Bet in the Tote Pools here

"Tote" is short for Totalisator, which is a system introduced to Britain in 1929 to offer pool betting on racecourses. It's a pretty simple concept. Here's how it works. All the stakes collected on a race are put into a general pool. A deduction is taken out to cover costs and the Tote's contribution to the race. The remainder of the pool is divided by the number of winning units to give a dividend, which is declared inclusive of a £1 stake.

In other words, those in the pool are betting against each other. In other types of sports betting, bettors are betting against the bookmaker. Odds fluctuate according to the pattern of betting. Betting ceases when the race goes 'off.'

What Is A Fixed Odds Bet?

In a nutshell, fixed odds are known prior to betting. The odds are determined by the likelihood of the event happening. For instance, the probability of coming up with heads in a coin flip is 50%. Therefore, if one were to wager on it, the fixed odds offered might be even money.

Knowing the possible options your next move is to bet. This is known as your stake. The first figure in the odds lets you know just how much you will win in proportion to your stake, which is the second figure given.For instance, if Manchester United is 3/1 to win the European Cup, you can expect to win three times your stake. Therefore, if your stake is £10, you will win £30.

Do not forget that if you place a winning bet you will also have your stake returned. Therefore, if you have £10 at 3 to 1 on Manchester United winning the tournament and they duly oblige, you will have £40 credited to your account (£30 won + £10 stake). As you can see, fixed odds are very simple to understand once you have a couple examples to go by.