Placepot betting in horse racing is a popular choice among horse betting punters due to the opportunities this betting style offers. As a placepot bet allows punters to win a share of the placepot pool, it can return substantial dividends.
Based on the simplicity and the continued popularity of placepot bets, this article will provide assistive information about placepot betting. It will also explain what placepot betting is, provide a list of advantages and disadvantages, and list the top 5 bookmakers for placepot betting.
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Top 5 Bookmakers for Placepot betting
Due to horse betting being a popular pastime in the UK and worldwide, many bookmakers offering horse race betting is substantial. While this is good news for punters, choosing the right bookmaker for placepot bets isn’t as easy as it seems. Therefore, we have researched the top 5 bookmakers for placepot betting and included a brief description below about each.
- Pros
- Superb Placepot bet betting options
- Free tote live streaming
- Mobile-friendly
- Placepot live betting is available
- Cons
- Placepot bets outsourced to the tote
- Pros
- Live streaming of placepot events via Racing TV
- Access to the Bet365 results page
- Live streaming of local and major international events
- Cons
- Must be a registered member to access live streaming and results page
- Pros
- Live streaming for major placepot bet events
- Features build a bet and other options suitable for placepot bets
- Competitive placepot/tote odds
- Cons
- Live streaming of placepot races limited to the UK and Ireland
- Pros
- Live streaming of placepot races via ITV
- Preferrable horse racing odds for placepot betting
- Tips and advice via the Betway blog
- Cons
- A limited number of placepot bet opportunities
- Pros
- Access to live streaming for races offering placepot odds
- Preferred placepot betting odds
- Best odds guaranteed for placepot bets
- Cons
- Does not offer placepot race analysis
What Exactly is Placepot betting?
The placepot bet meaning is essentially a parimutuel betting market based on the first six races of a racecard. It requires punters to back horses to place on a specific racecard, and if desired, they can select more than one horse for each race. However, the more horses are based, the stake cost is multiplied.
How Do Placepot Bets Work?
Placepot bets work the same as they always have and are based on six races of a racecard. The total amount staked goes towards a prize pot and is split amongst those who successfully back a winner.
The mechanics of placepot betting is pretty simple as the main objective is to pick a horse you anticipate will place in the first six races of a race. If correct in your picks, you will win a portion of the bet based on pot size and the number of bettors deemed winners.
Resultantly, placepots today are popular betting options as they offer substantial opportunities on long shots. They also allow bettors to bet on multiple horses to place in a race and have the option to pick one horse to place in four races and two in two races, thereby increasing their stake and their odds of taking home a share of the pot.
How to make a Placepot Horse Racing bet?
Making a placepot bet online is quite simple. It emulates how one bets on any other horse race or sporting event. To better understand the process of making a placepot bet, we have written an example.
- Visit the choosen sportsbook and log into your account.
- Choose the Horse Racing option from the navigational menu.
- Using the drop-down menu, select “Tote” from the list of options.
- Make your selections for each race.
- After selecting your horses, enter the amount you want to stake.
- Lastly, click the button to Place your Bet.
Are there any terms and conditions for a Placepot bet?
There are some rules to follow when placepot betting relating to the number of horses you must back for each race. This is dependant on the number of runners in the race and is as follows:
- 4 or fewer runners – you must select the winner;
- 5 to 7 runners – you must select the horse to finish in first or second;
- 8 to 15 or more runners – you must select the horse to finish in first, second or third;
- 16 or more runners – you must select the horse to finish in first, second, third and fourth.
What are the places in the Placepot?
The places considered for a placepot race vary depending on the number of runners for each race. Understanding the places is similar to understanding the terms and conditions for making a placepot bet. As the number of places is dependant on the number of runners, the places in a placepot are as follows:
- Up to four runners – one place;
- Five, six or seven runners – two places;
- Eight to fifteen handicap runners – three places;
- Eight or more non-handicap runners – three places;
- Sixteen or more runners – four places.
Pros & Cons of Placepot Bets
There will always be advantages and disadvantages to any type of bet, whether placepot betting or parlay betting. As placepot bets are a unique parimutuel betting market, we have included a list of advantages in favour of placepot betting and a list of disadvantages to consider before placing your bet.
- Advantages
- Potential for substantial returns
- Can back multiple winners under one bet
- Can make multiple bets to improve odds
- Offers action on an entire racing event
- Disadvantages
- The odds of winning are low
- No fixed pricing
How to calculate a Placepot bet?
How to calculate a placepot bet is easily achieved by using a placepot bet calculator. The placepot bet calculator will base your winnings on several variables, including the staked bet and the number of winning lines. To determine the amount you have won, simply multiply the number of winning lines by your staked bet.
For example:
If you placepot bet with a £1,000 prize pool for a £1 stake and have six winning lines, you have £1 in winning bets. Therefore, your winnings would be £1,000 of the published winnings.
Which events have the largest Placepot pools?
Like all betting markets, certain horse races are better suited than others and offer increased opportunities. As each of the races mentioned below generates international attention, the placepot pools generally increase substantially. Resultantly, the events with the largest placepot pools are seen include:
- The Cheltenham Festival;
- The Grand National;
- The Royal Ascot;
- The Derby Stakes.
How to Win with a Placepot Bet?
To win with a placepot bet, you will need the horses you chose to place in any event’s first six horse races. However, there is a little more to this than meets the eye, as how many places pay depends on the number of horses running in the race.
- Therefore, due to this ranging from one place to four, some advice can come in handy towards helping increase your odds of success.
- Bet on the underdog as the biggest payouts come from those not favoured to place in a race.
- If a race has more than eight runners and is difficult to judge, improve your odds by betting on multiple horses.
- On the flip side, always bet on the favourites as “Bankers” are suitable selections for placepot betting.
4 Tips for Success in Placepot bets
Regardless of the type of betting you are making, there are some standard tips in placepot bets that go the distance for betting responsibility and improving your overall rate of success. While the tips below may seem simple enough, they are worth noting as they can be used when betting on sports other than horse racing.
1. Analyse the form of participants
There is nothing worse than betting off the cuff and basing your selections on your “gut instinct”. By reviewing the latest horse racing results, you can study the form of participants and gather detailed information that will assist you in making educated picks.
2. Try Multiple Lines in Competitive Races
Try strategically betting on multiple lines in competitive races. This will help to improve the odds of sharing in the placepot prize pool. Likewise, it could result in your winning multiple shares on the placepot prize pool.
3. Take a look at vulnerable favourites
Look closely at the vulnerable favourites and determine their odds of placing based on statistical information available pre-race. By studying the vulnerable favourites, you may find other horses to offer better odds.
4. Find the value in odds
Finding value in odds should always be a consideration when placepot betting. The odds are critical in determining a horses ability to place first in a race. More importantly, when placepot betting on races with eight or more runners, finding the value in odds takes on an even greater level of importance to the increased places.
FAQ about Placepot bet
How are the Tote Placepot winnings calculated?
Tote Placepot winnings are calculated on the number of winning lines and the amount that was staked. To better understand this, you can practise calculating winnings by using past tote placepot results.
How many lines should exist in a Placepot bet?
The number of lines that should exist in a placepot bet is multiplied by the number of lines you have in race one. This is multiplied by the lines in races two, three, four, five and six.
What happens if my pick is a non-runner?
If your pick becomes a non-runner, your bet will be switched to the favourite, or if a race has co-favourites, your bet will be switched to the horse with the highest racecard number.
How to pick the right horses in a Placepot bet?
The best way to pick the right horses in a placepot bet is to bet on the horses with the best odds of placing and analyse their form.
Can I place Placepot live bets?
Yes, depending on the bookmaker, you can place placepot bets live.
Is Placepot bet worth the effort?
In 2019, a bettor made a £2 placepot bet on the Cheltenham Festival and won £182,567.80. So yes, a placepot bet is an excellent choice as it can return considerable returns for a small amount staked.
Conclusion on Placepot Bets
One of the attractions to Placepot bets is it is similar to a lottery, with the difference being the use of calculated odds. Considering a small bet can return substantial winnings, it is a popular type of bet that is fun and logical to an overall betting strategy. For casual punters, it offers an affordable entry into horse betting. For seasoned bettors, it provides the opportunity to apply their knowledge and skill.