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Dave jay
I reckon if the British Tote had a 12% take-out on the win market, Betfair would be worried.
Interesting statement from Dave imo
to make it attractive to punters, would it need to be lower in your opinion?
No 5% commission, for everyone who doesn’t post on the betfair forum.
I’d move for 12%.
If the Tote reduced their take out to 10% I reckon they would win business and pool betting in this country would be viable for a lot more punters. As has been discussed on here in recent months the size of pools in places like Hong Kong are big enough to entice professional syndicates to operate.
I am completely anti pool betting at present but would probably get involved at the 10% mark.
How many people actually know what the takeout from the win pool is at present – I wouldn’t be certain of the answer without doing some research.
AP
Tote deductions prior to 18 March 2003
Win pool 16%
Place pool 24%
Exacta 24%
Trifecta 29%
Jackpot 29%
Placepot 27%
Scoop6 30%After 18 march 2003 (From Sandracer)
totewin deduction 13.5% net pool = 86.5% of stakes.
toteplace deduction 18% net pool = 82% of stakes.
toteexacta deduction 24% net pool = 76% of stakes.
totetrifecta deduction 29% net pool = 71% of stakes.
totejackpot deduction 29% net pool = 71% of stakes.
toteplacepot deduction 27% net pool = 73% of stakes.
totequadpot deduction 26% net pool = 74% of stakes.
totescoop6 deduction 30% from each pool net pool = 70% of stakes.Has reported by the BBC at time of reductions
Punters handed £4m boost
Punters should see better dividends from Tote pool betting
British gamblers are being given a major incentive to use the Tote’s betting pools.
Tote chairman Peter Jones is staking £4million on punters as deductions for win and place betting are slashed.His move comes just days after the organisation agreed to pay a total of £300,000 to racegoers hit by a system breakdown at the Cheltenham Festival.
Everyone on Cheltenham’s mailing list will be offered a free £10 bet with the Tote after its computers crashed before the feature race – the Gold Cup, sponsored by the Tote.
Under the new scheme, the deduction taken from the place pool will be lowered by a quarter from 24% to 18% and the win deduction from 16% to 13.5%.
It means more money will be available for dividends to gamblers who pay into the Tote pools.
Jones is introducing the move to coincide with the start of the Flat turf season at Doncaster on Thursday.
However, he warned that if pools do not increase within the first six months, the situation could be reviewed by his board.
The cost of the decreased deductions at last year’s levels is expected to reach £4m out of a total profit of £17.5m that the Tote made from horse racing last year.
These sort of deductions are the lowest in the world
Tote chairman Peter Jones
But Jones is confident ultimately higher pools and an increased return for racing will be the end result.
"These changes will raise the profile of pool betting with the Tote and make it even better value," he said.
"A win bet on the Tote will now beat the SP in most races and our reduced level of deductions is the equivalent of giving £4m a year back to punters.
"These sort of deductions are the lowest in the world and no other Tote has the level of competition we do from fixed-odds betting on and off-course.
"We will never change the betting patterns of many regular small-stake punters.
"But if we can get the sort of pools we do at Royal Ascot and Cheltenham for every race every day then we will begin to attract a larger punter who can place his bet without worrying that the odds will be reduced."
Jones said he hoped that by decreasing the takeout, punters would be more likely to directly compare win payouts on the Tote with starting price returns.
totewin deduction 13.5% net pool = 86.5% of stakes.
toteplace deduction 18% net pool = 82% of stakes.
toteexacta deduction 24% net pool = 76% of stakes.
totetrifecta deduction 29% net pool = 71% of stakes.
totejackpot deduction 29% net pool = 71% of stakes.
toteplacepot deduction 27% net pool = 73% of stakes.
totequadpot deduction 26% net pool = 74% of stakes.
totescoop6 deduction 30% from each pool net pool = 70% of stakesWhen i remember correctly the Tote wanted to reduce takeouts even further,however,their was some protest and threats of litigation from the Bookmakers so they made the compromise as seen above!!
Despite reduced “takeouts“ the pools are still struggling, it`s actually amazing that the Tote think its normal to take 29% from the jackpot pool and 30% from the Scoop 6, unlike with the win pool the Tote can hide behind their monopoly on such bets, 29 and 30% is a disgrace in my opinion!!
Full on course rules for those who want to pass on a couple of minutes
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