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20 Oct 13 13:49
Date Joined: 27 Nov 10
| Topic/replies: 97 | Blogger: banger2k's blog
Sorry Guys... im a novice really so prob a daft Q. But can someone explain how the tote works and how its such a rip off!!

I saw place bets on here for the 2.15 Kempton & 2.30 Bath for TownMouse & Fitzwilly both at odds of 2.5-2.8.
But as I need money asap, I went the bookies and used the tote forms. Both races came in. But at odds of 1.8!!!

Im fuming. I've been proper mugged off by tote. How comes their odds is no where near what I woulda got off placing the bet on here!

Any ideas?!

Cheers in advance.
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Report ged October 20, 2013 3:05 PM BST
Well one factor is deductions. Betfred keep 16.5% of the pool on win bets. I don't know what the figure is for the place pool, but it's probably similar.

Tote divis have always been inclined to be a bit of a mystery. They are susceptible to rigging - by big bettors; by intermediate operators who put into the pool; and also (in the bad old days), by the Tote themselves (though I'm sure Fred wouldn't do such a thing).

Then sometimes it's just down to liquidity (lack of) and a big bet or 2 skewing the market.

...or maybe it's just a different kind of punter on Betfair having opinions on the place odds on the horse because of the shape of the race.
Report mange October 20, 2013 3:09 PM BST
Tote is a pool...the opperator takes a small % and pays out the rest.all done in units ...pays X for £1..........can be good for outsiders f/c tricast but not Favs & fancied horses normally
Report mange October 20, 2013 3:10 PM BST
Cry,,,usted be 10% ged ?
Report ged October 20, 2013 3:13 PM BST
Peter jones dropped the rate when he was in charge, but Betfred put it back up.....""""to generate more liquidity and give punters a better deal""""
Report mange October 20, 2013 3:15 PM BST
yeh allright Crazy
Report artie October 20, 2013 3:20 PM BST
Betfair is best.
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