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Parimutuel
Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, 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. In short, the word ''parimutuel'' implies tiered winnings/earnings. The parimutuel system is used in gambling on horse racing, greyhound racing, jai alai, and other 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. Definition 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 ga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Horse Racing
Horse racing is an equestrian performance sport, typically involving two or more horses ridden by jockeys (or sometimes driven without riders) over a set distance for competition. It is one of the most ancient of all sports, as its basic premise – to identify which of two or more horses is the fastest over a set course or distance – has been mostly unchanged since at least classical antiquity. Horse races vary widely in format, and many countries have developed their own particular traditions around the sport. Variations include restricting races to particular breeds, running over obstacles, running over different distances, running on different track surfaces, and running in different gaits. In some races, horses are assigned different weights to carry to reflect differences in ability, a process known as handicapping. While horses are sometimes raced purely for sport, a major part of horse racing's interest and economic importance is in the gambling associated with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Betting On The Favorite
Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; ''i.e.'', a "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Greyhound Racing
Greyhound racing is an organized, competitive sport in which greyhounds are raced around a track. There are two forms of greyhound racing, track racing (normally around an oval track) and coursing; the latter is now banned in most countries. Track racing uses an artificial lure (usually a form of windsock) that travels ahead of the greyhounds on a rail until the greyhounds cross the finish line. As with horse racing, greyhound races often allow the public to bet on the outcome. In many countries, greyhound racing is purely amateur and solely for enjoyment. In other countries, particularly Australia, Ireland, the United Kingdom, and the United States, greyhound racing is similar to horse racing in that it is part of the gambling industry. Animal rights and animal welfare groups have been critical of the welfare of greyhounds in the commercial racing industry for many years which has contributed to the reforms of the industries in recent years. A greyhound adoption movement sp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gambling
Gambling (also known as betting or gaming) is the wagering of something of value ("the stakes") on a random event with the intent of winning something else of value, where instances of strategy are discounted. Gambling thus requires three elements to be present: consideration (an amount wagered), risk (chance), and a prize. The outcome of the wager is often immediate, such as a single roll of dice, a spin of a roulette wheel, or a horse crossing the finish line, but longer time frames are also common, allowing wagers on the outcome of a future sports contest or even an entire sports season. The term "gaming" in this context typically refers to instances in which the activity has been specifically permitted by law. The two words are not mutually exclusive; ''i.e.'', a "gaming" company offers (legal) "gambling" activities to the public and may be regulated by one of many gaming control boards, for example, the Nevada Gaming Control Board. However, this distinction is not u ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Totalisator
A tote board (or totalisator/totalizator) is a numeric or alphanumeric display used to convey information, typically at a race track (to display the odds or payoffs for each horse) or at a telethon (to display the total amount donated to the charitable organization sponsoring the event). The term "tote board" comes from the colloquialism for "totalizator" (or "totalisator"), the name for the automated system which runs parimutuel betting, calculating payoff odds, displaying them, and producing tickets based on incoming bets. Parimutuel systems had used totalisator boards since the 1860s and they were often housed in substantial buildings. However the manual systems often resulted in substantial delays in calculations of clients' payouts. The first all-mechanical totalisator was invented by George Julius. Julius was a consulting engineer, based in Sydney. His father, Churchill Julius, an Anglican Bishop, had campaigned, in the early years of the twentieth century, against the ini ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Oller
Josep Oller i Roca (1839–1922) was a Catalan entrepreneur who lived in Paris for most of his life. He co-founded the famous cabaret Moulin Rouge with Charles Zidler and was the inventor of the parimutuel betting. Biography Born in Terrassa, Josep Oller emigrated to France with his family as a child. Later, he moved back to Spain to study at the university in Bilbao. There, he became fond of cockfighting and started his career as a bookmaker. Once in Paris, in 1867, Josep Oller invented a new method of wagering, which he named Pari Mutuel (French for Parimutuel betting). He successfully introduced his pool method system at French race tracks. Nonetheless, in 1874, Josep Oller was sentenced to fifteen days in prison and fined for operating illegal gambling. Later, in 1891, the French authorities legalised his system and banned fixed-odds betting. Quickly, Oller's Pari Mutuel spread across most race tracks around the world, but the method was operationalised in engineered system ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tote Board
A tote board (or totalisator/totalizator) is a numeric or alphanumeric display used to convey information, typically at a race track (to display the odds or payoffs for each horse) or at a telethon (to display the total amount donated to the charitable organization sponsoring the event). The term "tote board" comes from the colloquialism for "totalizator" (or "totalisator"), the name for the automated system which runs parimutuel betting, calculating payoff odds, displaying them, and producing tickets based on incoming bets. Parimutuel systems had used totalisator boards since the 1860s and they were often housed in substantial buildings. However the manual systems often resulted in substantial delays in calculations of clients' payouts. The first all-mechanical totalisator was invented by George Julius. Julius was a consulting engineer, based in Sydney. His father, Churchill Julius, an Anglican Bishop, had campaigned, in the early years of the twentieth century, against the ini ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Illinois
Illinois ( ) is a state in the Midwestern United States. Its largest metropolitan areas include the Chicago metropolitan area, and the Metro East section, of Greater St. Louis. Other smaller metropolitan areas include, Peoria and Rockford, as well Springfield, its capital. Of the fifty U.S. states, Illinois has the fifth-largest gross domestic product (GDP), the sixth-largest population, and the 25th-largest land area. Illinois has a highly diverse economy, with the global city of Chicago in the northeast, major industrial and agricultural hubs in the north and center, and natural resources such as coal, timber, and petroleum in the south. Owing to its central location and favorable geography, the state is a major transportation hub: the Port of Chicago has access to the Atlantic Ocean through the Great Lakes and Saint Lawrence Seaway and to the Gulf of Mexico from the Mississippi River via the Illinois Waterway. Additionally, the Mississippi, Ohio, and Wabas ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago Motor Speedway
The Chicago Motor Speedway at Sportsman's Park was a motorsports race track, located in Cicero, Illinois, just outside Chicago. It was built in 1999 by a group including Chip Ganassi, owner of Chip Ganassi Racing. In 2002 the oval shaped track suspended operations due to financial conditions in the motorsports industry. The track was also the site of horse races, for which the track was called "Sportsman's Park". The track was one of two racetracks that hosted both NASCAR auto races and horse races (the other is Dover International Speedway). History Before 1999, Sportsman's Park was one of the premier locations for horse racing in the area. Hawthorne Race Course, located right across the street to the south from the track, is the current host of the Illinois Derby. The two tracks operated together for decades. In 1999, after the final season of the old Sportsman's Park, the main grandstand and infield were completely demolished to make way for the massive grandstand that wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chicago
(''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name = United States , subdivision_type1 = State , subdivision_type2 = Counties , subdivision_name1 = Illinois , subdivision_name2 = Cook and DuPage , established_title = Settled , established_date = , established_title2 = Incorporated (city) , established_date2 = , founder = Jean Baptiste Point du Sable , government_type = Mayor–council , governing_body = Chicago City Council , leader_title = Mayor , leader_name = Lori Lightfoot ( D) , leader_title1 = City Clerk , leader_name1 = Anna Valencia ( D) , unit_pref = Imperial , area_footnotes = , area_total ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Impresario
An impresario (from the Italian ''impresa'', "an enterprise or undertaking") is a person who organizes and often finances concerts, plays, or operas, performing a role in stage arts that is similar to that of a film or television producer. History The term originated in the social and economic world of Italian opera, in which from the mid-18th century to the 1830s, the impresario was the key figure in the organization of a lyric season. The owners of the theatre, usually amateurs from the nobility, charged the impresario with hiring a composer (until the 1850s operas were expected to be new) and the orchestra, singers, costumes and sets, all while assuming considerable financial risk. In 1786 Wolfgang Amadeus Mozart satirized the stress and emotional mayhem in a single-act farce ''Der Schauspieldirektor'' (''The Impresario''). Antonio Vivaldi was unusual in acting as both impresario and composer; in 1714 he managed seasons at Teatro San Angelo in Venice, where his opera ''Orla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arlington Park
Arlington International Racecourse (formerly Arlington Park, the name was Arlington Park Jockey Club from as soon as 1948 up to 1955) was a horse race track in the Chicago suburb of Arlington Heights, Illinois. Horse racing in the Chicago region had been a popular sport since the early days of the city in the 1830s, and at one time Chicago had more horse racing tracks (six) than any other major metropolitan area. Arlington International was the site of the first thoroughbred race with a million-dollar purse in 1981. It was located near the Illinois Route 53 expressway. It was serviced by the Chicago and Northwestern Railroad. The premier event at Arlington Park was the International Festival of Racing, held in early August, which featured three Grade 1 races on turf: the Arlington Million Stakes, Beverly D. Stakes and Secretariat Stakes. Owner Churchill Downs Inc. announced plans in February 2021 to sell all 326 acres of Arlington Park property for redevelopment. On Septe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
