Parimutuel betting
Parimutuel betting is one type of betting to make. On the races, on the hippodrome, it is a counter that shows the cash bets made on a certain horse and the total amount of bets (fr. Totalisateur, from the totaliser — sum up). The bureau is also called the parimutuel betting, which accepts bets on horses and pays winnings.
At the time of bet, the participant can only assume how much he will gain if he succeeds.
The organizers of this type of bet take a percentage of all bets made, not taking part in the risks of gambling, but carrying only the usual burden of business risks to justify the costs. Moreover, the mutual betting was not always commercial: sometimes it served as the source of existence for non-profit organizations associated with horse breeding.
The first mutual betting known since the time of ancient Rome. The place of their deployment were the arenas for gladiatorial battles.
In order to convince the players of honesty and impartiality, the Frenchman Joseph Oller offered the experts in horse races to play against each other: collect all the bets, deduct a fixed commission and divide between the winners. The only parameter controlled by the organizer is the percentage of commission; it only depends on him how much the knowledge of the sport pays off.
The Parimutuel betting has a large number of diverse collections, consisting of a couple of events, and sometimes of several dozen events. For players is comfortable so they do not need to waste time selecting events for which it is best to bet.
Pros and cons
One disadvantage of the mutual betting is that when you make a bet, you do not know the odds of the bet and thus the possible winnings. The best advice in this situation is that you need to bet on those events in which you are at least a little sure that they will win.
All players' bets are summed up and divided further between all participants who won taking into account the amount that bookmakers are keeping. From this it turns out that the winning odd depends on the total amount of bets calculated for a certain outcome, in relation to the number of all bets made.
As a result, it turns out that if a player puts a lot of money on a certain horse, which ultimately wins and if no one else does not make a bet on this horse, then this player will make a significant payoff. But this happens quite rarely.
You should not put on the favorites of the race. You will bet, the favorite will come first, you seem to have won, but the winnings obviously will not please you, because a lot of people have put the winner aside, and the winnings were distributed among all the winning players.
If earlier, in order to make a bet, a person had to go to a real bookmaker's office, now it’s much easier to do this - such establishments have migrated to the worldwide network. There is even a term such as "online mutual betting." Undoubtedly, in connection with this, a considerable number of positive points have been added. For example, as mentioned above, the player does not have to go to the bookmaker office, carry documents and money to make a bet. All this can be done on the Internet. In case of winning, you do not need to take the money yourself, they will simply be transferred to the player’s account. There are minor flaws. For example, the amount of winnings is unknown, because it depends on the number of people who made a bet, and this number may change before the announcement of the results.
The choice of online parimutial betting, as well as other online gambling games, is simple, because there are quite a lot of them. Most often, bookmakers work with the results of sports matches. Here you can see another plus of the fact that the whole process takes place on the Internet. Before you make a bet, a person can see the predictions or statistics of games of a particular team, and only after that make his choice, which undoubtedly increases the chance of winning.
An event that a player can bet on can be anything from a sporting event to a weather forecast or an electoral race, but most of the bets are placed on the results of football matches. After all, football has a huge number of fans, and it certainly helps online sweepstakes to attract an increasing number of players.
Сonclusions
Sweepstake in sports betting is a prediction of the outcome or the exact score in a fixed set of matches. The sweepstake's winnings depend primarily on the number of past outcomes / accurate bills and are paid from the total pool of bets.
The sweepstakes at the races are the bets on the winner or a place in the race on the racetrack, the winnings in which are paid from the common pool.
The tote differs from the bookmaker by the absence of coefficients, uncertain potential gain, and in sports sweepstake - by the presence of a jackpot, a fixed set of events and a limit on the type of bet.
Sports sweepstakes should be played only for entertainment, and the tote in horse racing is also used for professional play.