Tote

W

Wassermusik

At the Start
Joined
May 2, 2003
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146
Today in the Lingfield 14.45 the place payout from the tote was bigger than for the win.

sometimes this is the case for short priced favorites.

Can someone please explain how the place odds from the tote are calculated?
(i know it depends on the money which is on, but i would like to know the formula behind)
 
Remarkable. Not only was the place dividend (£3.30) for the 5/4 winning favourite bigger than the for the win (£2.60), it was also much greater than the place dividend on the 5/2 shot in 2nd (£1.40).

You can get weird things happening when there are small pools.
 
You need a bit of luck to land such a payout.

Many years ago, Pat Eddery was riding an Abdullah odds-on shot in the closing maiden at Ayr. As the gathered behind the stalls, he was something like 1.50 the win and 1.90 the place. Being a wee bit wet behind the ears, I emptied my pockets on the tote - about £20 I think - on the place. As I walked a way to watch the race on TV I turned to the tote monitors to see he'd shortened to 1.10. My £20 alone might have done that!
 
It used to take the Tote in Ireland a minute to update the screens so you could get wild swings. Everyone would be looking at the evens to place on a 1/2 shot right at the off but it would return 1/10 for the place. I think they update every 30 seconds now but if you bet with the tote into a small pool you are taking your life in your hands.
 
New MD of Tote Ireland comes from the IT world. New direction being taken I hope. There is no reason why the Irish Tote cannot offer us a value alternative way of doing our dough.
 
If they have the foresight to create a low-commission exchange, I'll be more than happy to bet with them.
 
Fred Done named master entrepreneur
Click to expand...
By Bill Barber 10:11AM 9 OCT 2012
BETFRED founder Fred Done was on Monday night named the UK master entrepreneur of the year at a prestigious awards ceremony in London.
He received the accolade at the Ernst & Young Entrepreneur Of The Year awards at the Hilton Park Lane.
Done said he was "honoured and humbled" to receive the award which, according to Ernst & Young, is "given to people who have demonstrated immense achievement, success and skill over a sustained period of time".
North West senior partner at Ernst & Young Simon Allport said: "The judges commented that Fred ‘personified entrepreneurship, innovation and sustained success'.
"His appetite for growth shows no signs of abating; he has put the company in pole position on mobile betting and now has plans to expand overseas."
Click to expand...

All very true, the latest manifestation of his appetite for growth being to increase the takeout from Tote pools, allegedly to enhance liquidity. Now that's a good one. By the way, it's worth noting the time interval between the two Racing Post stories. :whistle:

Tote to increase win pool deductions


By Bill Barber 10:25AM 9 OCT 2012
THE TOTE are to increase their deductions from win pool bets from 13.5 per cent to 16.5 per cent from October 22.
They said the increase had been made to improve UK pool liquidity and competitiveness and to make UK pools more attractive to international participation as co-mingling had been limited by an imbalance in deduction rates.
It is the first change to the win pool deduction since the then Tote chairman Peter Jones reduced the rate from 16 per cent in March 2003.
Betfred has a seven-year exclusive licence to offer pool betting following Fred Done's takeover of the Tote in June last year.
Totepool managing director Phil Siers said: "These rate changes will enable Totepool to establish a further bridgehead in international pool co-mingling, offering the UK punter better and bigger pools. This is an exciting development for Totepool and its racecourse partners, and we look forward to greater pool success going forward."
The deductions from the exacta and trifecta pools have been reduced from 26 per cent to 25 percent.
Click to expand...
 
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What does this mean:

"These rate changes will enable Totepool to establish a further bridgehead in international pool co-mingling, offering the UK punter better and bigger pools. This is an exciting development for Totepool and its racecourse partners, and we look forward to greater pool success going forward."
 
I suppose Fred is entitled to up the retention if he feels that is the best way to maximise his profit, but the reasons he has given are utter bollocks.
 
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