How To Pocket A Placepot Pay-Out

| March 21, 2013 | 3 Replies

Well, what a week that was!

It started under a mountain of statistics, trends and previews and ended under a mountain of plastic pint glasses, muddy attire and crumpled pound notes.

For my Cheltenham Syndicate members and I the festival was a huge success, with just shy of 40 points profit made over the four days and a cracking time had by all.

If you’d like a taster, you can now take a look at Friday’s live text page.

However, while the whole week was great, there’s one part of the Syndicate that provoked particular excitement and that I’d like to share with you today…

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Placepot Mechanics

Cheltenham Placepot

This is a screenshot of our winning Placepot on Friday…

Interesting isn’t it?

Obviously the profit will immediately catch the eye but, because you should always learn to walk before attempting to run (unless you spot Joey Barton on a night out of course), I’ll start by explaining exactly what a Placepot is.

The aim is simple: pick a placed horse (that’s usually top three or four) in each of the first six races of a meeting.

You can select more than one horse in each race to give yourself a better chance, although that will obviously cost you more.

In the example above we have nine ‘lines’…

This is because in two races we’ve selected three horses and to work out the number of lines, you simply multiply the number of horses selected in each race…

So for this Placepot the sum was:

1x3x1x1x1x3 = 9

You then select a stake per line (in this example it was 0.1 of a point which is £1 to £10 stakes) and that will give you a total stake, which is your line stake multiplied by the number of lines (£1×9 = £9).

The winnings are announced based on a £1 stake, so in this case the winning dividend was 146…

As we had one winning line, the bet won £146 but we could potentially have won £1314 had all lines won i.e. all horses selected in races two and six finishing placed.

Obviously having multiple winning lines is tough as it requires you to pick more than one placed horse in a race and so it’s best to aim for one winning line and stake accordingly, with any extra winning lines a significant bonus.

The bet is a Totepool bet (although it can be placed elsewhere, all bets ultimately go through the Tote) and so the winning dividend depends entirely on the amount of money in the pool and the amount of winners…

This means that while you can technically guarantee a win by selecting the majority of horses in each race, that’s not too clever as you will almost certainly end up losing money – remember that only your stake on winning lines is returned and NOT your full stake.

How To Pick A Winner (It’s Not As Easy As It Sounds!)

You may think that winning a Placepot is easy – after all, you don’t even need to pick any winning horses – but you would be very wrong.

There’s a reason why bookmakers love horseracing multiples and that’s because it’s pretty damn tough to get a treble in, let alone a six-fold…

Add to that the fact that even the best horse can fall, get stuck in traffic or unseat his rider (did anybody see the conclusion to the Foxhunter Chase on Friday?!) and it’s fair to say that you should not go staking your mortgage on any of these bets.

There are ways and means of securing a better chance of a big prize however and so I’m going to finish today’s email with my top six tips (in no particular order) for a meaty Placepot pay-out.

Six…

As tempting as it may be to select four horses in every race, don’t go mad with your stake – if you do, the winners will likely not win that much and the losers will cost a bomb.

I tend to aim for a total stake of between 0.5 and 2 points.

Five…

As I mentioned earlier, the Placepot dividend is announced to £1, so if you bet less than £1 a line, you win less than the dividend (assuming you only have one winning line of course).

While that isn’t necessarily a problem, it’s something to bear in mind and I prefer to have fewer lines and a larger stake per line than lots of lines with a small stake per line.

Four…

It’s not just about winning a Placepot – it’s about winning a ‘good’ Placepot.

Dividends can vary dramatically – they could be £10 or they could be £1000 – and so it’s no good simply choosing the favourite in every race…

In all likelihood at least one will let you down but, even if they do all come in, your returns will be minimal because a large number of other people will also have selected all of the favourites.

Three…

Having said that, it’s absolutely crucial that you don’t get too clever…

If the three placed horses in a race are odds of 4/6, 2/1 and 33/1 it makes absolutely no difference to your Placepot whether you have the 4/6 shot or the 33/1 shot.

Anybody who put a Placepot on at Cheltenham on the Wednesday and didn’t have Sprinter Sacre in the Champion Chase is either an idiot or remarkably ill informed – simple as that.

Two…

You need to be a little bit brave in at least one of the six races – in our winning Placepot I was a little bit brave in four of them!

There are brittle favourites and there are strong favourites and while even the strongest favourite can lose, you should have at least one race (but preferably two or three) with just the one selection in as this will help keep your stake level manageable.

You don’t even have to choose the favourite in these races (Far West wasn’t the favourite and neither was Sir Des Champs), you just have to highlight some horses who you are extremely confident will at least place.

One…

Don’t just put a Placepot on any old meeting…

A Wednesday afternoon at Lingfield with a string of short priced favourites may look like easy pickings but is likely to result in a shoddy dividend.

Instead you should look for meetings with tricky ‘6/1 the field’ races and meetings that are likely to attract lots of pool bets such as Saturday and festival engagements.

The ideal meeting really is the winning one above at Cheltenham…

It was a festival, it had four races where I had very strong fancies and it had two incredibly tough races that were almost certain to bump up the dividend.

As you’ve seen, I was able to go in slightly mob handed in those two tough races AND keep the staking beneath a point.

*****

I could probably give you another six tips here but this email is already rather lengthy so instead I’ll now open the floor to you…

Comments below please!

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Comments (3)

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  1. wja1966 says:

    The biggest tip I can give anyone is make sure you have the right horses before you click BET
    It can leave you looking silly and also out of pocket

  2. James Keily says:

    Hi Matt. Looking at the transaction slip – above – for the Cheltenham placepot, it shows 9 bets @ £1 but there are 10 selections?

    James.

    • Hi James,

      The number of selections is never the same as the number of lines. If you read the text below the screenshot there’s an explanation. It’s all about the number of combinations.

      If you pick one horse in each race then there is only one possible combination so one line (even though there would be six horses in total).

      Regards,
      Matt

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