Details About Pari-Mutuel Online Betting

Details About Pari-Mutuel Online Betting

September 3, 2020 Off By Lonnie Shade

Also known as Pool wagering, Pari-Mutuel staking is unique. You won’t be betting against the online bookmaker with these wagers, but instead staking against your fellows. All the bets will be entered into a pool and this will be divided up between those who made the right selection after the house has taken its percentage.

Although traditionally associated with Greyhound and Horse Racing, Pari-Mutuel wagers can now be placed on any sport which sees participants finishing in a ranked order. For example, it’s the most popular stake in Jai Alai, a fascinating sport resembling a mix of Racquetball and Squash.

How Pari-Mutuel Stakes Work

The basic idea behind Pari-Mutuel is straightforward. You’ll make your selection for an event the same way you would in more traditional betting but there are no fixed odds when you put your money down. Instead, you’ll get probable odds, based on the breakdown of the betting pool at that point in time. Be aware that these odds are likely to change until no more wagers are being accepted.

Each Pari-Mutuel stake placed on a market goes into that market’s specific pool. When the event is finished, the total amount of bets is added up and the house takes its commission off the top. The remainder is then divvied up between everyone who made the right selection, with payouts being calculated on how much was wagered.

Different Kinds of Pari-Mutuel Stakes

Although the Win bet is the most common, there are several other types too. They all work in the same way in terms of how potential payouts are calculated although they’re based on different outcomes.

As these wagers are very difficult to get right, they offer exceedingly attractive payouts. This ensures their ongoing appeal and explains why they remain so attractive for recreational bettors!

  • Across the Board

This is a combination bet and is effectively three different wagers rolled into one, the Win, Place, and Show. If the relevant selection takes first place, then all three parts will win. If it comes in second, then just the Place and Show stakes will pay out and if it finishes third, only the Show bet will be worth anything.

  • Any2 or Duet

This is a bet made on two selections to finish in any of the top three places.

  • Each Way

Another combination wager, the Each Way combines a Win and a Place.

  • Exacta

A stake made on two selections to finish in first and second positions in the order predicted by the bettor.

  • Place Wager

You will have to double-check at the bookmaker offering this bet to see what it’s exact terms are. It can be either the First or Second finisher or simply a finish in the places. And how many places count towards this bet depends on how many people have taken part.

  • Show Stake

This bet is on the selection to finish first, second, or third.

  • Trifecta

A wager made on three selections to finish in the first, second, and third positions, in the correct order.