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Tuesday, April 16, 2024

Placepot Betting Explained – What is Placepot Betting and How Does it Work?

The Tote placepot is a popular betting option in horse racing betting. It’s a type of pot bet where participants choose racers from the first six races in an event day and it pays out if you back racers that place in each of the six races. Due to its nature as a pool bet, the payout increases as more people place bets. This particular type of bet is also commonly used when betting on Cheltenham Festival. Click here to learn all about the best Cheltenham betting offers and free bets. 

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Tote advertises the Placepot as the best way to start your raceday, letting it acquaint you with all the major races before diving into the fun. 

How does a Placepot work?

A placepot bet is a multiple bet where a minimum of six bets are combined, covering the first six races of an event day. Each selection in your placepot is called a ‘line’ and you can have multiple lines for each race, increasing your chances of winning. One of these lines must place (finish in one of a few specified positions) in each of the six races for your bet to win. 

You can increase the number of lines to increase your chances of winning, but each additional line will increase the stake. When you choose multiple lines on a single race, this is referred to as a ‘perm’ (permutation) bet. 

Your placed bet will be put into a mass betting pool. Of that, 27% will be redistributed to other horse racing betting pools, and the remaining 73% will be split between the placepot winners. The amount returned per £1 placed changes depending on the number of betters vs winners.

Placepot Bet Example

As you add more lines to a placepot bet, the total number of lines expands exponentially. To calculate the number of lines in your placepot, you multiply the number of lines on each race together. 

Here’s an example of a placepot bet so you can better understand how to build your own.

Race Runners backed Total lines
1 2 2
2 3 6 (2 x 3 = 6)
3 1 6 (2 x 3 x 1 = 6)
4 2 12 (2 x 3 x 1 x 2 = 12)
5 1 12 (2 x 3 x 1 x 2 x 1 = 12)
6 3 36 (2 x 3 x 1 x 2 x 1 x 3 = 36)
Totals 12 runners 36 total lines

How are Placepot places determined?

If you’re familiar with different types of bets, you will notice that the placepot is a type of ‘each-way’ bet. Your selection will win if your runners place, which does not  necessarily mean coming in first. Placepot places are determined by the number of racers participating in a race, just like in ‘each-way’ betting. Here’s a reference chart:

Number of runners Payout places
1 – 4 runners Winner
5 – 7 runners 1st & 2nd
8 – 15 runners 1st, 2nd & 3rd
(Non-handicap) 16+ 1st, 2nd & 3rd
(Handicap) 16+ 1st, 2nd, 3rd & 4th

How much does a Tote Placepot cost?

Tote Placepots are made according to stake per line. Your stake will be multiplied by the number of lines in your bet, but the payout will be determined by the stake per line, not the total. This means that the more lines you bet on, the more you’ll have to stake.

So if you stake £2 per line on our example bet, the whole wager will cost you £72 to place. But if you bet 50p, it would only cost £18. This flexibility with the stake is a large part of what makes placepots so popular. The minimum stake you can place on a Tote Placepot is 10p, but the total stake must exceed at least £1 to count.

How To Place A Placepot Bet? 

By this point, there’s a good chance you want to make a Placepot bet! We particularly recommend making Cheltenham placepot bets, as the large number of high-profile races each day makes for exciting betting opportunities. 

Follow these simple steps to start making placepot bets:

  1. Log in to a sportsbook that supports the placepot — Tote is the host, but you can place your placepot through other bookies
  2. Find the event you want to bet on — you can sometimes place your bets the night before
  3. Pick your lines for each leg of the bet and how much you want to bet per line
  4. Confirm your bet on your betting slip
  5. Wait for the end of the day to see if you won!

FAQs

Is A Placepot A Good Bet? 

Yes, placepots are renowned for their payout-to-stake ratio, with low-risk bets often paying out well. If you intend to place further bets, Placepots also provides you with a schedule of all the main races on the day of the event. 

How Many Winners Do You Need In A Placepot? 

For a placepot to win, you need to back a racer that places in each of the six races covered by the bet. They do not have to win the race unless it features four or fewer competitors; the runner just has to place. 

What happens if a horse is withdrawn in a placepot?

Your bet will automatically go to the starting price favourite if one of your lines is dropped or proves to be a non-runner. If more than one racer is identified as the SP, the highest racecard number will be chosen at random.

What To Do If You Have A Gambling Problem

We understand that gambling can be fun, but it is always important to gamble responsibly. If you are struggling with a gambling problem, please do not hesitate to ask for help. There are people who can help you get on the road to recovery. Below, we have listed some helpful resources to help aid you on the road to recovery. 

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