Pari-Mutuel Calculator
Estimate payouts based on pool size and money bet on each horse. Understand how pari-mutuel betting pools work.
How Pari-Mutuel Betting Works
Unlike fixed-odds betting where the sportsbook sets the line, pari-mutuel betting pools all wagers together. The track takes its cut (takeout), and the remaining pool is divided among winning tickets. Your payout depends on how much others bet, not a predetermined line.
Key Concepts
- Pool: Total money wagered on a particular bet type
- Takeout: Track's commission removed before payouts
- Odds: Fluctuate based on betting action until race starts
- Overlays: When a horse offers better odds than its true probability
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