mutual bets
Explanation:
BGG Thread: Bring through your bets! - How to win "Titan-The Arena"If you let the player to your right constantly benefit of mutual bets, s/he will mostly have the ... Therefore avoid mutual bets with your right player. ...
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RARIB | Legislation... of mutual bets and paying off the prizes) and gambling facilities, ... f) observance of rules of the organization of mutual bets and risk-based gambling ...
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THE ACT... nor shall they constitute games of chance or mutual bets within the meaning of the Law on games of chance and mutual bets, even if according to the ...
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[PDF] To: Bennett Liebman, Esq. From: John Svare Re: Judicial ...File Format: PDF/Adobe Acrobat - View as HTML
... he selects, and those who choose the winners divide the entire state, less the percentage of the person who furnishes the pool tickets; literally, mutual bets ...
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Entertainment Industry“Mutual bets", emergence of the tote. In 1872 the Parisian shopkeeper Pierre Oler (who, according to some information, was a bookmaker-loser at that time) ...
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Mike :)
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Note added at 38 mins (2005-06-14 09:17:56 GMT)
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Web definitions for Parimutuel betting
Parimutuel betting (from the French language: pari mutuel, mutual betting) is a betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets, rounded down to a denomination interval (in the United States, typically 10 cent intervals are used; the rounding loss is known as breakage). The parimutuel system is used in gambling on horse racing, greyhound racing, and j
en.wikipedia.org/wiki/Parimutuel_betting - Definition in context
pari-mutuel
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par·i-mu·tu·el also par·i·mu·tu·el (păr\'ĭ-myū\'chū-əl)
n.
A system of betting on races whereby the winners divide the total amount bet, after deducting management expenses, in proportion to the sums they have wagered individually.
A machine that records such bets and computes the payoffs.
[French : pari, wager (from parier, to wager, from Latin pariāre, to settle a debt, from pār, par-, equal) + mutuel, mutual (from Old French; see mutual).]
Encyclopedia
parimutuel betting (păr\'ĭmyū\'tyūĕl) , 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.
Wikipedia
parimutuel betting
Parimutuel betting (from the French language: pari mutuel, mutual betting) is a betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets, rounded down to a denomination interval (in the United States, typically 10 cent intervals are used; the rounding loss is known as breakage). The parimutuel system is used in gambling on horse racing, greyhound racing, and jai alai, all sporting events of relatively short duration in which participants finish in a ranked order.
The parimutuel system was invented by Parisian perfume maker Pierre Oller in 1865 when asked by a bookmaker friend to devise a fair system for bettors which guarantees a fixed profit for the bookmaker.
The large amount of calculation involved in this system led to the invention of a specialized mechanical calculating machine known as a totalisator, \"automatic totalisator\" or \"tote board\". The first was installed at Ellerslie Racecouse, Auckland, New Zealand in 1913, and they came into widespread use at race courses throughout the world (the U.S. introduction was 1933 at Arlington Park, Chicago).
Parimutuel gambling is frequently state-regulated, and offered in many places where gambling is otherwise illegal. Parimutuel gambling is often also offered at \"off track\" facilities, where players may bet on the events without actually being present to observe them in person.
There may be several different types of bets, in which case each type of bet has its own pool. The basic bets involve predicting the order of finish for a single participant, as follows:
In North America
Win - A first place finisher wins the bet.
Place - Either a first or a second place finisher wins the bet (at most tracks the race must have at least four runners in it for place betting to be conducted).
Show - First, second, or third place finisher wins the bet (at most tracks the race must have at least five runners in it for show betting to be conducted).
Across the Board: A combination triple-bet of Win, Place, and Show
In Australia
Win - Runner must finish first.
Place - Runner must finish first, second or third.
Each-way - A combination of Win and Place. A $5 bet Each-way is a $2.50 bet to Win and a $2.50 bet to Place.
In the United Kingdom
Win - Runner must finish first.
Place - Runner must finish within the first two places (in a 5-7 runner race), three places (8-15 runners) or four places (16+ runners).
Each-way - Charged and settled as one bet to win and another bet to place.
Depending on the facility rules, which might vary from event to event, other bets may also be offered which allow the user to pick the finish of more than one participant, or more than one event. These are called exotics, and generally have higher payoffs. However, the facility\'s take is usually higher for these bets as well. The chief North American and Australian exotics are:
Exacta (exactor, perfecta) - Picks the first and second place finishers, in order.
Quinella - Picks the first and second place finishers, but the order doesn\'t matter.
Trifecta (triactor) - Picks the first, second, and third place finishers, in order.
Superfecta - First four finishers in order.
Daily Double - Picks the first place finishers in two straight events.
Pick 6 (jackpot) - Picks the winners in six consecutive events.
Unlike many forms of casino gambling, in parimutuel betting the gambler bets against other gamblers, not the house. The science of determining the outcome of a race is called handicapping.
It is possible for a skilled player to win money in the long run at this type of gambling, but overcoming the deficit produced by taxes, the facility\'s take, and the breakage is difficult to accomplish and few people are successful at it.
Independent off-track bookmakers have a smaller take and thus offer better payoffs, but they are illegal. However, with the introduction of Internet gambling has come \"rebate shops\". These off-shore betting shops in fact return some percentage of every bet made to the bettor. They are in effect reducing their take from 15-18% to as little as 1 or 2%, still ensuring a profit as they operate with minimal overhead. Rebate shops allow skilled horseplayers to make a steady income.
See also Bet exchange, Bookmaker and Spread betting.
Related links:
The Betting-Ring - info on betting links around the world (http://www.betting-ring.com/)
This entry is from Wikipedia, the leading user-contributed encyclopedia. It may not have been reviewed by professional editors (see full disclaimer)
Translations
Translations for: Pari-mutuel
Nederlands (Dutch)
toto, totalisator
Français (French)
pari mutuel
Deutsch (German)
n. - Toto
Ελληνική (Greek)
n. αμοιβαίο στοίχημα
Italiano (Italian)
totalizzatore, scommessa ippica
Português (Portuguese)
n. - aposta mútua (f)
Русский (Russian)
тотализатор
Español (Spanish)
n. - apuestas mutuas, totalizador
Svenska (Swedish)
n. - vadhållning där vinnarna delar på förlorarnas insatser
中国话 (Simplified Chinese)
n. - 按注分彩法, 按注分彩法赌金计算器
中國話 (Traditional Chinese)
n. - 按注分彩法, 按注分彩法賭金計算器
日本語 (Japanese)
n. - 賭け金表示器
العربيه (Arabic)
(الاسم) الرهان المشترك, ماكينه الرهان المشترك
עברית (Hebrew)
n. - הימור על סוסים בו זוכי המקומות הראשונים מקבלים סכום יחסית להשקעתם, הימור, מיתקן המציג את סכומי ההתערבויות במירוץ
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Mentioned In
pari mutuel is
Here is the evidence - it is \"parimutuel betting\" American Heritage Dictionary - very respected dictionary - one of the best!!
Mike :)
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Note added at 51 mins (2005-06-14 09:30:07 GMT)
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Margarita, fuente para que puedas ver que Álvaro acertó muy bien - se usa \"parimutuel betting\" todo el tiempo.
Or just click on the underlined words in the above colored bar
pari-mutuel: Definition and Much More From Answers.com
... mutual betting) is a betting system in which all bets of a particular type
... Dictionary definition of pari-mutuel The American Heritage® Dictionary of ...
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peer agreement (net): +3
