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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.
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 ...
Conceptual art is art wherein the concept(s) or idea(s) involved in the work take precedence over traditional aesthetic and material concerns. [25] The inception of the term in the 1960s referred to a strict and focused practice of idea-based art that defied traditional visual criteria associated with the visual arts in its presentation as text ...
Training in the visual arts has generally been through variations of the apprentice and workshop systems. In Europe, the Renaissance movement to increase the prestige of the artist led to the academy system for training artists, and today most of the people who are pursuing a career in the arts train in art schools at tertiary levels.
Parimutuel systems had used totalisator boards since the 1860s, and they were often housed in substantial buildings. However, the manual systems often resulted in substantial delays in calculations of clients' payouts. The first all-mechanical totalisator was invented by George Julius. Julius was a consulting engineer, based in Sydney.
Primitivism in art is usually regarded as a cultural phenomenon of Western art, yet the structure of primitivist idealism is in the art works of non-Western and anti-colonial artists. The nostalgia for an idealized past when humans lived in harmony with Nature is related to critiques of the negative cultural impact of Western modernity upon ...
Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.
In gambling parlance, making a book is the practice of laying bets on the various possible outcomes of a single event. The phrase originates from the practice of recording such wagers in a hard-bound ledger (the 'book') and gives the English language the term bookmaker for the person laying the bets and thus 'making the book'.