Thursday, July 22, 2021

How Pari-Mutuel Betting Works



Based in Kentucky, Nelson Clemmens guides AmWest Entertainment, LLC, and AmWager, a subsidiary horse racing online betting platform. Nelson Clemmens’ company offers a high-speed wagering solution that works on a variety of devices and offers nearly 400 racecourses. AmWager commingles wagers received into pari-mutuel pools with no limits placed on any single bet and its payout potential.

Meaning 'to wager among ourselves' in French, pari-mutuel is a form of betting where the odds aren’t fixed, unlike when wagering against a bookmaker. Instead, every wager enters a pool and those who select the winning horse share the money after the takeout deduction.

Pari-mutuel participants receive probable odds that reflect the betting pool breakdown at the moment they place their bets before the event. The odds can shift should wagering sentiment suddenly change. Wagers that attract the largest number of bets pay out less. If 50 of 100 bettors select a steed and that horse wins, the total pool splits among the 50 winning bettors. If only 10 people select the winner, 10 people claim the funds instead of 50 for a higher individual payout.