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Tote Betting Definition Tote vs Fixed Odds Betting

Tote betting definition

Tote betting? What the hell is a tote? I don’t know about you but the first time I came across this on my favourite sports betting app it had me scratching my head. At first I just ignored it. There was so much more interesting stuff that I put the tote betting definition on the back burner. Time has passed and I figure now was a good time as any to find an easy to explain tote betting definition on the Internet. Man, there’s a lot of tote betting definitions on the internet, some of which is pretty confusing.

Best Tote Betting Definition

I think the most in depth tote betting definition can be found on Wikipedia! Sometimes it’s also referred to the French Parimutuel betting, also found on Wikipedia. You can read those articles to find a bit of history and more in-depth explanation of tote betting.

The main difference between a fixed bet and a tote bet is the odds on the fixed bet does not change whereas it does on a tote bet. With a tote bet you don’t know what the odds are until after the race has ended. Oh yeah, I forgot to mention that tote betting is only found in racing events such as horse and greyhound racing.

From what I can gather bookies prefer tote betting because they have a better idea of what they’re getting. Their dividend is always a percentage of all the money collected in the bet. Once they’ve deducted the commission the remainder is distributed with the winners. Here is an excerpt from the Wikipedia article I mentioned above.

[greybox]Consider a hypothetical event which has eight possible outcomes, in a country using a decimal currency such as dollars. Each outcome has a certain amount of money wagered:

















Thus, the total pool of money on the event is $1028.00. Following the start of the event, no more wagers are accepted. The event is decided and the winning outcome is determined to be Outcome 4 with $110.00 wagered. The payout is now calculated. First the commission or take for the wagering company is deducted from the pool; for example with a commission rate of 14.25% the calculation is: $1028 × (1 – 0.1425) = $881.52. The remaining amount in the pool is now distributed to those who wagered on Outcome 4: $881.52 / $110.00 = 8.01 ≈ $8 per $1 wagered. This payout includes the $1 wagered plus an additional $7 profit. Thus, the odds on Outcome 4 are 7-to-1 [/greybox]

Personally I think they should call it Pool Betting because that better describes the whole process. All bets on the race are pooled together. The bookie deducts his percentage and the rest is distributed amongst the winners. Shit, I wouldn’t be at all surprised if that term actually existed.

The only advantage that I can see for tote betting is for those who bet on an outsider because there would be less punters to share the winnings with. Whereas if a favourite one you’d have to share it with a lot more meaning a smaller porting for everyone.

Which Is Better Tote Betting Or Fixed Bets?

I may have to try a tote bet to before I can answer this honestly. Then again with a tote bet it all depends on whether the horse that run was a favourite or an outsider and how may punters you have to share your bet with. For now I think I will stick with a fixed bet. At least I know exactly what my winnings will be when my horse crosses the finishing line.


Long Shot Bet Of The Week

Every now and again a punter just has to have a go at a long shot. A long shot is when a gambler punter decides to place a bet on a horse, team or sport outcome that hasn’t a hope in hell of winning. You can usually tell when a betting opportunity is considered a long shot.

Long Shot AFL Round 21


When deciding about this weeks bet of the week I wondered whether or not I should be placing some money on a long shot. So I fire up my Sportingbet app, went to the sports section, Aussie Rules and then AFL Round 21. It didn’t take long to find that the AFL round 21 long shot was the Sydney vs St Kilda game. That particular game will kick off at the SCG on Saturday August the 16th at 1:45pm. So, how much was I going to place on St Kilda to beat Sydney. As you can see from the image below, if you can take your eyes of the sexy blonde long enough 😀 not all that much.

The odds on St Kilda to beat Sydney, at the time I placed the bet, was $17.00. So, if a miracle was going to result in a St. Kilda win my dollar bet would result in a $17 win! As far as I’m concerned there’s not a chance in hell that St. Kilda will beat Sydney, but then upsets have been known to happen and if it does that will be my biggest win ever. Especially considering the minimal outlay.

Long Shot bet of the week


OK, so I got that long shot bet out of the way, which is really a fun bet more than anything else, now it’s time for some serious online sports betting. My main bet is going to be on the Adelaide vs Richmond game which is being played at the Adelaide Oval on Saturday August 16 at 7.10pm.

After the Crows win against the Brisbane Lions, last weeks Bet Of The Week, I’ve decided to let the money ride on my favourite AFL team, the Adelaide Crows. That last win got them back into the eight and I know their going to do their best to stay there. Not only that, they have to do well if they’re going to appease their fans, especially because they’re playing at home. I know their 19th Man will do all they can to get their team across the line too. They’re going to scream their lungs horse and woe be those umpires that make those dumb arse calls. If they do that, and they will, the fans will boo there sorry arse right out of Adelaide Oval.

Over to you now. Have you ever bet on a long shot that paid off? IF so leave us a comment, we’d love to hear from you.

But before you go, what do you say about basking in a little Crows glory as they win the last Showdown. They said it couldn’t be done but I backed the boys and I won. Go The Crows!

Common Questions About Online Betting

I know there may be many questions about online betting. I thought I might be able to answer some of them in this post.

These Are My Common Questions About Online Betting

Should I have Multiple Betting Accounts

Of the many questions about online betting the most common one would be whether or not to have multiple betting accounts. My personal opinion is one should have multiple accounts. This is because there are several advantages to having more than one account. Not all bookies offer the same odds so having more than one betting account allows you to get the best odds possible on any given sporting event.

Another reason for having multiple betting accounts is to take advantage of some of the promotions offered by the different betting agencies at different times. Just as an example, Sportingbet has a promotion on the Socceroos vs Netherlands World Cup game where they’re offering a huge $20 for Australia to beat the Dutch on Thursday. if you were going to bet on Australia anyway then this offer would definitely be for you. Bet365 also has their offers. I’ve taken a screenshot from both so you can see them ‘live’ 😉 With Sportingbet’s offer a $10 wager will win me $200. Although I know it’s going to be pretty hard for the Aussies to win that game I took that bet,

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How Do I Read The Odds?

When I first starting getting into online betting of the many questions about online betting working out the odds was way out on top In Australia we use the decimal odds system. This is different from countries like England that use the old ‘x-1’ odds. I’ve heard though that they may be changing to the decimal odds soon. The screenshot of my win in the England vs Italy World Cup game shows exactly how the decimal odds system works. Basically, the odds was $2.60 for a win. So if I placed a $1 bet I would win $2.60. Because I actually placed a $5 wager I won 5 times that amount netting me $13. Once I remove the amount I actually bet I come up with my actual winnings which was $8.

What Is A Double Chance Bet?

I wrote about this in my post, What Is A Double Chance Bet

What Sort Of Sports Can I Place A Bet On

You can pretty will place a bet on almost any sport, and in almost any country. Whether its horse racing or the World Cup most online betting agencies will have it covered. Another reason for having multiple betting accounts If one bookie doesn’t cover it another would. Here are just some of the sports you can bet on.

Horses, trots, dogs, Soccer, AFL, Basketball, Tennis, Rugby Union, Baseball, American Football, Boxing, Cricket, Cycling, Darts, Alpine sports, Golf, Ice Hockey, Netball, Snooker, Surfing. Heck, you can even bet on the outcome of an election!

If you have any questions about online betting feel free to leave a comment. If you got something out of this post I’d love it if you would use one of the share buttons at the bottom of this post.