'Tote' is short for totalisator and Tote Betting is similar to the Lotto. It works like this: all the stakes on a race are pooled, a deduction is made to cover costs and the Tote's contribution to racing. The remainder of the pool is divided by the number of winning units to give a dividend that includes your €1 stake.

In other words, Tote customers bet into a common pool, betting against one another, whereas in bookmaking, they bet against the bookmaker. Tote odds will fluctuate according to the amount of money staked on each horse. Unlike when betting with bookmakers you cannot take a price, you only receive the dividend announced after the race. Therefore if you are considering a big bet it is often prudent to put it on in the bookies as such a large bet on any horse may dramatically shorten its odds. Having said that on average the Tote dividend is greater than the bookmaker starting price. Betting ceases at the "off" of every race.

How to bet on the Tote

You can go to a manned window and communicate to a Tote Teller the bet you wish to place or you can purchase Tote vouchers and use the Touch-Tote machines - these are often less busy at the Christmas race meetings.

Simply go up to the Tote window and give the operator the following information

• The race meeting (if you do not specify it is assumed you are betting at the meeting you are at).
• The race number (if you do not specify it is assumed you are betting on the next race off).
• The amount you wish to wager.
• The type of bet.
• And the number of the horse.

Tote betting is also available online at www.tote.ie where you can place all the below bet types. Please click on the below link if you wish to set up a Tote account.

Type of bets

Win:

Pick a horse to finish first.

Place:

• Pick a horse to finish in the first two for races of 5 to 7 runners.
• Pick a horse to finish in the first three in races of 8 to 15 runners.
• Pick a horse to finish in the first four in races of 16 or more runners.
• There is no place betting in races of 4 or fewer runners.

Each way:

Back a horse to win and be placed. A €2 each way bet costs €4, €2 win and €2 place.

Exacta:

Also known as a straight forecast. Select the 2 horses to finish first and second in specific order.

Reverse Exacta:

Pick the first two horses home in any order. A €1 reverse exacta costs €2.

Trio:

Pick 3 horses to finish in the first three in any order. There must be at least 8 horses running for this bet to be offered.

Jackpot:

In order to win the Jackpot you must pick the winners of the 3rd, 4th, 5th and 6th races. No mean feat. You can pick one or more horses in every race. Mark your Jackpot out on a special Jackpot payslip supplied around the Tote windows and hand it to the operator before the start of the third race.

Placepot:

This bet is one of the most popular bets in England and Ireland. The objective here is to pick a horse to be placed in every race from the 1st to the 6th. You can pick one or more horses in every race. Mark your Placepot out on a special Placepot payslip supplied around the Tote windows and hand it to the operator before the start of the first race. The minimum unit stake is 10 cents and minimum total stake is 1 euro.