Features

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The Set Price Tote (SPT) can give punters the price that exists at the time they place their bet and it can do it on virtually all races.

With a traditional pari-mutuel system, which is also known as a “tote” or a “TAB”, the price shown at the time of placing a bet is just a guide and the actual price is known only after the event is completed. That is, it only provides variable prices.

Set prices are decided when the wager is made. Traditionally they have been provided by bookmakers and are known as “fixed odds”. Also, many “fixed odds betting systems” have been proposed which tried to operate much like bookmakers.

However, the SPT works in an entirely different way. It integrates with, and acts as a natural extension of, the traditional pari-mutuel totalizator. Indeed, the main form of the SPT is also believed to be pari-mutuel in nature. Because the SPT functions by means of a completely different principle, it has a number of impressive features not found in other betting systems.

The Single Pool Revolution and More Features further explain some of the features of the SPT but, briefly, they include:

	It is likely to be very popular: thousands of people readily signed a petition; totes have tried for decades to get set prices on races; and even very limited services are popular.
	It is believed that the SPT will increase handle substantially.
	The SPT is fair to all types of punters and can even provide one or two levels of higher variable prices.
	It operates up to race time i.e. in the busiest betting period.
	The tote operator can be protected from a loss.
	The tote can still get the full rate of commission (e.g. 20%).
	Smaller pools, where it is needed the most, will likely see the greatest benefit. But, of course, it works for large pools too.
	It won't just operate on win pools (where only 20 - 30% of betting occurs) but on places and probably multiples also.
	There are few extra ongoing costs; most profit is net profit.
	It can operate in places where only parimutuel betting is allowed. Or, an even more flexible hybrid version can be used.
	A huge development opportunity exists; the SPT fits so well with the existing system that it is virtually inevitable worldwide.