Are the SPs 100% identical with the Tote returns?

[Ex RubyLight]

Just had a look at the past results today.

Wolverhampton

17:30 winning SP 9/1 -> Tote return: 10.0
18:00 winning SP 15/8 -> Tote return: 2.88
18:30 winning SP 7/4. -> Tote return: 2.75

Plumpton

15:45 winning SP 6/5 -> Tote return: 2.2
16:15 winning SP 7/1 -> Tote return: 8.0
16:45 winning SP 9/4 -> Tote return: 3.25

Is this new and why? Are racecourses trying to match the SPs?

[broadsword]

I wondered this yesterday, when that 200/1 winner at Exeter paid 201 on the Tote!

[IanDavies]

I don’t bet on the UK Tote, but don’t they guarantee to at least match SP with their dividend?

Btw, this winner was returned at over 800 at Betfair SP, but tbf to the RP, the exchanges have only been around for over TWENTY YEARS so only right to give the RP longer for the penny to drop when writing headlines.

I am "The Horse Racing Punter" on Facebook
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It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

[apracing]

From the Tote website:

Tote Guarantee- Get the best of both

We’ll always pay at least SP on Win bets and if the Tote dividend is greater, we’ll pay out at that price. Tote.co.uk, Tote.ie, Tote App and selected UK and Irish racecourse customers only. Promotion applies to Tote Win and win part of each way bets on all UK and Irish races.
Full T&Cs apply (click more details below)

And the key point in the T+Cs:

Unless otherwise expressly stated in official materials displayed at the Racecourse or agreed by a manager, £500 is the maximum eligible stake per selection per person (or syndicate of people) for the Tote Guarantee promotion on bets placed at UK Racecourses operated by Britbet Racing LLP (see here for full list) (“Britbet Racecourses”). All sums staked in excess of this limit will be settled in full at the Standard Dividend.

[IanDavies]

Well, there’s a surprise (not).

Thank you, Alan.

I am "The Horse Racing Punter" on Facebook
https://mobile.twitter.com/Ian_Davies_
https://www.facebook.com/ThePointtoPointNHandFlatracingpunter/
It's the "Millwall FC" of Point broadcasts: "No One Likes Us - We Don't Care"

[Nafsasp]

Never used to be. Foinavon paid 444/1 on the tote !

My favourite horses - Red Rum, Spanish Steps, Proud Tarquin, Esban, Go-Pontinental, Barona, Charles Dickens, The Dikler, Astbury, Black Secret, Vulgan Town, Huperade, Well To Do, Crisp, Quintus, Argent, Colebridge, Pearl Of Montreal, Nereo, Sonny Somers, Tubs VI, Tartan Ace, Red Candle, L'Escargot, Bula, Beau Bob, Rouge Autumn, Rough Silk, Frodo, Deblin's Green, Prince Tino, Eyecatcher, The Pilgarlic, Captain Christy, Mr Midland, Interview II, Credit Call, My Virginian, Flush Of Diamonds, Scout, Money Ma

[Author]

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