The Doc answers …
Whats a Placepot
A placepot is a Tote bet on horse racing where your chosen horse has to place in the first six races. They are offered by most online bookmakers but the best place to have one is at Totesport. It’s also sometimes called a Tote Placepot.
The winner’s payout comes from a pool created from all the money collectively bet on the day’s placepot. From that pool a 28% deduction is made to cover administration and to return some of the money into the sport. The remaining 72% is paid out as winnings, divided between the winners on the day.
Just remember the number of runners in your race affects the number of horses classed as “Placed”
4 or less runners – Winner Only
5 – 7 runners – 1st and 2nd
8 – 15 runners – 1st , 2nd, 3rd
16+ runners – 1st, 2nd, 2rd, 4th
If your chosen selection is a non runner it’s replaced by the fav in the race if there are joint favourites you get the one with the lowest race card number.
When calculating the total cost of your overall bet, you simply multiply your chosen stake by the number of selections picked in each of the six races, e.g. if you have chosen two horses in each race and your stake is 20p, your total bet would be 2 x 2 x 2 x 2 x 2 x 2 x 0.2 = £12.80 (64 accumulator bets x 20p). The Tote dividend is paid to the pound, so if you have chosen a stake lower than this, your returns will be a portion of this figure.
It is possible to collect a tidy sum from just a small stake but to do this you really need the favorites not to be placed in a couple of the races. Usually if all 6 favourites are placed the dividend will almost always pay less than £25 and in most cases it pays less than £15.
In more that 50% of meetings, the favourite in the first race has the most money on it and if it were a 4 horse race then it’s very possible that the favourite could have 40% to 50% of the total amount riding on it, if that horse loses then the pool has lost half of the tickets.
The average Placepot dividend is £407 to a £1 stake according to latest stats but in most cases is smaller.
Horses with a string of 2′s and 3′s in it’s form are obviously going to appeal to your average or lazy Placepot punter so it’s always worth studying the form in depth to try and find the less fancied horse or those that don’t have lots of recent placed form to it’s name. It’s worth stressing that the more you try to go against the norm, the more likely you are to get that freak dividend payout.