What is Pool Betting?

Pool betting is a general name for a very popular form of betting most people are familiar with. The football pools, the National Lottery, and your standard office sweepstake are all examples of pool betting. It could be argued that even poker, where all the money goes into a central pot, is effectively a betting pool.

Unlike fixed-odds betting, with pool betting a winners payout is not known until the pool is closed and the number of winners is determined. With pool betting you are betting against the other players in the pool and not against the bookmaker.

Usually a pool bet involves paying a fixed price for a ticket and making a selection or selections on an outcome related to sport. The pool betting operator takes a percentage of the final pool as a commission. The remainder of the betting pool or 'prize pool' is then divided amongst the winners - those who have made the correct selection or selections.

The amount a winning ticket is paid depends on the total number of ticket entries in the pool, the number of winners, and of course, the percentage commission charged by the operator. The maximum you can win is the total value of the prize pool.