Pari-mutuel betting, also known as pool betting, is a unique form of betting. Instead of placing wagers against a bookmaker, you’re placing wagers against other bettors who have placed wagers on the same event. All wagers go into a pool, and the pool is shared equally between those who make the winning selection. As might be expected, a small percentage of all total wagers is deducted by the “house.” When it comes to pari-mutuel betting, the house is typically a state run organization or a private company that provides pari-mutuel betting services.
Unlike some other forms of sports betting, pari-mutuel wagering is fully legal in almost every region around the world. It’s traditionally associated with horse racing and greyhound racing, but it can be used on any sports event in which the participants finish in a ranked order. For example, this is the most popular form of betting when in comes to jai alai, a sport that vaguely resembles squash and racquetball.
It’s difficult to apply any betting strategy when placing pari-mutuel wagers, as you don’t get fixed odds. Payouts depend on two factors: how many people placed a wager on an event, and how many people picked the winner. Payouts are officially calculated after the betting has closed (i.e. once the event has started or is about to start). As you can see, determining whether or not a selection offers any value can be very challenging.
Backyard Bookie software is the ultimate tool for handling betting window operations at your Kentucky Derby party, or any other event focused around a competition.Use it for any of the major thoroughbred racing events, for other national sporting league championships, or for your club's golf tournament betting. Parimatch betting app Such solutions offer the player an interface that enables you to pleasantly put wagers from a mobile gadget with a relatively tv.
Nonetheless, pari-mutuel betting is very popular among recreational bettors and professional gamblers alike. For many people around the world it’s the only form of legalized sports betting that’s available to them.
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In this short guide to pari-mutuel betting we explain exactly how it works, and detail some of the different pari-mutuel wagers that are typically available. We also take a brief look at its history and how this form of betting is used in various countries around the world.
Backyard Bookie software is the ultimate tool for handling betting window operations at your Kentucky Derby party, or any other event focused around a competition. Use it for any of the major thoroughbred racing events, for other national sporting league championships, or for your club's golf tournament betting. Many more uses!- Take bets just like a race track betting window!
- Handles win, place, show, exacta, trifecta, and pick 3 through pick 6 bets!
- Print tickets or record the name of the bettor for easy cash distribution!
- Display the odds based on the bets made at your party or event just like the track tote board!
- Enter the results and the payouts are determined in seconds!
Backyard Bookie is NOT an Internet gambling service. While you can enter and payout track odds if you wish, the program is primarily designed to calculate odds and payouts based on the bets made at your event. That way, all or a designated portion of the money bet is distributed back to the bettors, eliminating the risk of a loss (or gain) for the 'house'. For charitable purposes, a small portion of the bets can be withheld from the payout calculation.
Please Note: Backyard Bookie is built in older Microsoft technology. You must follow certain steps to make it run properly on a Vista or Windows 7-10 operating system and some non-critical features will still not work fully.
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Backyard Bookie Premium Edition - Order now - only $34.95! ____________________________________________________________ Please Note: Backyard Bookie is built in older Microsoft technology. You must follow certain steps to make it run properly on a Vista or Windows 7-10 operating system and some non-critical features will not work fully. For new customers, it is advised to install the trial version prior to purchasing to assure that the system will properly install on your PC. |
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'Take bets like an official betting window, display the current odds, and calculate payouts.... Have a pari-mutuel party on Derby Day and play for fun or money.' - ZD Net