The Concept of Pari-Mutuel Betting: Shared Pool Wagering

Pari-mutuel betting is a system where participants place wagers into a collective pool, with payouts determined by the total amount bet and the number of winning tickets. This method differs from traditional betting, where individuals wager against a bookmaker. By pooling bets, pari-mutuel systems increase transparency and potentially offer higher payouts, particularly when betting on […]