What is a placepot in horse racing?

If you’ve ever had a day out at the races, you might have heard the term 'placepot'. But do you know what a placepot is? If the answer is no, don’t worry, this guide will tell you everything you need to know.

We’ll be looking at exactly what a placepot is, how it works, and how to do it.

How does a placepot work - important placepot rules

A placepot is a type of horse racing bet, so learning how it works is a key part of knowing how to bet on horse racing. It's actually one of the most popular and common types of bets placed by horse racing enthusiasts, especially those attending the track. Why? Placepots are easy to do, while relatively decent returns can be achieved from very modest stakes.

A placepot is a bet covering the first six races of any given meeting. For example, let’s say there’s a meeting at Ascot. Placepots are available on the first six races of the meeting. All you need to do is select a horse to "place" in each of the first six races, select your stake and you’re off and running.

In horse racing, betting on a horse to place means betting on a horse to finish in one of the allotted places, which typically means first, second or third. If a race contains less than eight runners, there are usually only two places. If a race contains a lot of runners, such as 16, then there are usually four - or even five - places offered. With a placepot, you’re betting on six horses to place in the first six races of the meeting. Easy, right?

The beauty of a placepot is that it can be as simple or as complicated as you like. There’s lots of freedom with this type of bet. For example, you can choose one horse to place in each race, or you can choose multiple horses - though choosing extra horses in each race will cost you more. Choosing more than one horse in each race is called a 'perm'. Not the popular-in-the-70’s hairstyle, perm is short for 'permutation'.

Placepots aren't found on all horse racing betting sites, you need to head to Tote - Britain’s largest gambling pool company. Essentially placepots winnings come from the collective pool made up of the stakes from all placepot bettors. The minimum stake for placepots is £2.00 on course or £0.50p if using the Tote online

How to calculate how much a placepot bet will cost

Before getting your placepot on, it’s usually a good idea to know how much it will cost, and working this out is quite simple once you know how to do it.

If you want to work out the total cost of your placepot bet, you first need to choose all the horses you want to include. Once you’ve done that, simply multiply the number of horses in each race to find out how many lines you have.

Here’s an example:

Race 1 = 1 horse
Race 2 = 2 horses
Race 3 = 1 horse
Race 4 = 3 horses
Race 5 = 1 horse
Race 6 = 2 horses

Using the above example you’d do the following calculation: 1 x 2 x 1 x 3 x 1 x 2 = 12. In other words, this would be 12 lines. You then need to decide how much you want to bet per line. Let’s say it’s £2.00. From here, you just do £2.00 x 12. Therefore, your placepot would cost £24.00 in total.

However, if you want to keep it super simple and choose just one horse in each race, you’ll only be betting one line. If you’re betting £2.00 per line, your total stake will be £2.00.

Read: What is a lay bet?

How to calculate a placepot bet payout

Calculating a placepot win is much trickier than calculating how much a placepot bet will cost. That's because placepot winnings depend entirely on the size of the placepot pool, which is made up of all placepot stakes, and is shared out amongst all placepot winners.

Of course, the more people that win the placepot, the lower the payout for each individual winner. By the same token, the fewer the winners, the bigger the payout.

After each race is finished, placepot payouts are shown (to a £1.00 stake) and updated on the Tote website, so if you’re playing online, you’ll want to check that. If you’re on course, the many Tote screens will show the payout dividends for each race.

Over the years there have been some hefty placepot winners, with punters winning over £100,000 for as little as just a £2.00 stake. Put it this way, if you have a placed horse in each of the six races, you’re in for a nice payout, that's for sure.

Benefits of placepots

The obvious benefit is it’s a great way to spice up a day at the races without going crazy, in a betting sense. You can throw on a couple of placepots without having to get too involved, and you’ll have something to cheer on.

One of the other benefits of a placepot is the fact that you can potentially win sizable returns without needing to stake large amounts.

A third benefit is the fact that you don’t need to have the winner of a race. Instead, you can potentially profit if your horse finishes second or third, and it’s obviously a lot easier to achieve multiple placed horses than it is to achieve multiple winning horses.

Read: What is an exchange bet?

Placepot betting tips

There are many ways in which you can select your placepot, but here are a few tips for doing so:

Look for horses that have a clear pattern of placing in similar races or under similar race conditions.
You want your horse to place sure, but going for the most obvious horses means that you won’t be alone and any potential payouts will be much smaller than if a less obvious horse places.
Keep in mind that big priced placed horses can knock lots of people out of the running, creating a bigger potential payout for shrewd bettors.
If you really fancy one specific horse to place in a particular race, keep to just that horse, which will help to keep your stake down, even if you select multiple horses in other races.

To win the placepot, you need plenty of luck, there’s no getting away from that. But remember, you’re not betting on horses to win, and it’s not uncommon to see big-priced horses place, so don’t be afraid to be different. After all, being a little different could turn you from being a small placepot winner to a much chunkier one.

How to place a placepot bet

Let’s look at exactly how to place a placepot bet, step by step.

If you’re on course, pick up a placepot slip from one of the Tote desks. And if you’re online, simply click the button below to claim £30 of free bets when you bet your first £10 with Tote.
Select the horses that you want to place in each race. Don’t forget you can choose several in one race.
After you’ve selected your horses, check how many lines you’re playing.
Once you know how many lines that you’re playing, select your stake per line.
Following selection of your stake per line, your total stake will be calculated if you’re online. If you’re on course, work out your total stake (as shown above) and write it down.
Lastly, place your bet, by either hitting the button online, or by handing over your placepot slip and cash one of the Tote desks if you’re at the track.

FAQs

How do you win a placepot?

You’ll win your placepot and receive a payout if you’ve selected the placed horse in each of the first six races of the meeting. To be clear, to win, you need a placed horse in all six races.

Where can I put a placepot bet on?

Placepots are typically placed on the Tote, which is available at all UK horse racing tracks. It's not a type of bet available at all UK bookmakers. You can also bet on placepots by using the Tote online, by visiting the website or downloading the Tote mobile betting app.

What is a placepot and how does it work?