Pari mutuel betting football odds
Published 11.06.2021 в Mohu leaf placement tips for better
It can also be found in sports like greyhound racing and jai alai. It comes from French, and means mutual betting. Essentially it is a system in which you bet into a pool of bets, and the odds are determined by how much has been bet on each horse or entrant. It is the opposite of a fixed-odds betting system that is familiar in most of sports betting. The gambling provider - the racetrack, for example - will collect the money and administer the system, and will take a percentage of the money bet as a commission for their services.
We can use a very simple example to illustrate the basics of how a parimutuel system works. Horse A has 2 bettors betting on it to win. Horse B has 4 bettors backing it to win. Moreover, where certain elements of the present invention can be partially or fully implemented using known components and processes, only those portions of such known components and processes that are necessary for an understanding of the present invention will be described, and detailed descriptions of other portions will be omitted so as not to obscure the invention.
The following description will include: I a discussion of the general architecture and function of a preferred embodiment of a pari-mutuel sports wagering system as shown in FIG. The wagering system host 10 is the core processing element in the wagering game system, and is adapted to handle wagering, gaming and bettor accounting functions.
It should be appreciated that the wagering system host 10 need not be a single piece of equipment. Host 10 may comprise a combination of disparate devices that operate under together under stored program control to perform the described functions. The system host 10 is programmed to segregate individual bettors and accept, process and pay wagers. Host 10 is able to electronically process wagers and payouts for individual bettors.
The host 10 is further able to register individual bettors, create individual accounts, receive funds and disburse funds. The system host 10 may be configured to allow or disallow access to wagering functionality based on bettor location, allowing wagering activity only in proper and legally permissible locations. The wagering game operator may have the ability to select, remove and modify the locations where access to gaming functionality is allowed.
In the preferred embodiment, the system host 10 will further be adapted to handle electronic transfers of funds associated with the operation of the wagering game to include, but not limited to, wire transfers, electronic funds transfer, credit cards, debit cards and smart cards. In addition, the system will preferably have sufficient manual capability in order to allow manual handling of financial transactions associated with the operation of the wagering game.
For instance, the system may be adapted to handle the manual transfer of funds including, but not limited to, cash, checks, money orders, traveler's checks, credit cards, debit cards and smart cards. The majority of the manual handling will be comprised of wagering processing tasks performed by casino sportsbook personnel. A bettor can access, interface with and place bets on system by use of conventional wireless and landline communications devices, such as wireless phones 80, two-way pagers 90, personal digital assistants PDAs , internet-accessible computers , voice-over-IP VoIP phones , and conventional landline telephones System may further include human interfaces, such as a casino sportsbook operator and a wagering system operator , which the bettor can use to interface with the wagering system The casino sportsbook operator will usually interface with the wagering game system via an internet-accessible computer The wagering system operator may interface with the wagering game system via an internet-accessible computer Wireless communications network 70 provides a means or channel by which communications between the wireless devices and the wagering game system is established and a means or channel by which the wireless communications devices interface with the wagering game system System further includes a conventional gateway 50, which acts as a communications and security interface for the host The components of the wagering game system can be categorized into three basic elements: A input elements, B linking elements, and C processing elements.
These elements will be discussed in more detail below. Input Elements The input elements include various communication devices used by bettors to interact with wagering system , such as wireless phones 80 e. The bettor can interface indirectly via personal interaction with a casino sportsbook operator The casino sportsbook operator will interface directly with the wagering game system via one of the direct methods, usually via an internet-accessible computer Hence, computer may also be classified as an input element.
The bettor can interface indirectly via interaction with a wagering system operator The wagering system operator may be a casino sportsbook operator that interfaces with customers that communicate with the wagering game system via a voice network device such as a wireless phone, VoIP phone or landline telephone.
This approach is a hybrid approach since the bettor uses electronic communications devices to verbally communicate with a live operator in order to interface with the wagering game system, with the wagering system operator interfacing with the wagering game system via one of the direct methods, usually via an internet-accessible computer In this manner, computer also acts as an input element.
Linking Elements In the preferred embodiment of the present invention, system includes several linking elements including wireless network 70, gateway 50, and portal The linking elements may further include conventional wired networking elements, the internet, and other conventional communications conduits and elements.
The linking elements are communicatively coupled to the input elements and the processing elements, and allow for communication between the input and processing elements, thereby allowing bettors to place wagers from the input elements onto the processing elements. The wireless communications network 70 may comprise a number of base stations, base station controllers, mobile switches and gateways, and provides for communications between the wireless devices and the wagering game system established and the means or channel by which the wireless communications devices interface with the wagering game system.
The gateway 50 may comprise a conventional gateway device that acts as a communications interface and firewall. The IVR processor provides interface functionality to the processing elements for bettors using voice devices such as a wireless phone 80, VoIP phone or landline phone The IVR processor allows the bettor to interact with the wagering game by pressing numbers on a telephone keypad, which will allow the bettor to navigate the various menus and processes, place wagers, and perform other suitable interactions.
The IVR processor allows direct interaction with the game from bettors using a wireless phone 80, voice-over-IP VoIP phone , or landline telephone The voice portal provides interface functionality to the processing elements for bettors using certain internet-capable devices such as two-way pagers 90 or wireless PDAs The voice portal allows the bettor to interact with the wagering game by speaking directly into the telephone. The voice portal has the ability e.
Typical actions include such tasks as navigating selection menus, placing bets, entering passwords, and the like. The voice portal may also have the ability to recognize a particular bettor, through his or her speech, adding an additional layer of security. Processing Elements The wagering system host 10 is the core processing element in the wagering game system, handling wagering gaming and bettor accounting functions.
The wagering system host handles the processing functions associated with bettors' wagering accounts. Such functions may include game accounting, wager accounting, odds determination, winning wager determination, payout determination, system security, access permission and performance statistics accounting. The wagering system host 10 may be a single server, device, or a combination of devices that collectively perform the functions described. The wagering system host's processing ability can be scaled in order to meet bettor demand with respect to the described functions.
In addition, the wagering system host's processing ability can be scaled in order to meet bettor demand with respect to a particular game or demand with respect to new games. The account database 30 is a database and storage element for the wagering game system.
The account database 30 stores information regarding individual bettor accounts. The information stored includes financial transaction history, wager history, payout history, financial withholding information, financial reporting information and current wagers.
The performance statistics database 40 is a database and storage element for the wagering game system. The performance statistics database 40 stores information regarding the statistical performance of sport or event participants that are related to current and past games. The information stored would include all statistics that are pertinent to current and past games that are involved in the processing of ranking participants in order to determine wagers eligible for payout.
Historical performance statistics covering periods of time before offering particular wagering games may be stored in order to provide additional information so bettors can make more informed decisions, enhancing the ability of bettors to employ knowledge and skill.
Interfacing with Wagering System In operation, a bettor can interact with the wagering system by interfacing either directly or indirectly with the wagering system host
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Visit Parimutuel vs Fixed Odds I think the best way to explain the parimutuel betting system is to compare it to fixed odds betting system that most people are familiar with. With fixed odds betting the oddsmaker sets the odds for a particular outcome and if this outcome occurs you are paid out based on the odds you bet at, regardless of what every other individual betting on the event wagered on.
With fixed odds betting you are wagering against the sportsbook at the odds given. In contrast parimutuel betting basically involves betting against other gamblers who are betting on the same event. The potential payout for each outcome changes as more bets are placed, so the odds that you see when you place your bet, may not be the same odds that you are paid out at if more bets are placed after your wager.
Example Here is an example to show how your payout can change even after you placed your bet at certain odds. V3: The bettor must pick the winners of three nominated races at the same track. Unlike V4, V5, V65 and V75, where a bet for all races must be made before the start of the first race, in V3 the bettor selects the winner one race at a time. V4: The bettor must pick the winners of four nominated races at the same track. V5: The bettor must pick the winners of five nominated races at the same track.
V The bettor must pick the winners of six nominated races at the same track. Return is also given for combinations of five correctly picked winners, even if the same bet included all the six winners. Return is also given for combinations of five or four correctly picked winners, even if the same bet included more correct picks. V The bettor must pick the winners of seven nominated races at the same track. Return is also given for combinations of six or five winners picked correctly, even if the same bet included more correct picks.
V The bettor must pick the winners of eight nominated races at the same track. Return is also given for combinations of seven or six winners picked correctly, even if the same bet included more correct picks. Place: Select correctly the 1st, 2nd or 3rd horse in a race with 7 or more declared starters, alternatively select correctly the 1st or 2nd in a race where there are 4 to 6 declared starters. Quinella: Select correctly the 1st and 2nd horses in any order in a race. Quinella Place: Select correctly any two of the first three placed horses in any order in a race.
Tierce: Select the 1st, 2nd and 3rd horses in the correct order in a race. Trio: Select correctly the 1st, 2nd and 3rd horses in any order in a race. Quartet: Select correctly the 1st, 2nd, 3rd and 4th in correct order in a race First 4: Select correctly the 1st, 2nd, 3rd and 4th horses in any order in a race. Multiple races Double: Select correctly the 1st horse in each of the two nominated races.
There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in the first nominated race and the 2nd horse in the second nominated race. Treble: Select correctly the 1st horse in each of the three nominated races. There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in the first two Legs and the 2nd horse in the third Leg of the three nominated races.
Double Trio: Select correctly the 1st, 2nd and 3rd horses in any order in each of the two nominated races. Triple Trio: Select correctly the 1st, 2nd and 3rd in any order in each of the three nominated races. There is a consolation prize given under the conditions that the player has selected correctly the 1st, 2nd and 3rd horses in any order in the first two Legs of the three nominated races.
Six Up: Select correctly the 1st or 2nd horse in each of the six nominated races. There is a consolation prize given under the conditions that the player has selected correctly the 1st horse in each of the six nominated races. For example, betting 1, yen to Each-way means betting yen to Win and yen to Place-Show. Wager must be multiple of yen JRA-sanctioned horse racing. Betting on operators' website by PC or cellular phone only horse racing only.
If there are 7 or less starters in the race then third place is not counted and the bettor must pick a horse that finishes either first or second. This bet type is not available on events with 3 or fewer runners. Only available on races with runners.
Trio: The bettor must correctly pick the first three finishers in any order. Trio Ordre Trifecta : The bettor must correctly pick the first, second and third finishers in their finishing order. Pick5: The bettor aims to correctly pick the first five finishers in the race irrespective of the order. PMU selects races on which this bet is available.
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