Horse Race Betting

horseracebettingIn the United Kingdom and Ireland, Horse racing is exceptionally popular; in fact it is the second largest spectator sport in the UK, after football. The market of betting on horses is said to generate over £3.7 billion every year for the UK economy. The sport is so popular, even the Royal Family (particularly Her Majesty the Queen) love it, and during summer each year, a four day race meeting takes place in Ascot, Berkshire, which the Queen not only attends, but also races her very own horses too.

The sport hasn’t always been all sweetness and light, in fact at one time there was a lot of illegal bookmaking on the sport in the UK & Ireland, and for that reason the sport itself was considered somewhat “shady”.

That is until former British Prime Minister Sir Winston Churchill, stepped in with the intention of combatting and regulating this illegal bookmaking. He and the government under him created the Horse Racing Totalizer board or “The Tote” as it became known, owned and operated by the UK Government. It was created to take horse race bets legally, financially underpinned by the British tax payer, but in doing so it created reinvestment into the sport; helping it to flourish into the huge spectator sport we know it as today.

The Tote was responsible for creating Tote pool betting, which allows a person to placed pool style bets on horse races, with the hope of winning exceptionally large sums. The brand grew exceptionally, before being privatised and sold on to another bookmaker.

If you wish to learn more, and want to try your hand at a Tote pool bet, with the hope of winning millions potentially, then check out our guide on Tote pool Betting.