Sports Pool Betting Explained

Pool betting, very similar to tote betting, is a simple way in which to handle the bets placed on an event. Instead of giving betting cash over to a bookmaker, all amounts are placed into a pool. If the bet succeeds, all the cash for that option will be shared amongst the various backers.

All in all, the main purpose of this system is to skirt, potentially creating a bigger payout. However, depending on circumstances, a pool bet may well result in a far lower payout than with a fixed odds alternative.

Horse racing is the most common sport to use pool betting systems, although the same setup can be used for a variety of other sports, such as football.

The Drawbacks

The biggest major drawback of pool betting is that the payout can, and will, vary drastically depending on how many decide to take any given betting option. For example, if 100 bettors decide to back an option, and that bet succeeds, the total pool is divided amongst all 100 winners. If a single bettor places a large bet, but that amount is not matched by others choosing the same option, it can result in a tiny payout that almost makes even placing the bet a useless exercise.

On the other hand, the result can also be highly beneficial, if the opposite situation occurs. It is all largely a matter of chance, and based entirely around various factors involved in the specific circumstances of the bet.

However, some bettors also thrive on this unpredictability, and carefully choose their bet for the best possible results.

Pool Betting Versus Fixed Odds

Very simply, bookmakers provide fixed odds betting options because it produces reliable results. When a bookmaker decides on odds, it indicates the exact amount that will be paid out if the bet is a success. It is this reliability, and predictability, that makes bookmakers professionals in the industry.

Pool betting, on the other hand, is extremely unpredictable, and in itself an enormous gamble. The same bet in a pool bet, versus a fixed odds bet, may be so varied as to make the option unappealing to many bettors.

Type Of Pool Bets

There is a wide variety of betting options available, depending on personal preference. The most common choices are Win, Place and, Each Way. This, of course, involves betting on a horse to Win or Place. Both Win and Place options can be combined into an each way bet.

Exacta bets are for those that are confident about their choice, and involves betting on 2 horses to come in first and second, specifically. A Reverse Exacta is betting on 2 horses, but still paying paid out regardless of which comes first, and which second.

The Swinger is an advanced version of the Exacta. A wager is placed on 2 horses, but these horses can come in anywhere in the first 3 in order to be awarded a payout. It is the perfect option for those who have a good feeling about 2 specific horses, but aren’t confident enough to declare that they will definitely come in first and second.