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Pari mutuel Betting on Animal Racing

By Shweta Dubey - Oct , 28, 2011.

Since the immortal of men, the thrill and excitement of racing has continued. From Chariot races of the Roman era or famous race between the Giant Hrungnir and Norsk god Odin, the level of excitement in racing has not at all diminished, it has increased with the passing time. The thunder and thrilling excitement has not only captures the audiences but also the players, who actually enjoy the races and become a part of it even since it has been organized. However, no one can deny the emotions that are invested in the race and that are too high. Hence, it can be logically correct to note that the involvement of the emotions is more in the case of the races in comparison to the money. This is what has become the reason behind the involvement of individuals towards betting practices in the field of racing. In horse racing practices, participants finish in the ranks where a certain system of betting is followed that are known as the pari-mutuel betting. This form of betting is basically practiced in greyhound betting or other sports as well. The word pari-mutuel has been derived from the French phrase that is actually known as mutual stake. This already leads us towards a basic rule about the process of betting that the pool of betting comes through the total betting amount what has been wagered and the winning amount of money is calculated as a percentage of this prize pool after the reduction of the house in-take and taxes from that amount.

However, it is extremely needless to say that the probability towards getting a winning bet will maximize if you are betting on the most probable contender; however, winnings are highest when he is an unlikely or unknown candidate that is also regarded as the dark horse, who takes the win ultimately.

There are numerous bets that can be placed while doing the pari-mutuel betting and some of them are included below as:

Winning  the wagering amount is placed on the animal that will be winning the race. Exactor, perfecta or exacta   here the wager is placed on two animals with the declaration that any of them will finish the first and the next one will finish the second one. For a winning bet, the result should bring to an exact match. If it is brought towards the winning 3 or 4 animals, the bet will be regarded as a Superfacta or Trifecta.

Placing   Here, the wager is placed on an animal that will either finish first or second.

Quinella  This bet is quite similar to the exacta bet, but here the bettor would not need to specify the order of the appearance of the both of the animals.

Duet  Here, the two animals are picked out by the bettor along with the wagers that both of them will place among the top three.

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