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| You are here: Home (Set Price Totalizator) >> Usual Operation The SPT is extremely versatile and can function in many different ways. However, typically it writes set price bets on racing events against a pool which includes normal variable price tote bets. So all the bets are accounted for in the one pool. The SPT writes those set price bets at about the same level as bookmakers’ prices and at slightly lower prices than tote prices. The prices fluctuate during betting. Because the price is decided (set) at the time of the punter’s bet he can choose when to bet to get the best price. Limits are used so that price changes are at generally acceptable levels, and also so that the amount to be paid out on set price bets doesn’t exceed the available pool. But the limits shouldn't affect most punters. The variable price tote punter is protected by the adjustable price difference between the set prices and normal tote prices. The tote operator is protected from a loss of profit by writing bets against the tote pool. The lack of these two abilities was the main problem with previous systems. The difference in prices can be fed back into the pool to actually give better prices for punters who make traditional tote bets, and the system can give even better prices still to punters who provide the early pool by making early tote bets. It is believed that it is a much better and fairer system. Furthermore, because of its impressive list of advantages, it is believed to be inevitable eventually. But without assistance from interested people like yourself, it is a long way off in your area. The Overview and Examples further explain the usual operation of the SPT. However, tote operators and others wishing to implement it may well wish to have further information on the mathematics and precise technical details involved. These are available by contacting us as indicated in About Us. |
