Live Odds | Free Live Odds | Sports Odds | Live Lines | Types of Bets | Teasers | Parlays | If Bets | Point Spread | Money Lines | Sportsbook Odds | Sports Betting Lines

Parimutual Betting - 26-10-2011

By Shweta Dubey

The sports betting world comprises numerous forms of betting practices including sports, spread, arbitrage betting and so on, but Parimutual Betting constitutes one of the most significant forms of sports betting online. This is closed form of betting, where players are required to bet on the total amount in the game and hence, this form of betting is known to be one of the most interesting types of sports betting.

Originally, Parimutual Betting strategy is invested in the mid of the late 18s in France by a seller of the perfumes called Pierre Oller. Wagering in this form of betting is possible on different sports depending upon the game played in gambling that hardly remain for a long period of time and the athletes that are involved in these games are ranked on the basis of their finishing times. The forms of games associated with parimutual betting practices generally fall on the basis of the animal based racing including greyhound racing and horse racing, and other sports played similarly.

Still, people may think about what parimutual betting refers to? In this form of wagering the bettor does not need to move against the house. On the other hand, he actually moves against the other bettors or his competitors. Hence, the total amount of wagering is placed into a big gambling pot or pool. All the participants interested to wager put their money into this pot and they cannot obtain it until the game closes and the winner's name is declared.

In this way, everyone gets the chance to contribute to the gambling pot and in this style of betting, the pool size increases to the massive proportions and it can also go up to several millions. Hence, if a bettor wins the pot, he can significantly obtain a huge amount of money through the game. However, for keeping the things under the authorized control, state regulations are imposed on parimutuel betting and according to it; this form of betting is allowed in the places where the gambling may otherwise be illegal. This is the reason behind the existence of the horse racing tracks in all over the United States.

Usually, parimutuel betting is combined with the fractional odds where the changes take place on the basis of the amount of money contributed by the players in every event they play. Suppose, if the gambling pot contains $100 and the bet is placed on the Horse 1 by at least 50 players for winning. The rough odds will declare 2-1, as if that horse wins, the players will win $2 against their investment of $1 for this bet. On the other hand, if only 2 people have bet on the Horse 2, the odds of that horse would be 50-1. All this could be approximate, as a cut could be taken by the house.

Parimutual betting is an interesting form of sports betting when it is implemented while placing the ranked bets on any event of sports. However, you should always keep this in mind that anything could happen in a live game; hence, you should bet intelligently.

Back to top

Back to Main Page | Free-Live-Odds | Link Exchange | Live Free Odds

NFL ODDS | NCAA ODDS | NBA ODDS | NASCAR ODDS | HORSE RACING ODDS | MLB ODDS | TENNIS ODDS | BOXING ODDS | PGA GOLF ODDS | NHL ODDS | NCAA BASKETBALL | WNBA ODDS | ARENA FOOTBALL ODDS | CANADIAN FOOTBALL ODDS |

NFL Football Information | PGA Golf Information |