Table of contents
Usage area
This term is commonly used on racetracks.
Description
The word tote, derived from the French totalisateur, is used in three meanings:
- A mechanical device that performs the functions of a counter at the races. It shows the amount of bets that were made on the horse. The term was born in this context.
- The Racecourse Bureau where the players place their bets.
- The process of the game on the run in general.
The essence of the tote as an organization is to ensure that to accept bets from the participants, take a percentage and let the remaining money to pay the winners. In other words, the owners of sweepstakes do not risk their funds, although this does not mean that they can not burn out.
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