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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.
Hong Kong generates the largest horse racing revenue in the world and is home to some of the largest horse betting circles including the Hong Kong Jockey Club founded in 1884. In 2009, Hong Kong generated an average US$ 12.7 million in gambling turnover per race 6 times larger than its closest rival France at US$2 million while the United ...
An example of 1950 racing results from Washington Park Race Track highlighting the payout for successful daily double wagers. A daily double is a parimutuel wager offered by horse racing and greyhound racing tracks in North America. Bettors wager on the winners of two consecutive races, [1] pre-designated by the track for a particular race day ...
The superfecta is a type of wager in the United States and Canada parimutuel betting in which the bettor, in order to win, must pick the first four finishers of a race in the correct sequence. This is even more unlikely than a successful wager in the trifecta , which requires correctly picking the first three finishers in order, and as such ...
Trifecta. A trifecta is a parimutuel bet placed on a horse race in which the bettor must predict which horses will finish first, second, and third, in the exact order. [1] Known as a trifecta in the US and Australia, [2] this is known as a tricast in the UK, [3] a tierce in Hong Kong, [4] a triactor in Canada [5] and a tiercé in France. [6]
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.
In horse racing and greyhound racing, the starting price (SP) is the odds prevailing on a particular entry in the on-course fixed-odds betting market at the time a race begins. The method by which SPs are set for each runner varies in different countries but is generally by consensus of an appointed panel on the basis of their observations of ...
The company was founded by Harry L. Straus, a computer engineer from Baltimore, who became interested in developing a fairer system of calculating and displaying odds and payouts on parimutuel betting after an incident at a Maryland racetrack in 1927. When a horse listed at 12:1 odds won, but paid off at 4:1, Straus recognized the need for a ...