The term "tote" can refer to a number of different things, depending on its context.
In general usage, a tote is simply a bag or container that is typically made from canvas and has handles for carrying. These types of bags are often used for shopping, traveling, or storing items.
However, in the world of sports betting, "tote" refers specifically to an organization that pools together wagers on horse races and then redistributes the money back to winning bettors through a parimutuel system. In this context, placing a bet on the "tote" means putting your money down with the tote company rather than with an individual bookmaker.
In addition, in some countries (such as the United Kingdom), the term "tote" is also used colloquially to refer to a lottery or other form of gambling. For example, someone might say they're going to buy a "tote" ticket when referring to buying a lottery ticket.
Overall, while the word "tote" can have different meanings depending on its context, it generally refers to some type of container or pooling system for wagers or gambling.