parimutuel betting

Home > ... > Sports and Everyday Life > Sports > Sports > ...

Essential
reading

Compare
side-by-side

The Oxford Pocket Dictionary of Current English

The Columbia Encyclopedia, Sixth Edition

parimutuel betting

parimutuel betting , system of cooperative wagering invented (c.1870) in France by Pierre Oller. According to the system, the holders of winning tickets divide the total amount of money bet on a race (the pool), after deductions for tax and racetrack expenses. The uniqueness of parimutuel betting lies in the fact that the gambling public itself determines the payoff odds (e.g., if many people have bet on the actual winner of a contest then the payoff will be low, simply because many winners will divide the pool). Parimutuel wagering is the accepted betting procedure at major horse-racing tracks throughout the world. Greyhound tracks and jai alai games also use the system. Considered a major deterrent to illegal bookmaking, the modern parimutuel system depends on high-speed electronic calculators, known as totalizators or tote boards, to record and display up-to-the-minute betting patterns.

Create a link to this page

Copy and paste this link tag into your Web page or blog:

<a href="http://www.encyclopedia.com/topic/.aspx#1E1-parimutu" title="Facts and informations about parimutuel betting">parimutuel betting</a>

Give this article a thumbs-up on StumbleUpon

Cite this article
Pick a style below, and copy the text for your bibliography.

MLA
Chicago
APA

"parimutuel betting." The Columbia Encyclopedia, Sixth Edition. 2008. Encyclopedia.com. 9 Jul. 2009 <http://www.encyclopedia.com>.

"parimutuel betting." The Columbia Encyclopedia, Sixth Edition. 2008. Encyclopedia.com. (July 9, 2009). http://www.encyclopedia.com/doc/1E1-parimutu.html

"parimutuel betting." The Columbia Encyclopedia, Sixth Edition. 2008. Retrieved July 09, 2009 from Encyclopedia.com: http://www.encyclopedia.com/doc/1E1-parimutu.html

Learn more about citation styles

pari-mutuel

The Oxford Pocket Dictionary of Current English | 2009 | © The Oxford Pocket Dictionary of Current English 2009, originally published by Oxford University Press 2009. (Hide copyright information) Copyright

par·i-mu·tu·el / ˌparə ˈmyoōchoōəl/ (also par·i·mu·tu·el) • n. [often as adj.] a form of betting in which those backing the first three places divide the losers' stakes (less the operator's commission): pari-mutuel betting. ∎ a booth for placing bets under such a system.

Create a link to this page

Copy and paste this link tag into your Web page or blog:

<a href="http://www.encyclopedia.com/topic/.aspx#1O999-parimutuel" title="Facts and informations about parimutuel betting">parimutuel betting</a>

Cite this article
Pick a style below, and copy the text for your bibliography.

MLA
Chicago
APA

"pari-mutuel." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. 9 Jul. 2009 <http://www.encyclopedia.com>.

"pari-mutuel." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. (July 9, 2009). http://www.encyclopedia.com/doc/1O999-parimutuel.html

"pari-mutuel." The Oxford Pocket Dictionary of Current English. 2009. Retrieved July 09, 2009 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O999-parimutuel.html

Learn more about citation styles

Free newspaper and magazine articles

	Gambler's Web.(online betting can't be stopped - and why Washington shouldn't bother trying) Magazine article from: Reason; 10/1/1999
	Shades of Gray.(legal status of Internet gambling is uncertain, but people keep betting) Magazine article from: Reason; 10/1/1999
	Improve his odds.(TATTLE TALES)(Brief Article) Magazine article from: Business North Carolina; 11/1/2004

Facts and information from other sites

Related articles from newspapers, magazines, and more

	Gambler's Web.(online betting can't be stopped - and why Washington shouldn't bother trying) Magazine article from: Reason; 10/1/1999; ; 700+ words ; Why online betting can't be stopped - and why Washington shouldn't bother trying...from 250 to 1,000, ranging from online casinos to sports betting sites to lotteries, tournaments, bingo games, and sweepstakes...relish the taxes that pour in from tightly regulated casinos, parimutuel tracks, and similar ... Read more
	Shades of Gray.(legal status of Internet gambling is uncertain, but people keep betting) Magazine article from: Reason; 10/1/1999; ; 700+ words ; ...status of Internet gambling is uncertain, but people keep betting. Despite the creeping approach of anti-cybergambling legislation...the ultimate goal of this project is in-home interactive parimutuel betting.) Other noncasino gambling Web sites include Bingohour.com... Read more
	Improve his odds.(TATTLE TALES)(Brief Article) Magazine article from: Business North Carolina; 11/1/2004; 60 words ; ...County Democrat who plans to introduce a bill to allow parimutuel betting for the Stoneybrook Steeplechase at Carolina Horse...think that the world will come to an end if we have betting--that the Mafia and dancing girls will come with it... Read more
	Never bet against security.(Gaming) Magazine article from: Security Management; 9/1/2007; ; 700+ words ; ...controls gaming, wagering and parimutuel betting in all public venues except...the clubhouse, next to the parimutuel betting area. Last year, the ground...Vegas-style sports book. An area for parimutuel betting on simulcast horse and dog... Read more
	Jobs in legal gambling: a new giant of an old industry.(Cover Story) Magazine article from: Occupational Outlook Quarterly; 9/22/1996; ; 700+ words ; ...And you're off! Parimutuel Wagering In ancient...delight the Roman betting public. Chariot...the modest growth, parimutuels are struggling...through offtrack betting facilities and via...Workers linked to parimutuel wagering belong...racetracks and other betting facilities. Jockeys... Read more
	Gambling on neigh sayers.(Tattle Tales)(Brief Article) Magazine article from: Business North Carolina; 7/1/2004; 50 words ; ...chairman of the board of Carolina Horse Park in Hoke County expects a bill to be introduced next year to allow parimutuel betting at its Stoneybrook Steeplechase. But considering how lottery legislation has languished in the General Assembly... Read more
	Winners and losers: is gambling a "dead cert" for the economy? Don't bet on it. Magazine article from: South Florida CEO; 10/1/2006; ; 700+ words ; ...competing against one another for a common prize. The parimutuels, though, will install Class III machines--the kinds...something of a misnomer.' [ILLUSTRATION OMITTED] The parimutuels' machines, under state regulations, must offer payback...tribes negotiate for Class III machines. The new parimutuel ... Read more
	International Totalizator Systems Inc. (Proxy Report Excerpts) (Company Profile) Magazine article from: San Diego Business Journal; 6/7/1993; 576 words ; ...computerized ticket-issuing systems and terminals for the global parimutuel lottery and travel industries. ITS systems are operational...the domestic and international markets, where computerized parimutuel wagering and lottery systems are typically leased rather...was announced in early 1993 for a fully ... Read more
	The two-sided coin: casino gaming and casino tax revenue in Indiana. Magazine article from: Indiana Business Review; 3/22/2009; ; 700+ words ; ...games operated by the Hoosier Lottery and pari-mutuel betting at horse racetracks and off-track betting facilities. A mere twenty years ago, these forms of gambling...enacted to legalize the Hoosier Lottery and pari-mutuel betting on live horse races. The following year, legislation...referred to as ... Read more
	ITS says all bets are off when it comes to Barron's article. (International Totalizator Systems Inc.; financial weekly Barron's) Magazine article from: San Diego Business Journal; 12/21/1992; ; 700+ words ; ...Autotote and ITS manufacture parimutuel wagering and lottery terminals...which combines pari-mutuel betting with lottery, keno and sports betting, has great potential as legalized...Connecticut deal, an off-track betting system, was politics, pure... Read more