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  2. Parimutuel betting - Wikipedia

    en.wikipedia.org/wiki/Parimutuel_betting

    Parimutuel betting, or pool betting, is a betting system in which all bets of a particular type are placed together in a pool; taxes and the house-take, or vigorish, are deducted, and payoff odds are calculated by sharing the pool among all winning bets.

  3. Joseph Oller - Wikipedia

    en.wikipedia.org/wiki/Joseph_Oller

    Once in Paris, in 1867, Josep Oller invented a new method of wagering, which he named Pari Mutuel (French for Parimutuel betting). He successfully introduced his pool method system at French race tracks. Nonetheless, in 1874, Josep Oller was sentenced to fifteen days in prison and fined for operating illegal gambling.

  4. Betting on horse racing - Wikipedia

    en.wikipedia.org/wiki/Betting_on_horse_racing

    Pari-mutuel betting is currently legal in 32 US states. Due to new legislation horse race betting in the US could change significantly in the near future. The legal market handle on horse racing in the United States in 2018 was $11.26 billion while experts predict the illegal sports betting market could be anywhere from $100 billion to $150 ...

  5. Tote board - Wikipedia

    en.wikipedia.org/wiki/Tote_board

    Behind the betting windows at Ascot racetrack, Australia February 1939. An automatic totalisator is a device to add up the bets in a pari-mutuel betting system. The whole of the pot (the stakes on all competitors) is divided pro rata to the stakes placed on the winning competitor, and those tickets are paid out.

  6. Longitude LLC - Wikipedia

    en.wikipedia.org/wiki/Longitude_LLC

    The Longitude Enhanced Pari-Mutuel System enables sports betting and race track operators to offer a wider range of bet types, a richer display of odds data and bigger pools with more stable odds. By allowing a range of different types of wagers on an individual race or sporting event to be aggregated into merged pools, the Longitude Enhanced ...

  7. Historical horse racing - Wikipedia

    en.wikipedia.org/wiki/Historical_horse_racing

    Instant Racing machines were installed at Wyoming's four off-track betting parlors beginning in July 2003, [70] after approval of the Wyoming Pari-Mutuel Commission. [71] The machines' legality was soon called into question by the state Attorney General, and they were removed in 2005 following a court ruling. [72]

  8. Horse racing in South Korea - Wikipedia

    en.wikipedia.org/wiki/Horse_racing_in_South_Korea

    The inefficient management of the pari-mutuel betting system was a major stumbling block to broadening the fan base. To overcome this fundamental obstacle, the computerized pari-mutuel betting system was established in 1984, and at the same time, horse racing came to be televised in color, both on & off-course.

  9. Betting and Lotteries Act 1934 - Wikipedia

    en.wikipedia.org/wiki/Betting_and_Lotteries_Act_1934

    Long title: An Act to amend the law with respect to betting on tracks where sporting events take place, including the law with respect to totalisators on horse racecourses; to authorise, subject to restrictions, the establishment of totalisators on dog racecourses; to prohibit betting on tracks with young persons and pari mutuel betting except by authorised totalisators; to amend the law with ...