Betting pools are a form of gambling in which participants contribute money to a pool and then make predictions about the outcome of a particular event. The person with the most accurate predictions wins the pool. POTS is an acronym for 'pooled online tournament system, ' which is a type of betting pool that is conducted online. This type of betting pool allows participants to compete against each other in a tournament-style format, with the winner receiving a portion of the pooled money.