In Kenya, tote betting is a very popular form of horse racing. Local punters, who are generally known to be fans of the sport, tend to place tote bets on both local and international thoroughbred racing events on an annual basis. Betting variations exist within the realm of tote betting, as "win" and "place" bets are the two most commonly seen forms of betting at the racetrack; however, tote betting at a kiosk can also be done by placing a "show" bet on a horse.
Understand exactly how tote betting works in horse racing and start claiming your winnings. We have gathered the expert knowledge of our punters to explain what tote betting is and how to calculate the odds. Below is a comprehensive list of the leading sports betting platforms in Kenya that offer tote betting.
Best Horse Tote Betting Sites in Kenya
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What you will find on this page:
- What Is Tote Betting?
- How Does Tote Betting Work?
- Types of Tote Bets Online
- Pros of Tote Betting
- Cons of Tote Betting
- Which Countries Use the Tote?
What Is Tote Betting?
Our definition of tote betting is quite simple. It is a betting system in which bettors select the winning and placing horses and then place their bets in a pool system with other bettors. The payout to a winning bettor comes from that pooled money, minus the house's cut, of course. Most of that money goes back to the bettors in the form of dividends, but there's no guarantee how much any one person will get, since no one knows how many other correct bettors there are.
How Does Tote Betting Work?
When choosing a tote betting system, the first thing to look for are the odds posted on the horse race. The betting options available are fixed odds, which are set by sportsbooks before the actual race begins, or tote odds, which fluctuate as each player enters the pot. As for the single race betting options that are most common when using the tote, there are win bets, which pay if your horse finishes first, or place bets, which pay if your horse finishes either first or second.
- Select a horse from the group (pay attention to the betting line).
- Wager on the horse to win or finish in the race. Keep track of the race by using the bets that show the names of the horses in order.
- If the horse is labeled 'favorite', you will not have a large portion of the payout. This is because the favorite has the lowest payout associated with it.
- Therefore, the smaller the number of bettors who picked the winning horse, the larger your share will be.
Types of Tote Bets Online
Although it may seem like a smart move to pick the big favorite, the actual percentage payout makes the bet not worth placing. Consider some tote bet options that might pay you a better percentage if you win the bet. Here are some variations of the tote bet that might pay you a little more if you win:
- Tote Exacta - players must predict the order in which the horses will cross the finish line in first and second place.
- Tote Trifecta - players must predict the first three horses to finish in the correct order.
- Each-Way - a combination of a Tote Win bet and a Tote Place bet.
Pros of Tote Betting
Compared to traditional fixed odds betting, tote betting offers several advantages to players. These include better odds, a larger pool of money to win, and the potential for larger payouts. More importantly, players can receive payouts before the race has finished, allowing them to see their winnings almost immediately after placing the bet.
The wagering system used by many racetrack operators is called tote betting, and it is shared among customers who place winning bets. Pool betting allows customers to bet as much as they want on a race and gives them an advantage over fixed odds bookmakers, who can refuse bets from shrewd or high-volume customers.
Tote betting, or pari-mutuel wagering, is a common form of betting on horse and greyhound races. In this system, all bets are pooled together, and it is from this pool that players receive payouts if they correctly predict the winner. There is no reason to cooperate if the payout from the pool is the same no matter how close one's bet is to the winning outcome. The purse maintains the essential fairness and integrity of racing. It protects the consumer by ensuring that not only the participant but also the spectator is on a level playing field. Horseplayers cannot manipulate fixed odds bets to achieve generous returns by delaying the race. In addition, when large sums of money are wagered, the tote reduces the payouts, which acts as a preventive measure against any kind of conspiracy that might occur.
Cons of Tote Betting
Although sometimes considered the same, tote betting, which is a form of pari-mutuel betting, is actually different from betting in a fixed odds market. As such, it is problematic for players trying to assess value when placing a bet. The reason is simple: Value in the context of betting has to do with price. And tote bettors have no way of knowing what price they are getting. For example, if a horse is priced at 5.50 and then late money drives it down, this can be especially problematic for those who need to know the price that represents value.
Tote betting is a type of horse betting in which the total amount of money bet on a horse (or selection of horses) is divided among the winners. Unlike single and multiple bets, where the payout can be determined (or at least calculated) before the race starts, the exact amount you can win on a tote is not known until after the race, as it depends on how many other people have bet on the same horse. Using the tote, we determine the odds based on how much money is bet on each horse in a race. If a single large bet affects the market - for example, if the total betting pool suddenly increases significantly - this can cause the odds and payouts to change for everyone else who has placed a bet.
Which Countries Use the Tote?
In the UK, betting in large pools on jackpots is a very popular form of betting. In this system, you need to pick several winning horses to get a and during the race-to-race basis, you won't get the kind of quarter because the quarter is much more popular than the kind of odds.
Tote betting, also known as Pari Mutuel Urbain (PMU), is a form of betting administered by the French government. It is the most common form of gambling in the country and is a government-controlled monopoly.
Betting on the Tote, operated by PMU in France, is a convenient and popular way for customers to place a bet on horse racing. It offers a very unique system using a pool betting structure that allows users to place their bets through an extensive network of over 10,000 points of sale or by phone, internet or mobile. As one of the largest tote operators in the world, PMU's totes give customers easy access to place a bet on the event of their choice.
In the United States, tote betting is a unique system used only at horse tracks. Each track has a large board that displays the current odds for each runner, reflecting how much money has been wagered in the pool. When betting on a tote system, we calculate returns on $2 bets. These can be placed on all types of bets: single win bets, combination exactas, trifectas, and so on.
Tote betting is a widespread form of betting on horse racing events and is common at tracks and courses around the world. It is particularly popular in some Asian countries - such as Hong Kong and Japan - which have made it an official and legal means of placing bets.