Few questions regarding placepot from a Newbie ...

[mojo0070]

Hi guys, ive recently been getting involved in a bit of casual betting (lucky 15's etc) and have enjoyed watching the racing and studying form etc. I've heard a placepot is a fun type of bet that keeps me involved in many races for a cheap stake so im going to have a go today at Newmarket. My questions are: 1 - Take this theoretical bet : i have the favourite and second favourite in the first 6 races. im doing it with sky bet so that's 10p a line for a total of £6.40. (not doing this bet btw just asking) Basically i want to know if im definitely going to win at least my money back at the end of the day if i do get 6 places in a row? I know you cant tell me exactly how much i would win, but from your experience, is it safe to say i would? 2 - Do odds matter? or is it just a matter of getting 6 places in a row and a set winnings for everyone? 3 - Am i guaranteed to actually get some money back, even if just pennies, if i win with 6 hot favourites? 4 - Does it just get credited to you at the end of the meeting? Sorry for all the questions, its just that it seems like a fairly doable bet to take on once a week or so for fun, but i don't want to take it on before i know exactly how it works. for all i know i could back 6 favourites today, they all come in a place but i dont win anything lol. Cheers all for any answers you can give me :D

[Haystacks]

Re: Few questions regarding placepot from a Newbie ... Mojo. The placepot payout is determined not by the odds but by the number of tickets people have bought which contain the placed selections (in similar fashion to the national lottery). Favourites and second favourites are invariably overbet in placepots, so any strategy based exclusively on market leaders is likely to be extremely unprofitable. In general, the placepot is only really worth doing if you can find horses to back in races in which a short-priced favourite finishes unplaced, thus knocking out a huge number of other people's tickets. Your account will be credited once the placepot payout has been determined (shortly after the last race). This link may be of use: http://en.wikipedia.org/wiki/Tote_betting#Tote_Placepot