In this look at the Placepot I'm going to start with the basics. This is for all those readers who are unfamiliar with the bet or with pool betting in general.
Basically the objective of the Placepot is to try and get a horse placed in the first 6 races of any horse-race meeting. (The Placepot always runs for the first 6 races regardless of how many races are on the card.)
The places you require for the Placepot are exactly the same as they are for each way betting i.e.
In races of 1-4 runners you need to find the winner
Races of 5-7 runners you need to place in the first 2
8 runners+ means a first 3 placing is required unless it's
a handicap of 16+ runners when you can place in the top 4.
So it's simply a case of selecting one horse in each of the first 6 races and hoping they get in the frame. If all 6 do make the frame you win.
Hopefully, a lot! but this will depend on a couple of factors.
Firstly, on how much you stake. You can place anything from 5p to as much as you like on the Placepot but the dividend is always declared to £1.
So if the dividend is £150 you will win £150 for every £1 staked (£15 for 10p, £1500 for £10 etc).
Secondly and the most important factor, on how many other people win.
As the Placepot is a pool bet, the dividend is affected by how many winning tickets there are. It works like this; All the money wagered on the Placepot for each meeting is placed in a pool. The Tote take out their commission and what's left is divided amongst all the winning tickets to produce the dividend. Therefore the fewer winners there are the higher the dividend (and vice-versa).
A perm increases your chances of winning the Placepot but does however cost more to put on. Most of the Placepot bets I do are perms and they simply work like this;
You select a number of horses in each race that you fancy and fill in the Placepot card with each horse. When you have done all 6 races you simply multiply the number of horses in each race together.
Say you did 2 horses in each race then this will cost 2x2x2x2x2x2 = 64 bets. Decide on your stake and work out the cost of your bet by multiplying by the number of bets. In this example for £1 it would be £64 (64 bets x £1) or for 10p it would be £6.40.
For 3 horses in each race it would be 3x3x3x3x3x3 = 729 bets or £72.90 for 10p
You don't have to do the same number of selections in each race and it's sometimes a good thing to have a banker in at least one of the races to reduce the cost of the perm.
Example: 3x3x1x2x2x2 = 72 bets
To work out any winnings you multiply the number of correct selections in each race to find out the number of winning lines you have and times this by your stake.
So, if you did a £1 perm bet with 3x2x2x2x1x4 selections this would cost you £96. You get 2 in the frame in the first race, one in the second and third, both horses in the fourth, your banker wins the fifth and 2 of your last 4 are placed you would have 8 lines up (2x1x1x2x1x2).
The dividend pays £425 so you would win £3400 (8 lines at £1 x the £425 dividend).
In any race there is also the option of putting in the un-named favourite. If you select a non-runner your selection will also now become the favourite. In the case of joint or multiple favourites the horse that is the lowest racecard number is the one that counts.
Finally, the betting slip. It's very easy to use and looks similar to a Lottery ticket (but with more numbers on). The 6 races go from left to right and each race has a column of horse numbers plus the favourite. Each number has a box next to it and to place your bet you simply put a line through the box that corresponds to the racecard number of your fancy.
There's another box for the stake (10p to £100) which again just needs a line through the relevant amount and there's a line at the bottom to write the meeting you require. Don't forget this!
In the second look at the Placepot I'll be having a look at some tips and strategies that may help in getting the bet up.
The first bit of advice I'd give to anyone doing the Placepot is to perm a few selections in each race rather than doing a straight line of only one horse per race. The best way to make money doing the Placepot is to stake small amounts on perms and hope for that freak or large dividend.
SMALL FIELDS (2-7 runners)
When doing a Placepot these are the races that can make big dividends and big payouts. The average punter sees short priced favourites as having more chance of being placed in these types of races as there are less runners. Going against the norm is a good way of betting the Placepot and it's always worth perming extra horses in small fields in the hope that these type of horses are unplaced. In races of 2-4 runners I would even suggest putting all of the runners in a perm.
NON-RUNNERS ON FAVOURITE
Non runners are the Placepot punters worst enemy as your selection now becomes the Favourite and favourites are the horses you want out of the frame. So before placing your Placepot check your horses are running and try to put your bet on as close to the off as possible. It's always an idea to have reserves in mind just in case your selections are absent.
The favourite / non-runner rule can work in your favour though as when really fancied horses don't run and you get the favourite unplaced this really boosts the payout. This famously happened at Newcastle in 2002 when no less than 37 horses were withdrawn. Mayhem ensued as favourites got beaten left, right and centre (including one at 2/7 in a two horse race) and contributed to a freak dividend of £22,121.50
1ST 3 IN RACING POST BETTING
These horses are also the ones you need out of the frame as most people don't have time to really study 6 races and will just go by the betting in the paper.
Horses with a string of 2's and 3's in it's form are obviously going to appeal to your average or lazy Placepot punter so it's always worth studying the form in depth to try and find the less fancied horse or those that don't have lots of recent placed form to it's name. It's worth stressing that the more you try to go against the norm, the more likely you are to get that freak dividend payout.
When doing a perm it's always useful to have a banker in at least of the legs as this can reduce the amount you're laying out.
These are always good places to bet the Placepot at as the starting pool is usually very large. At the Cheltenham Festival £1 million+ pools are the norm which all helps towards that big dividend.
DO's AND DON'Ts....
Try to oppose vulnerable favourites
Try to oppose horses with a lot of recent placed form
Use bankers if you really fancy a runner
Be aware of any Non-runners
Follow the crowd.
Be lazy. Don't just pick the horse with placed form or use the fancied horses.
Forget to name the meeting!!