What is the difference between fixed odds and tote

You've watched replays, done your speed maps, assessed the form, read some h orse racing betting tips and have formed an opinion on all the runners in the race. You're now ready to back the horse you think is the 'value' Seems a bit daunting for the novice. There is no easy answer to the best way to back the horse you like, although we will say, you need to be aware that with Fixed Odds betting the margin is firmly in the bookmakers favour.

If you are not super confident in your assessment and prices, we'd actually recommend backing Best of the Best or Best Tote, as the margins are tighter and more in your favour as a bettor. However, if you are very confident a horses current price is too high, obviously you should lock that price in and bet it 'Fixed Odds' so when the money arrives and the horse shortens on the totes your price is safe and secure.

Fixed odds is are high margin product because the Bookmaker is protecting itself against price fluctuations and getting there price wrong. When you bet the fixed price option then you are locking in that price for the horse. It will never move shorten or rise after your bet has been struck like a Tote or Top Fluc bet can that is dependent on other money coming into the system. The rock solid product that is readily available at almost all online Australian bookmakers.

That APN is reflective of the bookmakers betting on track and only comes into effect in the last twenty minutes of betting. That starting price is the official APN price when the race starts, it rarely is a price greater than the best of the three totes but occasionally you'll get one that is overs. The holy grail of racing products. You get all of the above plus most importantly you'll get the top fluctuation see below , whatever price is best! There are a handful of bookmakers in Australia including Top Sport, Ladbrokes , Luxbet and Palmerbet that carry this product and if you can take it, especially on race day, it is highly recommended.

Remember the on course fluctuations APN we spoke about above? Fixed odds betting is very common in online betting as most bet types incorporate fixed odds. Fixed odds are used heavily in horse racing. There are many bet types in horse racing betting that use fluctuations in the fixed price at any given time to provide a more appealing product to the bettor, eg. Top Fluctuation. Horse racing betting also incorporates a pari-mutuel betting system , that is not used for sports betting.

The fixed odds betting example shows the fixed win and place prices as opposed to the tote win and place prices for three horses. The Best Tote Plus price is only an estimate, and if selected, this price is only confirmed at the close of betting. Both fixed odds betting and tote betting have their virtues. Many horse racing products that provide more value than fixed odds. At the top of the list is the Best of the Best betting product.

However, when more useful products are not available, fixed odds prices provide certainty to the better, whereas the tote prices are always prone to fluctuation.

Fixed odds are the only prices available on betting exchanges. Although the exchanges operate slightly differently, in that bets are matched against other punters, the exchanges use fixed odds betting.

The price that you take is the price you will be guaranteed no matter how the price fluctuates after the bet. All bets on the race are pooled together. The bookie deducts his percentage and the rest is distributed amongst the winners. The only advantage that I can see for tote betting is for those who bet on an outsider because there would be less punters to share the winnings with. I may have to try a tote bet to before I can answer this honestly.

Then again with a tote bet it all depends on whether the horse that run was a favourite or an outsider and how may punters you have to share your bet with.

For now I think I will stick with a fixed bet. At least I know exactly what my winnings will be when my horse crosses the finishing line. Best Tote Betting Definition I think the most in depth tote betting definition can be found on Wikipedia!