Tote Sport has been around in the UK for many years now. It originally started of as a government protect allowing customers to safely place bets on various racing events. The profits from which would go to charities or government projects. A few years ago sports betting giant Befred bought out totesport and now runs it side by side with betfred.com (the two sites look very similar and have the same promotions, free bets and even odds).
Totesport is run differently from traditional sportsbooks (though they do have the usual sports betting markets). The main aim is to create huge prizepools by having large amounts of users enter various competitions. These competitions range from picking 6 winning horses over a certain meeting to picking the finishing positions of the 1st 3 horses in a single race. The amount users can win will vary depending on how much people enter, the cost of each entry and the amount of winning lines. For example if a lot of outsiders win then there will be lesss winning lines and the prizes will be higher. However, a lot of the favorites win then there will be lots of winning tickets creating less money for each ticket.
This is probably the most poplar tote betting market. Users must correctly predict the winning horse from 6 different races. These races will all be on the same day (usually Sat) and may be spread over different meetings. Betfred now chose which races will qualify for scoop6 so they often go for races with lots of horses, thus creating less winners but biger prizes for winning tickets. Players pay £2 for each line and can create as many lines as they wish. If the player doesn’t get all 6 correct there are other prizes if all your horses place. Ofcourse, the place fund is much lower than a win fund is usually less than £100 per ticket. The amount you win for all 6 correct depends if there is a rollover (scoop6 has been known to rollover a lot, creating up to £15,000,000 in prize funds) and how many winners there are. i.e. £10,000,000 win fund with 10 winners pays £1,000,000 each. As well as the win fund their is also a bonus find in which the winner that week much pick the winning horse for a race next week. If he gets this correct then he wins the bonus fund which is often as big as the win fund.