Pari-Mutuel betting is widely available in North America, Central America, and the Caribbean. If you’ve ever been to a race track, you may have noticed that there is a snack bar there where you can place your wagers. These are places where people come to place their bets on the upcoming races. Similarly, you may have also visited a sports bar where you can watch games, make calls, or place bets on the outcome. In essence, pari-mutuel betting is betting on games where you’re not physically present. The betting window is generally open only during the game, but since the games can last a couple of hours, you may place bets as they’re happening.
The Basics of Picking Winning Numerals
Bets generally contain a series of five numbers; the odd numbers are your selections, and the even numbers are the outcomes of the sporting event. For example, if you were betting on a horse race, you may choose 8 for the first race and 16 for the second race. In theory, you’re selecting the winner of the race by combining the first two numbers (08) with the final three (16). There are no limitations on the number of winning picks you can make per day, but you can’t pick more than one series of five numbers in each wager. The following example shows how a pari-mutuel ticket would look:
Horse racing example: suppose you’re betting on the third race at a mile and a quarter. You bet $2 on the favorite, and the line opened at $10. You then make a series of five bets totaling $40 on the three horses in the race, choosing 15, 16, 20, 25, and 30 on your five bets. Your ticket would then look like this:
- 15
- 16
- 20
- 25
- 30
- 25
For each selection, you get a 1 unit ($2) return if your prediction is correct and you win, or you lose your money ($10) plus the amount you bet ($40). If you had picked all five horses correctly, you would have won $100 (1 x $10 x 5).
Where Can I Bet?
You can place bets at most racetracks, as long as you have an account there. The most popular places to bet are at the big-name tracks; the biggest and most popular tracks in North America include Saratoga, NY, and PA, and the most famous tracks in Europe include Epsom and Paris.
If you want to place bets at a specific track, you can usually find information about the track’s website or app. Also, many pari-mutuel betting sites allow you to place bets at any of their partner tracks. Finally, you can also access betting odds and place wagers via the web or a mobile device app.
How Do I Make A Bet?
To place a bet, you’ll need to visit the site or app that hosts the game you’re interested in. Then, you’ll need to create an account there if you don’t have one yet. After that, you can browse the site’s sportsbook or app’s sportsbook, which offers up odds on the various games. Finally, you can place wagers on the events you’re interested in.
Pari-mutuel betting does become a bit more complicated if you bet on college and pro football games. Most pari-mutuel sites generally don’t allow you to place bets on those sorts of games; however, a few do, and in general, it’s best to contact the website directly if you want to make a bet on a college or pro football game.
How Do I Track My Winnings?
Most places where you can place bets will give you an entry confirmation email after you make a wager. You can then use this email to track your winnings. If you’ve placed a bet on a draw, or if the pick you made loses, you don’t win anything; however, if your pick wins, you’ll get the return on your wager plus an additional win.
If you’re looking for an easy way to keep track of your earnings without having to spend too much time doing so, you can take advantage of many sites’ automated tracking features. When you make a bet, most places will give you an entry confirmation email to track your activity. Then, you can use that email to access your betting history and track your earnings.
Racetrack And Sports Bar Lingo Vs. Betting Lingo
The terminology used in betting can be a bit daunting, even for seasoned bettors. For instance, instead of using the terms “pari-mutuel” and “ticket” to describe the type of wager you’re placing, many people use the terms “book” and “stack.” Here’s a brief glossary of terms you may come across when betting:
- A book is a collection of wagers, or a stack is a collection of bets
- A lay is when you place a wager with the expectation that the outcome will be a certain way
- A fade is when you wager on the favorite, then adjust your wager before the game as the line moves
- A teaser is a form of pari-mutuel wagering that involves betting on future events
- An ante is a portion of the bet that you must risk before the game even starts
- A juice is a commission charged by the bookmaker for handling your wager
- A midget is a small bet
- A layoff is when you remove a bet from your stack because the line has moved too far in your favor
- A fade is when you wager on the favorite, then adjust your wager before the game as the line moves
- A teaser is a form of pari-mutuel wagering that involves betting on future events
- An entry is when you place a wager and then immediately get a result
- A winner take all is when your winning wager is automatically tallied and added to your total, and then the original wager is erased from your stack
- A straight-up is when you place a wager and then the result of the game is automatically added to your total
- A push is when you place a wager and then the line moves in your favor before the game starts
- A juice is a commission charged by the bookmaker for handling your wager
- A scratch is when you place several bets on the same game and then the combined results are tallied and added to your total
- A teaser is a form of pari-mutuel wagering that involves betting on future events
If you’re looking for an analogy to explain pari-mutuel betting, think of it as an online version of those little stand-up games at the bar. You may choose any five numbers you like for your five wagers, and the odd and even combined total will be the basis for your payout. If you were to win $100, for example, you would receive $20 in odd coupons and $80 in even ones. You can then use these coupons to purchase snacks at the bar or liquor at the restaurant.
Pari-mutuel betting is a great way to earn money while enjoying sports. It’s also a good option for people who want to bet on events they’re not physically present at. If you’re interested in trying out pari-mutuel betting, visit one of the many reputable websites where you can place bets on events such as horse racing, or check out one of the many smartphone apps available for Android or iOS devices (iPhones and iPads).
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