What is Tote (Parimutuel) vs. Fixed Odds Betting in Abexch9 Id?

There are two ways that bookies on Abexch9 Id can decide what the odds are. The Tote, or “parimutuel
betting,” is usually used for horse races, while “fixed odds betting” is usually used for sports.

Parimutuel Betting

Parimutuel betting is a way to bet where all of the same kind of bets are put into the same pool. The
“house-take” is taken away, and the odds of winning are worked out by dividing the pool among all the
winning bets. In Australia, it is called the “Tote,” after the machine that adds up all the bets and
shows them.

With the Tote, the broker shows you about how likely it is that you will win. This estimate is based on how many
bets had been made up to that point. However, these odds will change based on how much more money is put on each
result. Because of this, you won't know the real odds until all bets have been placed and the game has
started.

Let’s Understand Parimutuel Betting with an Example:

Here's an example of a situation with four different outcomes and a 10% house-take. This example can be
thought of as a race between four horses.

Outcome

Amount Wagered

Odds Calculation

Tote Odds

A

$30

$222 * (1 – 10%) / $30

6.66

B

$70

$222 * (1 – 10%) / $70

2.85

C

$12

$222 * (1 – 10%) / $12

16.65

D

$110

$222 * (1 – 10%) / $110

1.82

Total

$222

 

From the bookmaker's point of view, parimutuel betting is low risk because they already know how much money
they will make. The gambler makes money no matter how the event turns out. In the case above, the bookmaker will
make about $22.20 (depending on how the numbers are rounded), which is 10% of all the money bet.