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Pool Betting
generalPool betting, also known as parimutuel betting, is a system where all bets of a particular type are placed together in a pool. The winners share the pool of money, after taxes and a 'house-take' are deducted.
Key Takeaways
- 1Pool betting, also known as parimutuel betting, is a system where all bets of a particular type are
Pool Betting
Pool betting, also known as parimutuel betting, is a system where all bets of a particular type are placed together in a pool. The winners share the pool of money, after taxes and a 'house-take' are deducted.
Example
In a horse race, all the money bet on the 'win' market goes into a single pool. If you bet on the winning horse, you get a share of that pool, with the payout depending on how many other people also backed the winner.
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