As bookmakers search for more and more ways to win customers or maintain the ones that they’ve already got, they will turn to promotions in order to become more appealing. Coral has the ability to do something a little bit different with the Tote, so punters can look to take part in the guaranteed Placepot prize pools offer that they have. The deal sees one meeting a day given a guaranteed price pot of £50,000, whilst on Saturdays that can be enhanced to become £150,000. The key point is that there is a guarantee in place that it will be worth a certain amount.
What We’re Talking About
In simple terms, the company offers punters the chance to take part in a Placepot, guaranteeing that it will be worth a specific amount. Of course, you would do well to understand how Placepots work before you even think about placing a bet that involves the promotion. The Placepot covers the first six races that are taking place at a specific meeting, with payouts being given to customers who correctly predict six placed horses across those races.
Ordinarily, Placepots will have a prize amount that is dictated by how many people choose to place bets on the race, with a percentage of each wager being paid into the prize pot. The joy of Coral’s promotion is that it guarantees a certain amount of money being available for anyone who wins it, so the exact number of participants is irrelevant. Imagine, for example, that the number of bets placed on a given meeting’s racing is enough for a prize pot of £36,431. That would obviously be a good amount to win, but if the meeting is part of this promotion then that amount will be increased to £50,000.
What You Should Know
Many of you will be familiar with how Placepots work thanks to the other bets that you’ve been placing, but some will be unsure and only know about it as a thing because of the promotion. Placepots in general are available with Coral across all racing that takes place in Ireland and the United Kingdom, which is something worth bearing in mind. You can have as many selections per each race as you would like, but it’s important to know that adding horses to each race will also cost you more money when it comes to the placing of your bet.
That is to say, having one horse in each race would result in your Placepot bet having one line. If you then decided to cover a second horse in one of the races, then you would be adding a line. This then makes your bet more expensive, so it is something that you need to think about before you place your wager. You might decide that it is worth it for the meetings with an enhanced guaranteed pool in place on it, but you should only ever place the bets that you were going to place originally and not add more lines or make your bet more complex because of a promotion.
It Isn’t On All Meetings
A really important thing to think about when it comes to the promotion is that it is not in place across all meetings. Instead, Coral will select a meeting each day to ensure there is a guaranteed pot in place on that particular meeting. That means that you should check out which race meeting is being covered if you would like to take advantage of the promotion. Bear in mind, though, that this isn’t saying that there will be a guaranteed winner. Instead, it is just the case that if anyone does win, they will be guaranteed some or all of a specific amount of money.
The key thing about Placepots is that you don’t get paid odds in the same way as you would with a normal bet. Instead, you’re paid a share of the pot, depending on how many horses you correctly identified as finishing in the places across all of the races taking place at the meeting in question. To put that another way, if there is a guaranteed £50,000 on offer and two people select six horses that place in the six different races, they will win £25,000 each. On Saturdays, the guaranteed pot is increased to £150,000, so it would be £75,000 each in that example.
Why Coral Offers It
On the face of it, you might well wonder why it is that Coral are promising a guaranteed £50,000 Placepot on a meeting every day and one of £150,000 on a Saturday. After all, it is a large amount of money that they are saying that they will give away no matter how many people place bets on the meeting. The simple answer is that they know that they will appeal to more people than normal for the race meeting, so they will almost certainly get enough bets to cover their costs. There is also a hope that people will turn to other markets whilst they’re logged into their account, making more money for the company that way.
Many people who wouldn’t normally opt for a Placepot will look to do one thanks to the offer, which is something that we would always tell you not to do. If you haven’t done the usual amount of research that you would do before placing a bet then avoid doing so simply because there is a promotion like this available. Companies depend on people placing bets that they wouldn’t normally place in order to ensure that they don’t lose any money, so don’t be one of the people who does.
Offer Terms and Conditions
Guaranteed Placepot prize pool of at least £50k on selected daily meeting. Saturday’s will have a guaranteed Placepot of at least £150k on the selected meeting. Dividends declared to a £1 stake. Terms and Conditions apply, 18+.