What is a Placepot Bet?

If you love horse racing, you need to know about placepot bets. This potentially lucrative betting strategy can help you get the most out of your sports betting experience.

But what is a placepot bet? And how can it help you pocket more winnings at the track? Today, we’ll explain everything you need to know about placepot betting and why it could be your next great wager. 

A placepot bet is a popular type of pool betting in horse racing where you choose horses to place in the first six races of a race meeting.

Unlike a traditional win bet, where the objective is to pick a horse to win a specific race, the placepot requires your chosen horses to finish in the top positions (usually the top two, three, or four, depending on the number of runners in each race).

This bet type is popular for its potential to deliver substantial payouts from relatively small stakes, making it an attractive option for both casual and seasoned bettors.

How placepot betting works

To participate in a placepot bet, you must select one or more horses to place in each of the first six races at a race meeting. The specific placing requirements (top 2, 3, or 4) vary depending on the number of runners in each race. If all your selections meet the placing criteria, you win a share of the total pool, which is divided among all successful punters.

You can increase your chances of winning by using "perms" (permutations), which involve choosing multiple horses in one or more of the races.

For example, if you choose two horses in each race, you create a combination bet that covers all possible outcomes involving those horses placing.

While this strategy increases the likelihood of success, it also raises the cost of the bet proportionally to the number of combinations covered.

Now that you understand what a placepot bet is, it’s time to look at some common terms you might see associated with this type of wager.

What is a line in a placepot bet?

A line in a placepot bet refers to a single combination of selections across the six races. When you choose one horse in each race, you are creating one line.

For instance, selecting Horse A in Race 1, Horse B in Race 2, and so on through Race 6 constitutes one line. The total cost of your bet will depend on the number of lines you have, with each line representing a unique set of selections that must all place for you to win.

What is a perm placepot bet? 

Short for ‘permutation’, a perm placepot bet involves selecting multiple horses in one or more of the races to cover various combinations. This strategy increases your chances of winning by allowing for multiple potential outcomes.

For example, if you choose two horses in each of the first two races and one horse in each of the remaining four races, you are creating multiple lines (or combinations). The total number of lines in a perm bet is calculated by multiplying the number of selections in each race.

While this increases the cost of the bet, it significantly boosts the likelihood of having at least one successful combination.

What is a Tote placepot bet?

This term refers to placing your bet through the ‘Tote’, the official pool betting organisation in the UK.

Tote placepot bets are pooled with those of other punters, and the total pool (after deductions for administration and profit) is shared among the winners. The Tote system ensures that the payout is determined by the total amount of money in the pool and the number of winning tickets, making it a pari-mutuel betting system.

Tote placepot bets are popular at racecourses and through online betting platforms that offer Tote services.

To win a placepot bet, all your selections across the six races must place according to the race's specific placing criteria. If one of your horses fails to place, your bet is lost. However, the potential rewards can be significant due to the pool betting system.

The payout varies depending on the total pool size and the number of winning tickets. Fewer winners typically result in higher individual payouts, making placepot betting an exciting and potentially lucrative option for horse racing fans. 

• Potential for large returns: Placepot betting offers the chance to win substantial payouts from a relatively small stake
• Increased excitement: Betting across the first six races of a race meeting is a more involved, exciting experience