Parmiter's School Parents' Association

The Tote

News & Events Parmiter's School School Lottery PA Webshop Links


Home
Up     

The PA will be running a Tote system during the evening where you will be able to wager £1 per tote ticket on the racehorse(s) of your choice.

You may purchase more than one tote ticket per race, and you may purchase tote tickets for more than one racehorse in any given race. For example, in Race Three you may fancy £1 on Horse Two and £2 on Horse Four.

A Tote does not offer odds (for example 5/1) against the racehorses. The amount that the Tote pays out on each winning ticket for any given race is based upon the overall amount that was wagered on that race. The Tote (in this case the PA) retains its “cut” (usually anywhere between 40% and 60%) and then pays out the remainder to the holders of the winning tickets.

For the PA Race Night the Tote will pay out 50% of the amount wagered on each race.

The example below illustrates how a Tote system works.

Horse Tickets Purchased Amount Wagered Winnings per Ticket Total Pay-Out
1. Lottery 12 £12.00 £4.17 £50.00
2. Jerry 9 £9.00 £5.56 £50.00
3. Charity 10 £10.00 £5.00 £50.00
4. Gay Lad 12 £12.00 £4.17 £50.00
5. Vanguard 15 £15.00 £3.33 £50.00
6. Discount 16 £16.00 £3.13 £50.00
7. Cure-All 16 £16.00 £3.13 £50.00
8. Pioneer 10 £10.00 £5.00 £50.00
  100 £100.00    

The Tickets Purchased column illustrates how many tickets were purchased per racehorse. For example, 15 tickets were purchased for Horse 5, Vanguard. In all, 100 tickets were purchased for this race.

The Amount Wagered column illustrates how much was wagered per racehorse. This column is simply the Tickets Purchased column multiplied by £1. In all, £100 was wagered on this race.

The Winnings per Ticket column illustrates how much would be won by each ticket holder should that racehorse be the first past the post (ie. win).

For example, a total of 10 tickets were purchased on Horse 8, Pioneer. Because £100 was wagered on the race as a whole, £50 would be paid out on the winning racehorse, which equates to £50 divided by 10 tickets, which is £5 per winning ticket.

Note that whilst the total pay-out on any given race is always the same, the amount paid out per winning ticket is dependent upon how many tickets were purchased for that racehorse.

 

 

Copyright © 2001-2010 Parmiter's School Parents' Association