Tote
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I was on Fred’s and see that they”re doing a 50% back on losses up to a £25FB” on Tote racing.
I get the concept of the Tote and this seems like a reasonable deal. (Not checked Totesport but assume they have it too).
So when I was looking at the racecard, Tote prices are quoted as estimated returns based on the pool. I saw a couple where the estimated return per £ was way higher than than the exchange lay. I’ve had a shot on something that seems like a 6.3/4.4 arb. Now of course the 6.3 is an estimate, which may be the downfall of my thinking.
What’s potentially interesting is that (a) given how the Tote works I would think that arbs might come up more regularly, (b) gubbings and restrictions may be less common as you’re not against the bookie and (c) they claim 9% better odds than the bookies (against SP I would think).
In theory it’s hard to see how it can be better than straight exchange trading as the Tote deduction is bigger than an exchange commission, which means I’m probably doing something wrong.
