pari-mutuel betting
Shared-pool gambling system
Pari-mutuel betting is a wagering system where all bets on an outcome are pooled together, and payouts are calculated by dividing the pool among winners after the house takes its cut.
Unlike fixed-odds betting, the final payout isn't known until betting closes.
The system originated in horse racing and remains standard at racetracks: The pari-mutuel odds shifted as more money came in on the favorite.
- quinellaBet on top two finishers
- Kentucky DerbyPremier American thoroughbred race
- jai alaiBasque basket-ball wall sport
- wagersStakes risked on outcomes
- oddsLikelihood expressed numerically
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- racing rulesdisqualification, false start, eligibility, penalty points, interference