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Drastically Decreased Betting At Totes

By Rkshmed | 30-Jan-2020

In Recent years, Indian Horse racing has seen a lot of changes in view of  Competitors, bettings by punters, and most importantly   Tote Returns on winnings...

Really, Bettings at Tote have come down rapidly nd drastically at race clubs and the Traffic before Bookies increased heavily.... Punters who were betting in thousands some years ago have shifted to bookies and are now playing only hundreds ...that too for Shp...

Though Fixed odds Totes were introduced at Hrc, I don't see much change in the amount played there...

The Reasons seen to be the following

1) Availability of On course(Live) and Offcourse(Nonlive) Bookies.....Nowadays there are several sincere Bookies who  created Whats app groups for regular punters , offering good odds , much better than Regular bookies and giving immediate payouts in return after each race......No need to be at Race course on time in hurry!!

Also Phonebooking available to some regular Punters.

2) Disastrous pay outs at Totes...due to Gst involvement as we know....We may sometimes be paid 8 Rs for win and 12 Rs for place for the same horse.

3)Less number of Runners in a race causing low pay outs at Totes, whereas minimum amount is guaranteed for win or even place sometimes even for favourite.

4)Introduction of online money transfers like UPI Bheem/Phonepe/Gpay/Netbanking and others in use.....has changed thought of 'Cash only' betting at Totes....All above means are accepted by off course bookies...even on the spot payment also there....Depending on the necessity, one can redeposit or withdraw amount..

Regards.

Rkshmed

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2 Replies

Raghavan said ...

01-Feb-2020

Rkshmed,

Yes.  There is facility ofonline betting.  That only means you could bet sitting at home or office.  Other than that, there is no difference.

It is no secret that tote dividend is woefully short compared to what bookies offer.  Even then, there is no escape for those who bet upto 1000.  At BNG many bookies insist on minimum 2200 bet.

What is your problem?  Are you telling that online betting is preferable.  Then by all means go and bet.  But, as I have already mentioned, there is no difference whether you bet with bookies or bet online.  But, I have a nagging feeling that such bets are not legal. So, think 10 times before making any commitment.

Venu,

I think they collect 10% half tax also.  Of course, some say such tax is only for those who win the bet.  Do not know actual position.  Rkshmed maay throw some light on this aspect.

Venu said ...

30-Jan-2020

What about Tax.