Tote payouts vs bookies odds

Hi all .
I just want to find.out how the tote payouts are always almost the same or close enough to the bookies odds.
The bookies fixed odds is what we know we getting when we wager with them but with tote pools vary and fluctuate ,how does it almost end up very similar or exactly the same as the bookies ....
Any ideas guys ...

Bookies Prices

You need to remember with bookies prices

You could take

5/1 silver class race 1

13/10 Head Honcho race 2

Hermondo Muso 4/1 or 9/2

Horse Guards 15/4

Bela Bela 15/10

Etc etc

Plus I would rather know I am getting 16/10 than play the tote lottery where just before the off where it either goes from R2-50 to R1-80 or R2-50 to R3-00.

I am not asking which is better but rather asking how come the tote payout so often pays to the bookies price even tho it has a win pool that fluctuate..

I'm no expert on this matter but my thoughts are that the bets placed on the tote are still largely influenced by the fixed odds. Very few would blindly bet on the tote with little idea of the payout. They would initially rely on foresacted odds and then the fixed odds of bookmakers to assess "value". The market forces will then take over and the result is that both bookmaker and tote odds are quite similar.

It's quite simple.... IF the tote odds are showing a lot HIGHER than the bookies, just before the off, punters are likely to have a few bets on the tote...... to get the better odds ( only to find it pretty much equals out, OR tote normally goes BELOW bookies odds )

I've been tracking and graphing the odds for a few years now and have also noticed this, but I accept Elvis' explanation. What I've found even more interesting is how the different operators are always closely in sync, as if they are all feeding off the same system or watching each other minute by minute.

Below is a typical example of the winners of the first four races at the Vaal on Thu: Hollywood, BettingWorld, Interbet, WSB, Tote, win and place.