Tote Odds

Tote Odds refer to a type of betting where payouts are determined by the total amount of money wagered in a pool for a specific race. Instead of fixed prices, the odds fluctuate based on the betting activity of other punters, with the final payout calculated after deductions and distributed among winning bets.

In Australia, there are three totes:

• TAB (VIC)
• NSWTAB (NSW)
• UBET/UNI (QLD, SA, TAS & NT)

If a bookmaker is simply offering you Tote Odds (TO) and not another tote product like Top Tote (TT), then there Tote Odds (TO) you will receive are for the state in which your bookmaker account is based in. Whereas a tote product like Top Tote (TT) will pay you the highest of the three totes and a tote product like Mid Dividend or Mid Tote (MD/MT) will pay you the middle price of the 3 totes. To go even further, exceptional tote products like Top Tote Plus (TT+) will pay you the highest of the totes or Starting Price (SP).

Advantages

• Tote odds allow punters to benefit from upward movements in payouts, as they are determined by the total pool and may result in higher returns than fixed odds.
• Pools can offer attractive payouts, particularly in races with unpredictable outcomes or fewer punters.

Disadvantages

• Payouts are uncertain until the pool closes, so punters cannot lock in a guaranteed return at the time of betting.
• Heavy betting on a particular selection can lower the payout for all punters backing that option.