Pari-mutuel Betting at the Race Tracks
The pari-mutuel betting system allows all winning bettors involved to share both in the total pot and the tax and racetrack maintenance expenses. The system was established in France and conceived by Frenchman Pierre Oller (c. 1870). The dependence of the payoff on the bettors themselves allows the pari-mutuel betting system to work well for races. Payoffs will be low if the winner was easily predicted and many people bet on the winner, whereas those who bet on the less likely candidate and win gain larger portions of the pot because there are less people to share it with. At many horse tracks around the world, especially the major tracks, pari-mutuel betting is the system of choice. This style of betting is also used at greyhound race tracks and jai alai games. The system continues to thrive and remain legalized because it is respected as a means to prevent illegal bookmaking. Sophisticated electronic calculating systems are utilized to determine and display odds. This makes illegal side bookmaking less feasible.
Horse Betting with the Pari-mutuel System
Horse betting is a popular form of entertainment, as well as income in some cases. Horse betting has grown in recent years as the Internet has provided the ease of betting online without having to traverse to the racetracks. One respected website, www.TVG.com stands as a superior provider of horse racing insider information, race results and video coverage, while presenting a means for online betting. TVG members can bet online or via mobile phone, automated telephone or even Dish Network iTV. Horse betting is now easier and more accessible. Visit www.TVG.com to learn more.