Betfred buys the TOTE

[andyk82]

I'm not sure if I like this or not.

It will safeguard some jobs, but lead to some redundancies.
It will allow someone to keep Ladbrokes and William Hill in check, but it is another example of an increasingly monopolised industry.
Will the Tote change its model?

Really not sure.

[Punter]

Over the last year, totewin paid 11% more than the SP.

Anybody use the totepool on a regular basis rather than bookies odds?

[ONEDUNME]

It's one of those statistics that sounds good until you look at it properly Punter.

If you're going to back horses at the front end of the market, i.e. the shorter priced ones, then you are going to make more taking bookie prices than totepool prices. The totepool advantage comes when you back outsiders, because it's a pool of money and obviously there are less people who are on your horse than those at the head of the market and therefore less people to divide the pot between.

On the downside, what sort of idiot backs a horse without knowing what price they're getting? There are odds before the off at what the current price is but that is subject to fluctuation depending on how many other people back your horse.

Add to that, the fact that, not only do you know your minimum returns when you take a price with a bookie (barring withdrawn horses) but you also get best odds if you bet with a decent bookmaker which means that you benefit if your horse wins after drifting in the market.

There are generally three types of people who use totepool betting.

1. Shrewdies who know that the horse they are on is likely to pay out bigger than the bookies (this excludes anything ridden by Frankie, AP, Ruby etc who are going to get clueless punters picking them blindly)

2. People who are too lazy/pissed to get a bet on with a bookie when they're at the race track.

3. Morons

[Punter]

I only ever used the tote once (other than the odd placepot) but i backed a 20/1 winner on course at Wolverhampton years ago, the payout was £18 something. I was surprised to see it lower considering the SP. Not much of a diff but enough for me not to bother again.

[ONEDUNME]

Do Ladbrokes not have odds compilers?

10am on a Saturday morning. Meetings at two of the premier flat racing tracks in the country and they can't be arsed to publish odds for most of the day's races.

Just another example of why Bet365, Boylesports, PaddyPower and Betfred are now way, way ahead of them.

Magic Sign?

Yeah right