Hollywoodbets Sports Blog: What is an Open (Tote) Win?

What is an Open (Tote) Win?

The Open Win, also known as the Tote Win, is when you bet on a horse to win a race. 

You do not get a fixed price of the horse, but instead you get a dividend that is declared at the end of the race.  

All the money that is invested on the tote is put into a pool and after deductions the net pool is shared amongst the number of winning tickets in the race.  

Hollywood will pay your bet out according to this dividend
It must be known, that when betting on the tote, your stake is included in your payout.

If the dividend of the horse that wins the race is R5.00, this means that if you put down R1, you will receive R5.00 (this R 5.00 includes your R1.00 stake).  This gives you a profit of R4.

If the dividend of a winning horse is R1.80, theoretically this means that the odds on the horse are 8/10.  This is because if you put down R10 on the winning horse, you will receive R18. Because your R10 stake is included in the payout, your profit is R8.

If you bet on a tote win, and your horse is scratched, your bet will be void and you will receive your stake back on single bets.

The 6% taxation taken on Fixed Win bets is not applicable to winnings on tote win bets; because the tax is taken off before the dividend is declared.