The placepot is one of the most popular horse racing bets in the UK and Ireland, and if you love to bet on horse racing but you've never placed a placepot bet, then you might be missing out! So what is a placepot bet exactly? We've prepared a short guide for you below to help you get started, complete with placepot tips and guidelines on how to identify the best betting sites which allow you to place tote placepot bets online.
The Placepot or Tote Placepot is a horse racing bet which allows punters to pick which horses will be placed over a total of 6 races. To place a placepot bet, punters need to select at least one horse from each race which they think will place either 1st, 2nd, 3rd, or 4th, depending on the number of horses in the race (and they will win their bet if the selection places, not matter in which position). The placepot is therefore similar to an accumulator or parlay bet, and can offer punters the chance to win huge amounts from small stakes!
The placepot bet is placed under Tote betting, a system that involves pooling bets placed on horse racing. Odds are calculated by dividing this pool amongst all the winning bets and a 'dividend' is declared, which is then among the winners (those whose have a selection that is placed in each race). Therefore, the stake is also included in the returns you receive if you win, and the returns will depend on how many punters win their bets.
The Tote Placepot races will normally be the first 6 races at a meeting, and bets will be accepted up to the first race. Dividends will then be declared after the last Tote Placepot race.
The below online betting sites offer tote placepot betting, as well as other forms of Tote betting (such as quadpot and scoop6, which are explained below). If you’re new to these sportsbooks, you’ll also benefit from a sports welcome offer, such as a free bet that you can use on horse racing as well. Simply click on the links to visit their websites directly and to sign up for the welcome offer!
To place a Placepot bet, you need to have at least one selection (horse) in each of the 6 races. Punters can select more than one horse in each of the six races. When more than one horse is selected in some races, these are called perm bets. These bets will of course increase your chances of winning, although the total stake will cost more.
The number of placings in a placepot depends on how many horses are competing in the race. The placepot is unavailable when the race involves up to 4 runners, whereas when there are up to 7 runners, punters can bet on 1st and 2nd places. When there are more than 16 runners, punters can bet on whether the horses will place 1st, 2nd, 3rd or 4th, and will win the bet if their horses place in either of these places. The screenshot below from Betfred Sportsbook explains it in simpler terms:
To calculate the cost of a placepot bet, you need to multiply your stake by the number of selections you have picked over the 6 races. To give you one example, if you’ve got two selections in each race, and your stake is 50p, your total bet would be 2 x 2 x 2 x 2 x 2 x 2 x 0.5 = £32. In other words, it’s as if you’ve placed 64 bets at 50p each!
To calculate your winnings, you have to consider the declared dividend and multiply it by your total winnings. For simplicity’s sake, let’s assume that you get one selection placed in each race at a stake of £1 (1x1x1x1x1x1). This means that you’ve only bet on one combination. If a dividend of £40 is available to be shared between winners, and you're one of these winners, then your total winnings will be £40 x 1 = £40.
Now let’s assume that you’ve bet on 2 horses in the last two races. This would give you a combination of 1x1x1x1x2x2 = 4 combinations. 4 combinations at a stake of £1 would cost you £4. This means that with a dividend of £40, your total winnings if all your horses place will be £40x 4 = £160! Dividends are normally much higher than that, which is why the placepot is so popular and rewarding!
When it comes to placing your placepot bet, a few placepot tips can always come in handy. First of all, you should know that betting on the favourites will yield the smallest payouts, since the dividend will pay less if all 6 favourites do get placed. That said, if you’re placing a perm bet you should include the favourites in your perm since these are likely to place (just to cover that possibility).
Then, you should consider selecting another horse in some certain races so that if one of the favourites doesn’t get placed, a lot of punters will be knocked out and you'll benefit from the increased dividend. In fact, one of the best scenarios you can hope for is winning your placepot when several favourites don’t get placed, as this knocks out a lot of punters and you’ll get a good share of a higher dividend!
When you're about to place a placepot bet, you should also consider the possibility of non-runners: when a horse is named but then ends up not participating in the race, keep in mind that all wagers on that selection will be automatically transferred to the SP favourite. For this reason, you should consider placing your Placepot bet late to avoid a horse being declared a non-runner (so that there will be less chance of your stake being transferred to the favourite.
One other placepot strategy involves picking your banker wisely. A banker bet involves selecting the same horse in each race, thus putting a lot of faith in this horse. The trick is to look for a promising and consistent horse which finishes in placings most of the time.
The placepot is not the only Tote bet you can place. The online betting sites recommended on this page normally also offer the below forms of Tote betting:
Quadpot - this is the same as the Placepot, but includes four races instead of six.
Jackpot - this is available on one meeting every day, except on Saturdays. Punters need to pick just one horse in the first six races, and if they all win, they get their share of the pool. The jackpot is extremely hard to win, so payouts can be really massive, though rollovers are common.
Scoop 6 - this replaces the Jackpot on Saturdays. Punters need to pick the winner of six selected races. The pool of the Scoop 6 is split into three separate funds: the Win, Bonus, and Place funds.
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