What Is Placepot?

A placepot is a form of pool betting that typically takes place in horse racing, though it can also be found in other racing sports like greyhound racing. Here’s a detailed explanation of what a placepot is and how it works:

A Placepot Explained

In a placepot, you are betting on horses to place (finish in one of the top positions, the number of which can vary depending on the number of runners in the race) in each of the first six races at a specific race meeting. You do not need to pick the winner of the race, just a horse to place.

How to Play

1. Selection of Horses: You need to select one or more horses from each of the first six races at a specific racecourse on a specific day. You can choose more than one horse in each race to increase your chances of winning, but this will also increase your stake.
2. Placing the Bet: Once you have made your selections, you place your bet with the total stake being a multiplication of the number of selections in each race. For instance, if you choose two horses in each race, your total stake would be 2 x 2 x 2 x 2 x 2 x 2 (or 64) times the base stake (the minimum amount you can bet).
3. Winning the Bet: To win the placepot, your selections must place in each of the first six races. If all your selections place, you win a share of the total pool minus the operator's commission.
4. Dividend Payout: The winnings are not fixed and depend on the total amount in the pool and the number of winning tickets. The total pool is divided amongst all winning tickets, with each winning ticket receiving a dividend payout based on the size of their stake.

Benefits of a Placepot

1. Potential for High Returns: A placepot can offer high returns, especially if there are a few unexpected results and there are a small number of winning tickets.
2. Engagement Throughout the Meeting: Since the bet covers the first six races, it keeps you engaged throughout the majority of the race meeting.
3. Affordable: It can be an affordable way to bet, as you can place a placepot with a relatively small stake, especially if you only select one horse in each race.

Placepot Strategies

1. Research: Before making selections, it can be beneficial to do research into the horses running, including their form, the conditions, the jockeys, etc.
2. Spread Your Risk: To increase your chances of winning, you might spread your risk by selecting more than one horse in the races where it is harder to predict a placer.
3. Banker Selections: You might choose to have 'banker' selections, where you are very confident about a horse placing in a particular race, allowing you to select more horses in the other, more unpredictable races.

Which Bookies Offer Placepots?

In the UK, several bookmakers offer placepots or similar types of pool betting options, sometimes called tote betting. Some of the well-known bookmakers where you can participate in placepots include:

Tote: As the original provider of placepots in the UK, they offer this type of betting at many racecourses around the country.

Betfred: Apart from owning the Tote for a period, Betfred also offers a variety of betting options including placepots at various race meetings. Find out more about Betfred Tote Bets.

William Hill: This is a well-established bookmaker in the UK, offering a range of betting markets including placepot-like bets.

Other bookmakers which offer placepot include Paddy Power, bet365, Coral and Skybet

Remember, the availability of placepots or similar betting options might change, and it's always best to check with the individual bookmaker's website or customer service to find the most current offerings. Moreover, new betting platforms are continually emerging, potentially expanding the options for placepot betting.

Also remember, as with all forms of gambling, there is no guarantee of winning, and you should only bet what you can afford to lose.