potential for larger payouts Payouts before the race is over are the hallmark of the pension. Seeing your winnings in advance is a way to ensure the pleasure of winning twice: once when you see the money and again when you realize that your horse actually won!
The wagering system used by many racetrack operators is known as tote betting. When a bettor wins a tote bet, he or she shares in a pool of winnings. Only with tote betting, where the entire pool is divided among the winners, can a person bet virtually any amount on a horse and have a reasonable chance of winning.
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Cons of Tote Betting
Tote betting, which is a form of pari-mutuel betting, can be challenging for punters because they cannot determine the exact return they will receive when they place a bet. This is because the pool must be closed before the prices can be calculated, leaving us with a bit of uncertainty. This is especially the case if a horse has been around 5.50 and then late money drives its odds down. What we really need to know is the price that represents value to us and the situation when it does not.
Tote betting is a type of pari-mutuel betting in which the bettors' wagers are combined and the winnings are shared among all the bettors. When you use a tote, the odds are determined by what is wagered in each race. For example, if a lot of money suddenly comes in on one horse, the tote can also affect what happens to the odds and what you might win if you had bet on another horse.
Which Countries Use the Tote?
In the UK, a form of betting known as tote betting is quite popular for jackpot-style pools. Here, customers must select a set of multiple winning horses (usually in a 1-2-3 order) in order to collect their winnings. The way it works is very similar to how lottery pools work (e.g. EuroMillions, the UK National Lottery). However, what makes UK pools and similar systems in other parts of the world (e.g. Italy, Japan) a bit unusual is that these syndicates take their odds from a segment of the customer's wager.
Tote betting, also known as Pari Mutuel Urbain (PMU), is a form of betting administered by the French government. It is the most popular form of gambling in the country and is a government-controlled monopoly. Betting on a harness racing event can be a very satisfying experience. When one thinks of betting, the first thing that usually comes to mind is placing a bet on a horse to win the race. Horse racing is a very old sport with origins dating back to antiquity. Ancient Greece had a form of horseracing, and many say that the first horseracing track was built there. It presents a distinctive system that uses a pool betting structure and allows its clientele to place bets through an abundance of over 10,000 sales outlets - by telephone, Internet or mobile device. As one of the largest tote operators in the world, PMU's totes offer customers an easy way to enjoy and participate in sports betting.
In the United States, horse racing betting is conducted exclusively through a tote system. At each racetrack, there is a large board that shows the current payoffs for each of the runners according to how much money has been wagered in the pool. When betting on a tote system, returns are calculated on a $2 wager, and you can make all kinds of interesting bets, from single win bets to combination exactas and trifectas.
Tote betting is an extremely common type of betting on horse racing events and can be found all over the world at racetracks where live racing takes place. It is particularly popular in certain countries, such as Japan and Hong Kong, where it is an official and legal form of betting.