Horse race betting is one of the favorites in the UK, Ireland, and other parts of the world. In terms of betting, it’s one of the absolute knockers since it gives players a lot of options to spend their money. There’s no sport with a greater diversity of gambling options, and placepot betting seems to be one of the most interesting.
If you have never heard about it, you’re not alone. This guide will break down what placepot pools are and why they’re a good option to explore for new and seasoned punters.
What Is a Placepot Bet?
Among different sports betting systems, a place pool bet is a pari-mutuel market that involves backing a selection of horses in several races on a particular racecard. As a punter, you put your money on 6 horses or a combination of one or more in specific races, placing bets on them all. So other punters do, with the money contributing to a pot that can grow quite large. All placepot running pools involve the first 6 races on a racecard.
This special bet has always been run by the Tote and is available on any UK race before it takes place. Why is it so popular? Because historically, it has been known to offer fantastic returns from relatively small stakes.
History of Tote Placepot
The placepot bet is not tied to any particular bookie, but historically, it was started by the Tote. The Tote is closely linked to quadpots and jackpots. You can place this bet online at most bookmakers in the UK, where some placepot totals can grow to £100,000 or more.
Nowadays, you can place this bet at any Tote window at the races or online with the most successful bookies.
Placepot Betting – Main Advantages
Unlike win, place, show bet the main advantage of placepots is the jackpot you can hit if you place all your horses. It’s easier than picking several horses to win, so that’s one of its strengths. It’s a tempting bet that can be used against a weaker favourite and offers pretty good value to punters.
How Does Placepot Betting Work?
Each meeting (race) has its placepot that usually involves the first 6 races on the card. The placepot totals are then added to a prize pool that the winners split.
Punters must select the winner in fields of 4 runners or less
If the field is 5-7, the horse can finish 1st or 2nd – it is the most common placepot pool
In fields of 8+, the horse can finish among the top 3 runners
In big fields such as 16+ handicaps, the finish line extends to the top 4
After the end of the race, the placepot dividends are calculated on a £1 stake. How much you can earn depends on the interest and the placepot running totals that have been put into the pool.
What Is the Placing in a Placepot?
It is a term which describes the placing of the horses. Refer to the previous paragraph to see how the placing affects the bet choice depending on how big the field is.
How Many Horses Is It Possible to Pick in a Placepot?
If it’s a field of 6, you must pick 6 horses. Most punters will stick to a single line (6 horses) in a horse racing placepot, which pays out nice dividends should you be lucky to get your horses right. Of course, punters can go with several lines to improve their winning chances, but those cost more and are paid less.
What if There Is a Non-Runner in a Placepot?
If there’s a non-runner, punters are automatically transferred to the SP favourite. If there are joint-co favourites, the highest racecard number carries the money.
How to Pick Placepot Horses?
Horse racing placepots are an art that’s learned through experience. Unlike head-to-head betting, it isn’t a bet for new punters, although you can get lucky. To pick the best placepot horses, you should look against the favourites. Once again, we must mention that this bet benefits from the experience. Learn the placepot rules and wager in other markets to learn more about horse race betting before starting your placepot journey.
How Many Lines Is It Necessary to Have in a Placepot?
You must have a single line in a placepot to participate, but you can also pick several lines.
Multiple Lines in Competitive Races
Putting your money on multiple lines increases your chances of winning. However, it would be best if you kept in mind that the more lines you play, the higher the stake is.
How Do I Calculate My Placepot Winnings?
To calculate the placepot payout, you should multiply the number of lines you have in race 1 by the number of lines in race 2, then race 3 etc.
Here’s a simple example of a placepot bet with 6 doubles:
- 2 selections per race – 2x2x2x2x2x2=£64
Since this amount is usually out of reach, you can combine singles and doubles for a smaller bet. For example:
Placepot Betting Examples
Going with a stake of £1, it’s easy to calculate what a single placepot bet will look like. It can cost as little as £6, but most punters will go with doubles, singles, or doubles for a better return.
Is Placepot Betting Profitable?
Placepots are fun and can be profitable if you know what you’re doing and have luck. Before that happens, you must learn what a placepot is and how it works since this isn’t your typical horse racing bet.
How Much Does a Placepot Cost?
As mentioned, if you go with 6 straight lines that cost £1 each, it’ll cost £6. Making money betting on sports can cost more if you choose double or triple runners.
How Much Do You Win in a Placepot?
That depends on the placepot and the interest in a race. Bigger races usually attract more punters, so it’s not uncommon for the pots to be over £200,000.
Final Words
Placepot betting is a nice way to spice things up if you’re always betting on the races. It’s more complex than choosing a runner to win the race or picking a horse to place or show. However, it pays significantly more, and that’s its beauty. It can be profitable to bet on horse racing, so learn the basics and practice, and you might win the placepot yourself.
