The parimutuel betting on horse races

Horse races have always captured the imagination of punters, due to the fact that they delivered immediate results and participants didn’t have to wait long for the outcome. The more horses participate in the competition, the lower the chances are to predict the winner and the odds are not making things much easier.

With the house winning on so many occasions, punters eventually decided to implement a system that would benefit the players rather than the bookmaker. This is how mutual betting emerged. Continue reading