Tote Betting
Tote betting is a unique form of sports betting that is only available in Britain, and only available through the bookmaker known as The Tote, or the Horserace Totalisator Board. They are an official British bookmaker with close to 600 betting shops and locations located on the 60 racecourses throughout Britain, as well as operating call centres and internet betting sites. There are a variety of tote bets available, but the most common is the pari-mutuel betting on horse races, as they are the only company in the UK allowed to offer this form of bet.
Tote betting is one of the easiest ways for newcomers to get involved in sports betting, because the availability and relatively low risk of betting pools allows for novices to get their feet wet without really risking anything. The popularity of tote betting is largely due to this factor, not to mention most of their locations are right next to the bars and restaurants of the race tracks, making it impossible for anyone to miss them. It is incredibly simple as well, and all you do is tell the cashier which horse you are looking to back, hand over your money, and wait for the outcome. If your bet wins, you share your money with everyone else in the pool.
The payout for tote betting is less than it is with traditional sports betting because you are sharing your winnings with individuals in a pool. However, the risks are also much lower, which means it is a safer form of sports betting perfect for novices.