Totalizators

Totalizators

Totalizators, also known as pari-mutuel betting systems, are a type of betting system commonly used in horse racing and other sports events. The term totalizator refers to a system that calculates the odds and distributes the winnings among the winners based on the total amount of bets placed on the event. The totalizator system is based on the principle of pooling bets, which means that all bets placed on a particular event are combined into a single pool, and the winnings are distributed among the winners based on the size of their bets. The totalizator system was first introduced in France in the late 19th century and quickly spread to other countries around the world. The system is designed to provide a fair and transparent way of betting on sports events, as it ensures that the odds are determined by the amount of money bet on each participant, rather than by a bookmaker's subjective assessment of the participants' chances of winning. In a totalizator system, the odds are constantly updated based on the amount of money bet on each participant. As more money is bet on a particular participant, the odds of that participant winning decrease, and the odds of the other participants winning increase. This ensures that the odds are always reflective of the betting patterns of the participants, and that the system remains fair and transparent. Overall, totalizators are a popular and effective way of betting on sports events, particularly in horse racing. They provide a fair and transparent way of betting, and ensure that the odds are always reflective of the betting patterns of the participants.

Pari-mutuel, Betting, Horse racing, Odds, Pooling

— Daniel Martin

CITATION : "Daniel Martin. 'Totalizators.' Design+Encyclopedia. https://design-encyclopedia.com/?E=404053 (Accessed on May 18, 2025)"