Placepot Betting Guide For Beginners

horse raceWhen it comes to betting on horse races, you will find that placepot bets are among the most popular wagers to be placed. These bets are quite popular with beginners as well as experienced bettors and they offer a chance to win some major payouts with small stakes.

In this guide, you’ll learn more about placepot betting and find out how to get started with these bets and begin winning some impressive returns.

What is a Placepot Bet?

A placepot bet is a type of bet popular in UK horse racing and you will be betting on horses in the first six races of a meeting. You will essentially choose horses you believe will finish in the places of the race and if they all win, you will win a share of the prize pool. The fun of betting on the placepot comes from the payouts as you never know how much you will win.

Every bet that is placed will be added to a prize pool and the amount is divided by the winners. Since you can bet on multiple horses in each race you will have many great chances at winning. This form of horse betting has become a leading choice for beginners since it is easy to understand and traditional odds do not affect the payouts. You are actually betting against other bettors instead of the bookmaker.

The main advantage of doing the Placepot is that you can place small wagers and still end up winning large amounts. The prize pool often grows quickly with these bets, mainly because many continue to bet on favourites, which increases the dividend when underdogs end up placing.

Best Bookies For PlacePot

The great news is that these days you don’t have to go to the Tote or even open an account with them to bet on the PlacePot. A few of the most popular online bookmakers now offer this service as well. So you can sign up with them and access all the Tote bets right through your online account.

In our opinion, Betfair is the best site to do the PlacePot. It’s fast and easy to make your selections. You can do it all on the one screen in just a few seconds. Check out their latest sign up bonus as well.

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As an alternative, William Hill offer Tote bets as well, although it’s not quite as well designed and easy to use as Betfair.

How Does a Placepot Work?

Before you consider placing a placepot bet, you will want to know how this type of bet works. Each meeting will typically have its own placepot and this will be the first six raced that are listed on the card. The amount of placepot bets will be placed into a prize pool and all winners will split that amount.

When placing these bets, you will have to select the winner in fields that have 4 runners or less. With fields of 5 to 7, your selected horse will be able to finish in first or second place. When there are fields of 8 or more, the selected horse can finish in the top three positions to win. Should the race be a 16+ runner, the paying positions will extend to the top four for the race.

How to do a PlacePot betslip
How to do a PlacePot betslip at Betfair

You might have noticed that the Placepot is actually quite similar to parlay or accumulator betting, but the bets will be placed through the tote and a parimutuel system will be used to settle all of the payouts. The actual number of places that will be paid will be based on how many horses are running in the selected race.

If you want to engage in this form of horse betting you will have to select a minimum of one horse from each race that you think will place. You are free to choose more than one horse, which will add to the excitement, but it will also cost more to place the bet.

How Does a Placepot Payout?

Unlike traditional wagers that are placed on horse races where odds are used, it is not as simple to determine the payouts that can be won when placing placepot bets. It should be noted that if you place a bet on the favourite horse in every race, the overall payouts will be on the low side, ranging from 3 to 15 on average. It is quite unusual for payouts to be less than 6 or 7, but it is possible.

There have been placepot payouts that have been for more than 25,000, though these are uncommon. You will usually have to bet on multiple horses in multiple races in order to generate the largest returns on your wagers.

There is no science to determine how much you can win when you engage in this form of horse race betting. The placepot payouts will be determined by the number of tickets remaining and this will be divided by the pool money. The more bets that are placed, the more money will be in the pool, so watch for popular races that attract much attention if you are looking to win the largest possible payouts.

Strategies to Use On Placepot

Since there is no way to know exactly how much can be won with these bets, it can be beneficial to make use of betting strategies to increase your chances of winning and have the opportunity to win more often. One of the key strategies is to select multiple runners in each race that is being won. While this can increase the overall cost of the wager, you can benefit from some astounding wins.

You will want to make sure your stake amount fits in with your betting budget and avoid getting carried away. To determine your stake, you will just take the number of horses you select and multiply these numbers race by race. For example, if you are betting on 2 horses for all 6 races at a 1 stake, your total cost would be 64.

As mentioned, betting on the favourite in each race will yield lower payouts so it may be better to choose underdogs in some races to boost payout amounts. It will be beneficial to look for horses that are consistent. They do not need to win every race but watch for those that consistently place in the top four positions and choose these when betting. While the favourite may win the race, you will win when the selected horses place in the top positions, so it is better to choose horses that have better odds and have solid chances of placing.

While you may think that betting more will be helpful, this can actually lead to larger losses overall. When betting on the Tote placepot, it is better to bet small amounts so you can bet on multiple horses in different races. The more horses you wager on, the better your chances are of winning, so keep wagers low and bet on more runners for increased winning odds.

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