Home » Recreation and Sports

Pari-mutel Horse Racing Betting

Apr 27, 2008
Horse racing has been around for a very, very long time. It has probably been around for as long as man has ridden horses. But the modern form of horse racing has been around for a much shorter time. This form of horse racing probably began in the 1800s. Professional bookmaking also began around that time in England.

In The Beginning

In the early days of horse racing, bookmaking was done entirely by individual bookmakers. There was absolutely no regulation. As can be predicted, this created a lot of problems. It was because this that M. Pierre Oller invented a machine that could conduct an auction pool based on bets that had been placed. This system was less prone to underhanded manipulations by dishonest bookies. As a result, it quickly gained much favor.

Around the time this machine was invented, the biggest races were being held in Paris. That is the reason the bettors often referred to these races as "mutuels." The machine thus came to be known as the Pari-mutuel. Pari-mutel betting is still the most common form of betting in horse racing today. This type of betting can seem very arcane but it is actually very simple in concept.

Pari-Mutel Explained

If you want to bet on a particular race, you first have to pick the horse that you think will win the race. When the race is completed, the winners win a share of the total pot money. However, that pot is not divided in an equal manner. All the winners get back their initial bets and the remainders is pooled and divided up equally in units of 2.

For example, someone who bet $2 will get one unit while someone who bet $30 will get 15 units. In a pari-mutel betting system, odds are determined by the percentage of the overall pool that was bet on each particular horse. These odds are then used to create the payoffs in case a bettor's horse wins the race.

Horse racing as a whole has benefited a lot from Oller's invention. The pari-mutel betting system is a beautiful thing. It works so well because it is neutral with regards to the outcome of the race. Even the track has no interested in the winner of any particular race. When it comes to money, any bettor would be interested in a fair system that minimizes the risk of cheating. Oller came up with one and it is automated at that!

If you want to end up being profitable at horse racing, you would do well to study this form of betting to see how you can take advantage of it. Read up on the nuances and subtleties of this system so you can exploit certain situations with it. Only with proper knowledge can you come out ahead in any game. Do not be left behind by your fellow bettors. Learn strategies and seek advice. You will win more and in the end, you will enjoy the wonderful sport of horse racing more as well.
About the Author
Learn all about horse racing. You might need a horse racing tip . Hopefully, you win with a good horse racing system . Visit Sure2Profit.com today.
Rating:
Please Rate:
(Average: Not rated)
Views: 186
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Accounting
    • Credit
    • Currency Trading
    • Debt Consolidation
    • Insurance
    • Investing
    • Leasing
    • Loans
    • Mortgage
    • Mutual Funds
    • Personal Finance
    • Stock Market
    • Structured Settlements
    • Taxes
    • Wealth Building
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources