totalisator

A totalisator, also known as a tote, is a pool betting system used primarily at horse racing and greyhound racing tracks and other events. In a totalisator system, all bets of a given event are pooled together. A commission or take is deducted from the pool to create the house margin, and the remaining pool is distributed among bettors who correctly select the winning outcome, with payouts proportional to the size of each stake relative to the pool.

The system operates on pari-mutuel wagering rather than fixed odds. Payouts are dynamic, reflecting the bets placed and the current pool total. Wagering is typically conducted at betting windows or through tote terminals, and results and odds are displayed on tote boards. Modern operations use computerized networks to manage multiple pools and events.

Historically, the totalisator was developed in the early 20th century, with significant early installations in Australia led by George Julius and the Automatic Totalisator Company. The concept spread worldwide, becoming a common form of wagering at racetracks and other venues. In many regions, totalisators have been complemented or replaced by online and terminal-based pool betting systems, though the term tote remains in widespread use.

Advantages of totalisators include reduced operator risk and increased transparency, since payouts depend on the overall pool rather than fixed odds set by a bookmaker. Critics note potential high takeouts, delays, and reliance on track activity. The totalisator remains a foundational mechanism for pari-mutuel betting in many jurisdictions, evolving with digital and on-course technologies.