How Do ToteDaddy Events Work?

How Do ToteDaddy Events Work?

All events on ToteDaddy are tote-based (also known as pool) bets. This means that punters bet on the selections offered, and the total pool (less deductions) is divided amongst the winners once the results are known.

What makes ToteDaddy unique is that it is the users who create the events (referred to as the “bookie”). When creating an event, the bookie needs to set:

- What the event is all about

- What the betting selections are

- When the event will be closed to betting

- When the results for the event will be posted and winnings paid

- How much the bookie wants to set aside as a “bookie fee”. This amount can be between 0 to 95% of the total pool, and is deducted from the total pool and paid to the bookie.

- Which selection is the “Bookie’s Pick”. The bookie must bet a minimum of $10 on the Bookie’s Pick to get the event started.

Once the results are known, the bookie for that event will post the results, at which point winnings are paid out.

It is important to remember that all event information, including the criteria for selecting the winner, is provided by the bookie of this event. Please ensure that you understand the criteria the bookie is using to determine the winner, and that you are satisfied the betting selections and closing time are correct and fair, BEFORE betting on this event. It is the responsibility of the bookie to submit correct and timely results for all events they create.