Tote betting in New Zealand is very popular in horse racing competitions. New Zealand punters place tote bets on several local and international thoroughbred race tournaments that take place on an annual basis. Just as in the pari-mutuel betting systems, tote betting online is popular because the odds vary based on the number of punters in the pool that win. Players opt for tote bets vs fixed odds because racebooks are the ones that determine the odds.
Find out how tote bets work in horse racing and start winning today. We have combined the collective wisdom of our expert tipsters to explain what tote betting is and how to calculate the odds. Here’s a full list of the best sports betting sites in New Zealand that offer tote betting options.
Best Horse Tote Betting Sites in New Zealand
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Operator
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Features
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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?
Here's our simple tote betting explanation is pretty straightforward. It is a system in which punters pick the horses that win and place bets in a cumulative pool that includes some other gamblers. The payout for a ticket is shared among the lucky punters. The total sum that punters receive is based somewhat on the number of individuals that won the pot. The shared winnings are sometimes referred to as dividends. From now on, punters should understand that not all bets possess the same weight. Explore how it works below.
How Does Tote Betting Work?
When you choose the tote betting system, you have to pay attention to the odds advertised for a specific horse race. The betting options are either you pick the fixed odds that sportsbooks pre-set before the race begins or the tote bets that fluctuate as each punter joins the pot. The most popular tote bets for single races is the win bet or place betting option. Here’s the step-by-step guide to winning making tote bets:
- Choose a horse from the field (take into consideration the odds).
- Place a bet to win or the place the horse will reach in the race. Your betslip will display the horse’s name in order to keep track of the race.
- If the horse is tipped as the ‘favourite’, you will not have a big share of the pie. This means that it has the lowest payout.
- Therefore, the fewer the number of punters that picked the winning horse, the more your share is.
Types of Tote Bets Online
While it may seem like a good idea to choose the popular bet, the percentage payout does not make the wager a good one. Here are some variations of tote bets that may provide a higher dividend when you win:
- Tote Exacta – punters have to guess the order the horses will finish in first and second position.
- Tote Trifecta – predict the first three horses in the correct order.
- Each-Way – this bet involves picking a combination of a Tote Win bet and a Tote Place bet.
- Tote Placepot – over the course of the first six horse races on your race card, the bettor must predict the winner of each race event.
Pros of Tote Betting
Tote betting offers punters multiple advantages in comparison to traditional fixed-odds betting, including more favourable odds, a larger pool of money to win, and the potential to generate higher payouts. Tote betting also allows punters to receive payouts before the race has been concluded, giving them the chance to see their winnings earlier than if they had bet on Fixed Odds!
Tote betting is the wagering system used by many racetrack operators in which the betting pool is shared among punters who place winning bets. Unlike other forms of gambling, tote betting allows customers to bet whatever amount they like on a race. It additionally provides an advantage over fixed odds bookmakers, as those companies can refuse bets from shrewd or large staking clients.
Tote Betting, or pari-mutuel wagering, is a common form of betting on horse and greyhound races. In this system, all bets are pooled together and those who bet on the winner will receive the same payout from the pool; this encourages collaboration between the players. The tote helps maintain fairness and integrity in racing as it prevents connections of horses from manipulating fixed odds betting by delaying racing to ensure generous returns. Furthermore, large amounts of money being staked also drive down dividends, acting as a deterrent for any potential plotting.
Cons of Tote Betting
Tote betting, which is a form of pari-mutuel betting, can pose difficulties for punters as they are not able to determine the exact return they may receive when placing a bet. Because the pool must close before prices are calculated, this leaves some uncertainty. For example, if a horse has been at around 5.50 and then late money drives its odds down, it can be especially problematic for those who need to know the price that represents value for them and when it does not.
Tote betting is a form of pari-mutuel wagering that involves pooling the stakes on certain races and distributing the winnings among all people who have placed bets. With tote betting, the odds are determined according to the total amount bet in each race. This means if one large bet affects the market, such as if the total pool suddenly goes up significantly, then this can have an effect on changing the odds and payouts for all other people who have placed bets.
Which Countries Use the Tote?
In the UK, tote betting is a popular form of betting for jackpot style pools. In this system, customers must select multiple winning horses in order to be rewarded. Unlike other countries in the world, however, fixed fractional odds betting is much more popular than the pari-mutuel style tote system in the CA and it is not used as much on a race-to-race basis.
Tote Betting, also known as Pari Mutuel Urbain (PMU), is a form of betting administered by the French government. It is a state-controlled monopoly and is the most popular type of gambling in the country. Tote betting, operated by PMU in France, is a popular and convenient way for customers to bet on horse racing. It offers a unique system using a pool-betting structure, allowing users to place bets through an extensive network of over 10,00 sales outlets, or by phone, internet or mobile. As one of the largest tote operators in the world, PMU's totes provide customers with easy access to relish their love of sports betting.
In the United States, tote betting is an exclusive system used in horse racetracks. In each racetrack, there is a large board which displays the latest dividend for each of the runners according to how much money has been bet into the pool. When betting on a tote system, returns are calculated at a $2 stake and can be placed on single win bets, combination exactas, trifectas, etc.
Tote betting is a popular form of wagering on horse racing events, predominant at racecourses around the world. It is especially popular in countries such as Hong Kong and Japan, where it serves as an official and legal betting offering.