Question about Tote place payouts
 

As i never use tote i'm not sure what the rules are. If you place a bet on a horse to place when there are 8 or 9 runners for example at the time the bet gets accepted, then the race is run and after scratchings there's 7 horses. Do you get paid out if your horse places 3rd like with fixed odds? I'm assuming no..?

I believe if it is not scratched before the scratching deadline you still get 3rd place

hmm not sure what to think...

What did the Tote Operator say?

Late scratchings you get paid out for 3rd with tote. It seems a grey area. While with fixed as long as you get the bet down before the bookie has marked it as a scratching you're good for 3rd place if it's an earlier one.

Not sure about the tote but betfair will pay out for third in that scenario. Also if there are 16+ starters (I think) they pay 4th.

I know Betfair operate under a different rule in some cases because i have been caught before laying a runner for a place when i assumed it was a no third dividend race but they paid third.

Yea i made this mistake the whole first week i started arbing. Luckily it didn't cost me much.

Then there's fake fixed place arbs. They're the easiest money ever haha.

Still not sure about Tote. Think it comes down to whether it's classed as a late scratching with regards to whether 3rd is paid to you.

Can someone answer this:


If I take $100k off a bookie what is the difference to them whether it's through Fixed Odds or Tote?

I still don't fully understand tote so am I taking $100k off the bookie? Or am i taking it from a pool of money and therefore not damaging the bookie's profits?

Thanks.

https://en.wikipedia.org/wiki/Parimutuel_betting

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