Horse racing journalist and handicapper who covered the Kentucky Derby, Preakness, Belmont and Breeders’ Cup for the Las Vegas Review-Journal.
HORSE BETTING GUIDE · BET TYPES
Reviewed by the Horse.bet Team
What is parimutuel horse racing betting? — explained: Pari-mutuel wagering is a system developed in France in which all bets of a particular type are placed together in individual pools.
Pari-mutuel wagering is a system developed in France in which all bets of a particular type are placed together in individual pools. Then, after taxes and the track “takeout” are deducted, the remainder is divided among all winning bettors.
In the modern era of thoroughbred horse racing, the Tote board that displays the odds is part of a complicated computer system that tallies bets in real-time and constantly recalculates each entrant’s odds based on the wagering.
It’s an extremely efficient system – the “crowd” is better at determining accurate odds than any individual handicapper ever could be -- but there are drawbacks.
The presence of “whales” who wager large amounts in the final seconds before the gates spring open is one of the biggest shortcomings. For example, you can buy a win ticket on a horse at 5-1 and watch the odds plunge when late money pours in on your horse. When you go to collect, you might only get paid at 3-1.
Horse betting sites with parimutuel odds in the USA are TVG , Amwager , NyraBets , and Twinspires .
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Significant terms
Available to new customers only. Make a qualifying deposit of £5* or more and claim the offer within 30 days of registering your account to qualify for 300% of that amount in Bet Credits, up to a maximum of £30* in Bet Credits. Once released, your Bet Credits will be held in your account balance and are non-withdrawable. To release your Bet Credits for use, you must place qualifying bets to the value of your qualifying deposit (capped at £10*) and they must settle within 30 days of claiming the offer. Only qualifying bets placed and settled after claiming the offer will count towards this requirement. PayPal, paysafecard and all other prepaid credit and debit cards, where available, cannot be used for either your qualifying deposit or any subsequent withdrawal of returns from Bet Credits stakes unless we have successfully verified an accepted form of your Identity Documents and you have entered a Postal Verification Code (PVC), or we have successfully verified two accepted forms of your Identity Documents. See condition 2 of full Terms and Conditions for details. Bets placed must meet certain conditions to count towards the release of your Bet Credits: Must contain at least one selection at odds of 1/5 (1.20) or greater. Only the largest cumulative stake on an individual selection within a market/fixture combination (either pre-match or In-Play) will count towards the settled bets requirement. Cashed Out, Instant Games, Gaming, Free Bets, void bets, In-Play bets which are settled as a push or Fantasy Sports entries will not count. Your Bet Credits are non-withdrawable, and Bet Credits stakes are not included in any returns. Any returns from Bet Credits placed will be added to your Withdrawable Balance. Bet Credits cannot be used on certain products, offers/promotions and bet types. See full Terms and Conditions for details. Your Bet Credits will expire 7 days after they are added to your Bet Credits balance.
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