| Parimutuel betting is an important highlight of | | | | and jai alai. Many of the lottery games also |
| horse racing games. The word ‘parimutuel' is | | | | employ a modified version of parimutuel betting |
| derived from the French language and means | | | | system. The major difference between |
| ‘mutual betting'. In many countries, it is also | | | | parimutuel betting and fixed odds betting is that in |
| known as the ‘Tote'. In simple words, it can | | | | the former system, the final payout is not |
| be defined as a betting system under which all | | | | established until the pool is closed. But in the latter |
| bets of a particular kind are collected together in | | | | system of betting, the payout is determined at |
| a pool; a house and taxes are eliminated and | | | | the time of selling the bet. |
| payoff odds are determined by sharing the pool | | | | Generally, parimutuel betting is regulated by the |
| amongst all the winning bets. | | | | laws and policies of the state. It is a common |
| Online betting as well as virtual horse racing | | | | practice in many places where gambling is banned. |
| games are very popular with horse fanatics. The | | | | Besides this, you can also take advantage of it at |
| internet provides all horse lovers with loads of | | | | ‘off track' facilities. This allows the players to |
| opportunities to not only participate in virtual horse | | | | place bet on events, without actually being |
| racing games but also gamble online. The | | | | present to observe them personally. Virtual horse |
| parimutuel system of betting was developed by | | | | racing games are great fun because you can not |
| Catalan impresario Joseph Oller in the year 1867. | | | | only enjoy playing them but also stand a chance |
| Since there are a lot of complex calculations | | | | of making some good money. |
| involved in parimutuel betting, a tote board known | | | | Win, Place, Show, Triactor, Exactor, Superfects, |
| as a ‘totalisator' is used. | | | | Box, Quinella, Duet, Double, Triple, Quaddie, |
| The parimutuel system of betting is not only | | | | Sweep and Each way are some of the most |
| popularly used in horse gambling but other | | | | common kinds of bets placed on horse races. |
| sporting events also such as the greyhound racing | | | | |