Punters are presented with various options when it comes to betting, and two of the most popular methods are Tote Betting and Fixed Odds Betting. In this article, we look at the differences between these two methods to educate our punters.
What is tote betting?
- Pool-based: All bets go into a pool, and winnings are shared proportionally among winners.
- Dynamic odds: The odds fluctuate based on money bet on each outcome, leading to potentially higher payouts for underdogs.
- No guaranteed profit: The bookmakers take a small commission but don’t hold bets directly.
- Popular for horse racing & soccer: It offers excitement of potentially big wins, but payouts can be unpredictable.
What is fixed odds betting?
- Pre-determined odds: The bookmakers set odds for each outcome before betting opens.
- Guaranteed payout: The winnings are fixed at the time of the wager, regardless of final betting action.
- Bookmaker profit margin built-in: Odds set to leave bookmaker with a guaranteed profit regardless of outcome.
- Wide range of sports & markets: More flexibility in bet types and markets compared to tote betting.
What are the advantages of tote & fixed odds betting?
Tote betting offers dynamic payouts driven by the betting pool, while fixed odds lock in your return before the event. Let’s look at some of the advantages of tote and fixed odds betting.
|
Feature |
Tote Betting |
Fixed Odds Betting |
|
Odds |
Dynamic, potentially higher for underdogs |
Pre-determined, predictable |
|
Payouts |
Shared proportionally among winners, can be large |
Guaranteed based on odds at bet placement |
|
Bookmaker profit |
Commission only, no direct risk |
Built-in margin, profit guaranteed |
|
Popularity |
Horse racing, high-risk/high-reward scenarios |
A wider range of sports & markets, safer bets |
|
Transparency |
Reflects market sentiment |
Can be manipulated by bookmakers |
|
Skill vs. luck |
Rewards identifying underdogs |
Favours luck due to pre-set margins |
|
Excitement and community feel. |
Fluctuating odds, unpredictable and you’re able to join pools with friends |
Certainty of fixed returns |
Choosing between Tote Betting and Fixed Odds Betting is pivotal for punters seeking to refine their betting strategies. Tote Betting, with its dynamic odds shaped by the betting pool, presents enticing possibilities of higher payouts, fostering a sense of camaraderie by joining a pool with your friends or family.
While Fixed Odds Betting offers a more structured and predictable approach, with guaranteed payouts and reduced risk, Tote Betting introduces an element of excitement and community participation. As punters navigate their choices, the appeal of dynamic odds in Tote Betting beckons those who appreciate the thrill of unpredictability and the potential for substantial returns, adding an extra layer of enjoyment to the sports betting experience.