Parimutuel Betting: In The World Of Gamblers

  • Written by a Guest Writer

Parimutuel betting is legal almost all around the world. It can be used on any sports in which the participants finish in a ranked order but it is mostly associated with horse racing. Parimutuel betting is famous among professional gamblers as well as recreational bettors. 

In this article, we will talk about what parimutuel betting is and how it works. We will take a closer look at it and compare it with other forms of betting.

What is Parimutuel Betting?

Parimutuel betting is also commonly known as pool betting. It is one of the very old and popular betting forms that is used on various sporting events. In parimutuel betting, instead of placing a bet against the sportsbook the bettor places the bet against the people who are betting for the same sports event. 

The bets that are placed go directly into a pool and the total betting amount is shared equally between the bettors who place the bets on winning selection. And some portion of the total amount goes directly in the shares of the house. A house is typically a private company or a state-run organization.

Parimetual is legal in some states of the US and other countries around the globe. Parimutuel betting is associated with dog racing, horse racing, and even golf. 

Unlike other forms of gambling, you can not benefit from using a betting strategy with parimutuel betting. You can not benefit from fixed odds, unlike the fixed-odd betting. There are two factors on which the outcome depends when it comes to perimetral betting.  

1) how many people placed the bet on the same sporting event 

2) how many bettors placed bets on the winner 

The outcome is only calculated after the betting is closed, which is before the event commences or after the sports event starts.

Which Is Better, Fixed Odds, Or Parimutuel?

With fixed odds betting, you have a certainty of knowing beforehand what you can win and many people prefer that certainty. On the contrary, with parimutuel betting, one can never know the exact returns until after the race. It is based on the current odds. 

Betting odds are used to represent the probability of an event to happen. It enables you to predict how much money you are going to win if you win the bet. Now the question is which betting system has better odds. A lot of people, however, argue that because fixed odds have increased competition it provides better opportunities. Fixed odds bookmakers can set off on really low margins which provide better value to the bettors. 

On the other hand, the supporters of parimutuel betting believe that because the operator can never lose or have any bad results, their prices are better. In this kind of betting, the long term odds are more lavish for the gamblers. 

But, there is no conclusive research to know which form of betting is better. Some may like the fact that they are blind to what they will win until the results are in. But for some, this might be a major problem. 

To know more about parimutuel betting, click on this linkカジノ必勝法/パリミュチュエル方式/

Lyst, the world’s biggest online fashion site

Everyone’s dressing as Eleven (or Barb) for Halloween Lyst, the world’s biggest online fashion site, is calling this year’s most popular costumes based on global search and sales data.   There’s still a month to go until Halloween, but the savviest shoppers are already sourcing their c...

Read more

Three services which are better online

With technology becoming an increasingly ubiquitous part of life, we see more and more of our everyday activities finding their way online. Certain things you may still want to do face-to-face, the old fashioned way for that human touch–like seeing a doctor, or psychologist, but there are some act...

Read more

Navigating Cold Weather in a Campervan

Loads of people love the idea of cruising through the great outdoors with the family, but hitting the road in a campervan in frigid winter is a little daunting. However, there are plenty of pros to this mode of travel in conditions others would shy away from. Tasmania is regularly the place of cam...

Read more

Three Top Tips for Increasing Your Monthly Income

Living hand-to-mouth can be a real struggle. No matter how hard you work, or how much effort you put into impressing your bosses, your income simply doesn’t leave enough left over at the end of the month. Yes, you might earn enough to just about get by, but you don’t have the cash necessary to s...

Read more

How Technology Has Impacted the Currency Markets

Technology has fundamentally changed our world. This fact is inarguable, and it’s a reality that we can see everywhere that we look. In today’s society, everything from dating to keeping in touch with friends, shopping, booking gym classes, and even ordering prescriptions can be done online, neg...

Read more

5 things to consider when picking a realestate agent

A lot of people have made mistakes with the decision about which realestate agent to entrust with the sale of a property. In any realestate transaction, the cost of making a poor decision about which agent to use can be very painful to a bank balance. Anyone who is looking for realestate to buy, ei...

Read more

Healthy Food Partnership set to save plenty of Aussie lives

The Healthy Food Partnership – to have its inaugural meeting in Canberra today – has the potential to save thousands of lives by improving the health of Australia’s food supply, Heart Foundation spokesman, Rohan Greenland, said today.   The Healthy Food Partnership – convened by Rural Hea...

Read more

Christmas Cheer Can Last the Whole Year With NSW's Event Ticket Gift Guide

This Christmas, avoid the frenzy of last-minute Christmas shopping and give loved ones an unforgettable experience with tickets to one of the many blockbuster events taking place across Sydney and New South Wales. As Australia's home of sports, arts, culture and food and wine events, Sydney and reg...

Read more

News Company Media Core

Content & Technology Connecting Global Audiences

More Information - Less Opinion