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Parimutuel betting
Parimutuel betting (from the (フランス語:Pari Mutuel) or mutual betting) is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vig" are removed, and payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the Tote after the totalisator which calculates and displays bets already made.
The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and all sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games.
==Definition==
Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed – in fixed odds betting, the payout is agreed at the time the bet is sold.
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.
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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