Online Poker
http://www.canadacasino.com

nfl line
nfl superbowl
nfl office pool picks
football predictions
nfl pools
sports handicappers
nfl football
nfl win costa rica tours
nfl confidence pool
superbowl line
super bowl squares
superbowl spreads
super bowl 2010
super bowl 44
free sport picks
nfl accessories
super bowl package
nfl point spreads
super bowl menu
nfl spreads shopping online
nfl point spread
nfl game picks
superbowl picks
superbowl picks
sports betting lines
super bowl party
nfl sports gifts
sports betting websites
superbowl 2010
superbowl packages
nfl spread costa rica fishing
superbowl 2010 date
superbowl
point spread nfl
nfl over under
college football predictions
superbowl spread
nfl basketball
monday night football picks
sports betting forums
superbowl betting
nfl college football
super bowl over under
over under superbowl
bet on super bowl
super bowl predictions
super bowl predictions
bet handicapping
nfl confidence picks
superbowl predictions
nfl super bowl collection
nfl pool picks
expert picks nfl
superbowl predictions
super bowl bets
New York casino
Asia casino
Washington casino
Japan casino
Jersey casino
super bowl betting
online super bowl betting
super bowl betting games
betting on super bowl
betting the super bowl
super bowl pools
super bowl grid
nfl super bowl xli
week nfl costa rica whale watching
nfl superbowl prop bets
bet predictions
super bowl squares template
2010 nfl superbowl
nfl confidence pool picks
super bowl prop bets
nfl matchups
San Francisco casino
Seattle casino
Tennessee casino
Texas casino
Utah casino
NFL bet
bet NFL
online casino
sportsbook
bet nfl super bowl






 

betting

betting, Blackjack, roulette, table games, slots, and scratchcards . Also includes sportsbook betting, skill games, lotteries and poker.

Monday, May 31, 2010

betting

betting



Parimutuel betting (from the French language, Pari Mutuel or mutual betting) is a betting system in which all bets of a particular type are placed together in a pool; taxes and a house "take" or "vig" are removed, and payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the Tote after the totalisator which calculates and displays bets already made.

The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and all sporting events of relatively short duration in which participants finish in a ranked order. A modified parimutuel system is also used in some lottery games.
Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed – in fixed odds betting, the payout is agreed at the time the bet is sold.

Parimutuel gambling is frequently state-regulated, and offered in many places where gambling is otherwise illegal. Parimutuel gambling is often also offered at "off track" facilities, where players may bet on the events without actually being present to observe them in person.
Consider a hypothetical event which has 8 possible outcomes, in a country using a decimal currency such as dollars. Each outcome has a certain amount of money wagered:
1 $30.00
2 $70.00
3 $12.00
4 $55.00
5 $110.00
6 $47.00
7 $150.00
8 $40.00

Thus the total pool of money on the event is $514.00. Following the start of the event, no more wagers are accepted. The event is decided and the winning outcome is determined to be Outcome 4 with $55.00 wagered. The payout is now calculated. First the commission or take for the wagering company is deducted from the pool, for example with a commission rate of 14.25% the calculation is: $514 × (1 - 0.1425) = $440.76. The remaining amount in the pool is now distributed to those who wagered on Outcome 4: $440.76 / $55 ≈ $8 per $1 wagered. This payout includes the $1 wagered plus an additional $7 profit. Thus, the odds on Outcome 4 are 7-to-1 (or, expressed as decimal odds, 8).

Often at certain times prior to the event, betting agencies will provide approximates for what should be paid out for a given outcome should no more bets be accepted at the current time. Using the wagers and commission rate above (14.25%), an approximates table in decimal odds would be:
1 $14.69
2 $6.30
3 $36.73
4 $8.01
5 $4.01
6 $9.38
7 $2.94
8 $11.02

In real-life examples such as horse racing, the pool size often extends into millions of dollars with many different types of outcomes (winning horses) and complex commission calculations.

Sometimes the amounts paid out are rounded down to a denomination interval—in the United States and Australia, 10¢ intervals are used. The rounding loss is sometimes known as breakage and is retained by the betting agency as part of the commission.

The above description of the mechanics of parimutuel wagering would suggest that it is impossible for the wagering company (the "house") to lose money, as the commission is deducted before the payouts are calculated. However, in rare circumstances, it is possible for the house to lose money on an event. This situation can occur when there are legal requirements for minimum winning payouts (for example, there may be a legal requirement to pay at least $1.10 on a winning one dollar wager). If the minimum legal winning payout exceeds the payout computed by the standard parimutuel mathematics by a sufficient amount, the house might lose money on this set of wagers.

In horse racing, a practical example of this circumstance might be when an overwhelming favorite wins. The parimutuel calculation results might call for a very small winning payout (say, $1.02 or $1.03 on a dollar bet), but the legal regulation would require a larger payout (e.g., $1.10 on a dollar bet). In North America, this condition is usually referred to as a minus pool.
Algebraic summary

In an event with a set of n possible outcomes, with wagers W1, W2, …, Wn the total pool of money on the event is

W_T = \sum^n_{i=1} W_i.

After the wagering company deducts a commission rate of r from the pool, the amount remaining to be distributed between the successful bettors is WR = WT(1 − r). Those who bet on the successful outcome m will receive a payout of WR / Wm for every dollar they bet on it.



http://www.enterbet.com




  • Register with Enterbet for 50 Bonus - Online Betting, Sports Betting, Online Poker & Online Casino.
  • Blackjack, roulette, table games, slots, and scratchcards . Also includes sportsbook betting, skill games, lotteries and poker.
  • et on World Cup, Belmont Stakes and MLB Baseball at Enterbet.com, the place where Everybody Bets since 1997. Live May 31st betting odds and betting

Labels: , , , ,



nfl sports costa rica party boat
super bowl betting
college football weekly picks
monday night football pick
free college basketball picks
college basketball picks
college football lines
college picks
free college football picks
college football picks
free nfl football picks
nfl football picks
college football line
super bowl betting line
super bowl line
nfl football pools
free nfl picks
money line super bowl
how to bet on football
nfl football pool picks
nfl week 13 picks
nfl week 12 picks
nfl week 10 picks
nfl week 11 picks
super bowl picks
nfl pro picks
nfl handicapping
free sports picks nfl
point spreads nfl
spreads nfl
usa today nfl picks
nhl picks
nfl weekly
nfl
super bowl 43
nfl beach towel
nfl flags costa rica party boat
college football weekly picks
super bowl betting lines
super bowl sports betting
Canada casino
Dakota casino
Florida casino
 Hawaii casino
Indianapolis casino
nfl week 16 picks
super bowl pool
nfl super bowl betting
super bowl betting spread
super bowl betting pool
super bowl betting pools
betting on the super bowl
super bowl las vegas betting
super bowl betting boxes
super bowl betting board
super bowl betting boards
super bowl betting chart
super bowl betting charts
super bowl betting trends
super bowl betting questions
fun super bowl betting
super bowl betting options
super bowl betting propositions
super bowl betting history    
Michigan casino
Minnesota casino
Memphis casino
Pittsburgh casino
San Diego casino
nfl bet panama fishing
nfl pick
nfl expert pick
nfl betting
nfl picks
nfl betting picks
nfl super bowl
nfl picks spread
nfl weekly picks
nfl lines
football nfl lines
nfl pool
nfl predictions
college football betting
super bowl
nfl betting lines
free betting picks
http://www.enterbet.com



 

:Copyright © 2010. Enterbet.com.