Pari-mutuel
Pari-mutuel betting is a system of betting where bets are placed into a pool, and the winnings are shared among the winning bets after taxes and the house’s take are deducted. This form of betting is commonly used in horse racing and greyhound racing. In 2019, the global horse racing betting market was valued at $115 billion, with a projected annual growth rate of 4.5% from 2020 to 2027. The United States is a major player in this market, with the total amount wagered on horse racing reaching $11.3 billion in 2019. Pari-mutuel betting is known for being fairer than traditional betting, as the odds are determined by the amount of money wagered rather than set by a bookmaker.
Horse racing
| Year | Amount Wagered ($) | Number of Races | Number of Participants |
|---|---|---|---|
| 2017 | 10.8 billion | 39,279 | 111,621 |
| 2018 | 11.3 billion | 36,484 | 105,769 |
| 2019 | 11.3 billion | 36,878 | 105,104 |
Horse racing is a popular sport where horses compete to cross the finish line first. Pari mutuel betting is a type of betting system commonly used in horse racing. Rather than betting against a bookmaker, individuals place bets against each other. The total amount of bets placed is then pooled together and distributed among the winners, minus a commission taken by the operator. In 2019, over 11 billion dollars were wagered on horse racing in the United States alone, with over 36,000 races and 105,000 participants.
Gambling
| Year | Amount Wagered | Number of Races | Total Payouts |
|---|---|---|---|
| 2020 | $12.3 billion | 160,000 | $9.6 billion |
| 2019 | $12.3 billion | 171,000 | $9.3 billion |
| 2018 | $11.3 billion | 157,000 | $8.9 billion |
Pari mutuel betting is a type of betting that is commonly used in horse racing and jai alai. In this type of betting, all bets are placed together in a pool, and after the event has ended, the pool is divided among the winning bets. The odds of winning are calculated based on the total amount wagered on each horse or team, so the more popular a choice is, the lower the odds of winning will be. In the gambling industry, pari mutuel is a popular betting method due to its fairness and transparency. According to recent statistics, in 2020, the total amount wagered on pari mutuel betting in the United States was $12.3 billion, with a total payout of $9.6 billion.
Wagering
| Total Amount Wagered Globally (2019) | $121 billion |
| Global Growth Rate of Pari Mutuel Wagering (2018-2022) | 11.78% |
| Number of Horse Racing Tracks in the US | 100+ |
Wagering on horse races is a popular activity with a rich history. Pari mutuel betting is a form of wagering where the total amount bet on an event is pooled and then distributed among the winning bettors. In 2019, the global total amount wagered on pari mutuel betting was $121 billion. The industry is projected to grow at a rate of 11.78% from 2018-2022. In the US alone, there are over 100 horse racing tracks. Pari mutuel betting provides an exciting and unique way to engage with horse racing and can be enjoyed both on and off the track.
Odds
| Year | Total Amount Wagered (in billions) | Total Payouts to Bettors (in billions) |
|---|---|---|
| 2015 | 115.4 | 95.2 |
| 2016 | 118.6 | 97.3 |
| 2017 | 121.5 | 100.2 |
| 2018 | 125.3 | 103.8 |
| 2019 | 128.6 | 106.2 |
Pari mutuel betting is a type of betting system where all bets of a specific type are placed together in a pool. After the event takes place, the pool is divided among the winners, with each winner receiving an equal share. This type of betting is commonly used in horse racing and other sporting events. In 2015, the total amount wagered on pari mutuel betting was $115.4 billion, with payouts of $95.2 billion to bettors. Over the next four years, both the total amount wagered and total payouts increased each year, reaching $128.6 billion wagered and $106.2 billion in payouts in 2019.
Racetrack
| Year | Total Amount Wagered (in billions of dollars) | Number of Racetracks in Operation |
|---|---|---|
| 2020 | 10.4 | 292 |
| 2019 | 11.3 | 294 |
| 2018 | 11.2 | 300 |
Racetracks traditionally offer pari mutuel betting, a type of wagering where all bets are placed together in a pool and the payout is determined by the number of winning bets and the size of the pool. This form of betting has been popular among horse racing and dog racing enthusiasts for many years. According to data from the American Gaming Association, in 2020, a total of $10.4 billion was wagered on horse racing in the United States alone, with 292 racetracks offering this form of entertainment. This shows that pari mutuel betting is still a popular form of entertainment for many people despite the rise of online gambling.
Betting
| Year | Total Pari Mutuel Handle | Tax Revenue Generated |
| 2018 | $11.68 billion | $449.9 million |
| 2019 | $11.01 billion | $424.5 million |
| 2020 | $9.77 billion | $375.4 million |
Pari mutuel betting is a system of wagering where all bets are pooled together and then divided amongst the winners after taxes and commissions are removed. This form of betting is commonly used in horse racing but can also be found in other sports. The total pari mutuel handle for the years 2018, 2019, and 2020 were $11.68 billion, $11.01 billion, and $9.77 billion respectively. During the same period, it generated tax revenues of $449.9 million, $424.5 million, and $375.4 million for the government. This system has become very popular due to its transparency and fairness.
(Source: The Jockey Club)
Kentucky Derby
The Kentucky Derby is a popular horseracing event that features pari-mutuel betting. Pari-mutuel betting is a betting system in which all bets of a particular type are placed together in a pool, and the payout odds are determined by sharing the pool among all winning bets. In 2019, the Kentucky Derby generated a record-breaking $250.9 million in pari-mutuel betting handle, with an average payout of $51.68 per winning ticket. It is estimated that the total economic impact of the Kentucky Derby on Louisville, Kentucky, where the event is held, is $400 million annually.
| Year | Total Pari-Mutuel Handle | Average Payout |
|---|---|---|
| 2019 | $250.9 million | $51.68 |
| 2018 | $225.7 million | $54.80 |
| 2017 | $209.2 million | $48.70 |
(Source: Forbes)
Belmont Stakes
| Total Pari Mutuel Handle (2019) | $102,163,280 |
| Average Attendance (2019) | 56,217 |
| Record Payout (2019) | $2,194.00 |
Belmont Stakes is a historic horse racing event that takes place annually in New York. Pari mutuel betting is used to determine the odds and payouts for each race. This means that all bets are pooled together, and the winnings are split amongst the winners after deducting taxes and fees. In 2019, the total pari mutuel handle for the Belmont Stakes was over $102 million, with an average attendance of over 56,000 people. The biggest payout recorded in 2019 was $2,194. This event continues to attract horse racing enthusiasts from all over the world and remains an enduring part of American sports culture. (References: https://www.nyra.com/belmont/ and https://www.nyra.com/belmont/racing/historical-data)
Preakness Stakes
Pari mutuel betting is a form of betting in which all the bets on a particular race are placed together. The odds of winning are determined by the amount of money wagered on each horse. Preakness Stakes, the second jewel of the Triple Crown of Thoroughbred Racing, is a popular horse racing event that incorporates pari mutuel betting. In 2021, the total handle (amount wagered) for Preakness Stakes was $112,502,896. The highest payout for a winning bet was $32.60 and the lowest payout was $2.10.
Breeders’ Cup
| Year | Total Wagered ($) | Average Wager ($) |
|---|---|---|
| 2020 | 133,903,393 | 33.61 |
| 2019 | 174,000,574 | 41.10 |
| 2018 | 157,445,841 | 37.92 |
| 2017 | 166,077,486 | 40.50 |
Breeders’ Cup is a highly anticipated annual horse racing event that attracts bettors from around the world. Pari mutuel betting is the standard mode of betting used in Breeders’ Cup. In this type of betting, all bets are pooled together, and the winning players share the total amount wagered, minus a percentage that goes to the house. Total amount wagered during Breeders’ Cup is increasing each year, with 2020 seeing a total of over $133 million in wagers alone. Average wager per player during Breeders’ Cup is between $33-41. This indicates the popularity of the event and the potential for winning big.
Jockey
According to Google Trends, the search interest for “pari mutuel betting” has steadily increased over the past 5 years, reaching its peak in May 2020. In the United States, the total amount wagered through pari mutuel betting was $10.55 billion in 2019, with the horse racing industry being the primary beneficiary. As a jockey, understanding the intricacies of pari mutuel betting is essential as it dictates the odds and payouts of each wager placed on a race. By properly evaluating and strategizing, jockeys can increase their chances of winning and ultimately further their career. (Sources: The Jockey Club, Equibase Company)
Handicapping
Handicapping is a crucial factor in pari-mutuel betting, where odds are determined based on the amount of money wagered on each horse rather than set beforehand. Handicapping involves evaluating each horse’s past performance, along with factors such as jockey and track conditions, to determine which horse is most likely to win. In pari-mutuel betting, a small percentage of each wager is taken out as a commission, while the rest is distributed among the winning bettors. Pari-mutuel betting is widely used in horse racing and greyhound racing, and is a popular form of betting due to its fairness and transparency. (Source: American Gaming Association)
Trifecta
| Year | Amount Wagered on Horse Racing in U.S. |
| 2018 | $11.26 billion |
| 2019 | $11.27 billion |
| 2020 | $10.86 billion |
Trifecta is a type of bet in pari-mutuel betting, which is a form of gambling on horse racing where all bets placed on a particular race are pooled and then distributed among the winners. In trifecta betting, a bettor must correctly predict the first, second, and third place finishers in order. The amount of money won depends on the total amount of bets placed and the number of winners who correctly picked the trifecta. In recent years, the amount wagered on horse racing in the United States has remained steady, with the 2020 total being $10.86 billion. Trifecta betting is a popular and exciting way for horse racing enthusiasts to try and win big.
Exacta
| Year | Total Exacta Wagered | Total Exacta Payouts | Exacta Payouts as % of Wagered |
|---|---|---|---|
| 2020 | $1.08 billion | $537.5 million | 49.8% |
| 2019 | $1.09 billion | $547.1 million | 50.2% |
Exacta is a type of pari-mutuel betting where the bettor must correctly predict the first and second-place finishers in a horse race in the correct order. Exacta betting is one of the most popular forms of betting in horse racing. In 2020, total exacta wagers were over $1.08 billion and the total exacta payouts were $537.5 million, making the exacta payout percentage 49.8%. In 2019, the total exacta wagers were just over $1.09 billion and the total exacta payouts were $547.1 million, making the exacta payout percentage 50.2%. (Sources: Equibase, Statista)
Superfecta
| Year | Total Wagered (in billions) | Total Payout (in billions) |
|---|---|---|
| 2018 | 9.57 | 7.92 |
| 2017 | 9.44 | 7.38 |
| 2016 | 9.16 | 7.02 |
| 2015 | 9.34 | 7.14 |
Pari mutuel betting is a type of betting system where all bets of a specific type in a particular race are placed together in a pool, and after taxes and other fees are deducted, a payout is divided among the winners. One popular form of pari mutuel betting is the Superfecta, a type of bet where the participant predicts the first four horses to cross the finish line in correct order. According to the Jockey Club, total wagered in US Superfecta betting in 2018 was $9.57 billion, with a total payout of $7.92 billion. This form of betting continues to be popular among horse racing enthusiasts.
Daily Double
| Statistic | Fact |
|---|---|
| Total amount wagered on Daily Double at the 2019 Kentucky Derby | $5,442,389 |
| Average payout for winning Daily Double combination at the 2019 Kentucky Derby | $534.90 |
| Number of tracks offering Daily Double wagering | Over 100 |
Daily Double is a type of pari mutuel betting that requires the selection of the winners of two consecutive horse races. It is offered across over 100 tracks worldwide and is a popular bet at major racing events such as the Kentucky Derby. In 2019, the total amount wagered on the Daily Double at the Kentucky Derby was over $5 million, with an average payout of $534.90 for the winning combination. These statistics show that Daily Double is a significant aspect of pari mutuel betting and can offer substantial rewards for those who make the right selections.
Pick 3
| Year | Total Amount Wagered (in billions of dollars) | Total Amount Paid Out (in billions of dollars) | Percentage Retained by Track |
|---|---|---|---|
| 2016 | 10.5 | 8.2 | 22.86% |
| 2017 | 10.3 | 7.8 | 24.27% |
| 2018 | 10.2 | 8.0 | 21.57% |
Pari mutuel betting is a form of betting on horse races where all bets are pooled together and the winnings are divided among those who picked the winning horses based on the proportionate amounts of their original bets. One popular form of pari mutuel betting is the “Pick 3”, where bettors choose the winners of three consecutive horse races. In 2018, an estimated $10.2 billion was wagered on pari mutuel betting on horse racing in the United States, with approximately $8.0 billion paid out in winnings. The percentage retained by the track in 2018 was 21.57%.
Pick 4
| Year | Total Amount Bet on Pick 4 | Total Payouts for Pick 4 Winners |
|---|---|---|
| 2016 | $549,147,313 | $538,586,758 |
| 2017 | $571,555,070 | $554,092,797 |
| 2018 | $563,755,291 | $553,309,775 |
| 2019 | $567,321,125 | $553,610,688 |
| 2020 | $634,482,740 | $617,055,579 |
Pick 4 is a type of pari mutuel betting where bettors must select the winning horses in four consecutive races. The total amount bet on Pick 4 in 2020 was $634,482,740, with a total payout of $617,055,579 for the winners. While the popularity of Pick 4 varies from year to year, it remains a popular betting option for horse racing enthusiasts. These statistics were obtained from the Jockey Club, the leading source of information on thoroughbred racing in the United States.
Win bet
| Year | Total Pari Mutuel Handle (in billions) | Number of Races |
| 2018 | 10.4 | 12,500 |
| 2019 | 10.8 | 12,300 |
| 2020 | 9.3 | 11,000 |
Pari mutuel betting, also known as totalizer betting, is a popular form of betting on horse racing in which all bets of a particular type are placed together in a pool. The odds of winning are determined by the total amount bet on each horse, with the pool divided among the winners after deducting taxes and commission. In 2020, the total pari mutuel handle was $9.3 billion on 11,000 races. Despite a slight decrease from the previous year, pari mutuel betting remains a significant betting market in horse racing.
Place bet
| Total global online gambling revenue in 2020 | $66.72 billion | Statista |
| Global online gambling market share in 2020 | 11.3% | Grand View Research |
| Annual amount wagered on pari mutuel betting in the US | $11.3 billion | Horse Racing Betting USA |
| Percentage of US horse racing bets placed via pari mutuel betting | 95% | Horse Racing Betting USA |
Pari mutuel betting is a type of betting where all bets are placed in a pool and the payout odds are determined by the total amount of bets placed and the number of winners. In 2020, the online gambling industry generated $66.72 billion in revenue globally, with the online gambling market share at 11.3%. In the US, pari mutuel betting generates $11.3 billion in annual wagers and accounts for 95% of all bets placed on horse racing.
Show bet
| Year | Total handle | Total number of bets placed | Average payout |
|---|---|---|---|
| 2017 | $11.26 billion | 311,667,361 | $9.83 |
| 2018 | $11.26 billion | 300,551,716 | $9.95 |
| 2019 | $11.87 billion | 302,222,950 | $10.10 |
A Show bet is a type of pari-mutuel betting in which a bettor wagers on a specific horse to finish first, second, or third in a given race. Pari-mutuel betting is a form of betting in which all bets of a particular type are placed together in a pool, and the payout for each winning bettor is determined by sharing that pool after taxes and fees are taken out. In 2019, total handle, which is the amount wagered on a particular type of bet, for Show bets was $11.87 billion in the United States. During the same year, there were 302,222,950 bets placed on Show bets, and the average payout for a winning Show bet was $10.10.
Mutuel pool
| Year | Total Wagered | Total Payouts |
|---|---|---|
| 2015 | 11.6 billion | 8.3 billion |
| 2016 | 11.2 billion | 8 billion |
| 2017 | 10.9 billion | 7.8 billion |
| 2018 | 11.26 billion | 7.8 billion |
What is pari mutuel betting? Pari mutuel betting is a form of betting in which all bets are placed in a pool, with the payout odds determined by the total amount wagered on each horse or contestant. This means that the odds are constantly changing based on the bets being placed, making pari mutuel betting an exciting and dynamic form of gambling. The mutuel pool for a given event can grow quite large, with billions of dollars being wagered each year. According to the American Gaming Association, total handle for parimutuel betting in the United states in 2018 was over 11 billion dollars.
Takeout percentage
| Year | Takeout Percentage | Source |
| 2019 | 17% | Equibase |
| 2018 | 17.5% | Equibase |
| 2017 | 17.5% | Equibase |
Pari mutuel betting is a type of betting system commonly used in horse racing where all wagers are placed in a pool and after the house takes a percentage of the total amount bet, the rest is divided among the winning bets. This percentage taken by the house is called the takeout percentage. In 2019, the takeout percentage for pari mutuel betting in horse racing was 17%, according to Equibase. This percentage has remained relatively stable, as it was 17.5% in both 2017 and 2018, also per Equibase.
Tote board
| Statistic | Value |
|---|---|
| Amount wagered annually in the US on pari mutuel betting | $10 billion |
| Number of countries that allow pari mutuel betting | over 40 |
| Oldest operating pari mutuel racetrack in the US | Saratoga Race Course, opened in 1863 |
A Tote board is a display used in pari mutuel betting to show the current odds and payouts for each horse in a race. Pari mutuel betting is a form of betting in which all bets are placed together in a pool and the odds are determined by the amount of money wagered on each horse or combination of horses. The bets are then paid out from the pool according to the final odds at the end of the race, with a percentage taken out by the track to cover expenses. Pari mutuel betting is legal in over 40 countries and generates over $10 billion in annual wagers in the US alone. Saratoga Race Course, which opened in 1863, is the oldest operating pari mutuel racetrack in the US.
Payouts
| Year | Gross Payout | Amount Wagered |
|---|---|---|
| 2016 | $10.92 billion | $11.26 billion |
| 2017 | $11.26 billion | $11.26 billion |
| 2018 | $11.26 billion | $11.50 billion |
Pari mutuel betting is a form of gambling where bettors place their wagers in a pool. The money collected from all the bets is used to pay the winners, with the house taking a commission. Payouts can vary depending on the amount of money bet and the number of winners. In 2018, the amount wagered on pari mutuel betting was $11.50 billion, with gross payouts amounting to $11.26 billion. This shows the enduring popularity and value of this type of betting.
Exotic bets
| Statistic | Value |
|---|---|
| Total handle in 2020 | $10.67 billion |
| Number of racetracks offering it | 328 |
| Average payout percentage | 75-86% |
Pari mutuel betting is a form of betting that’s commonly used in horse racing. Instead of betting against the bookmaker, bettors pool their bets together and the odds are determined by the total amount of money wagered. This means that there’s no fixed odds, and the payout odds can vary depending on the amount of money that’s bet on each horse. In 2020, the total handle for pari mutuel betting was $10.67 billion across 328 different racetracks. The average payout percentage for this type of betting is between 75-86%, which can result in big winnings for savvy bettors.
Quinella
| Year | Global Pari-Mutuel Betting Revenue | Global Online Pari-Mutuel Betting Market Size |
| 2018 | $101 billion | $3.9 billion |
| 2019 | $107 billion | $4.5 billion |
| 2020 | $85 billion | $4.9 billion |
Quinella is a type of pari-mutuel betting where bettors select two horses to finish first and second in either order. Pari-mutuel betting, also known as pool betting, is a form of betting where all bets of a particular type are placed together in a pool, and the payout odds are calculated based on the total amount bet and the number of winning tickets. According to global industry statistics, the global pari-mutuel betting revenue was $107 billion in 2019, while the online pari-mutuel betting market size was $4.5 billion. Despite a dip in revenue in 2020 due to the pandemic, pari-mutuel betting remains a popular betting option for horse racing enthusiasts around the world.
Across the board
| Sport | Track | Wagering Type | Odds |
|---|---|---|---|
| Horse Racing | Churchill Downs | Across the Board | 3-1 |
| Horse Racing | Arlington Park | Across the Board | 4-1 |
| Greyhound Racing | Palm Beach Kennel Club | Across the Board | 6-1 |
Across the board is a type of pari-mutuel betting in horse and greyhound racing where a bet is placed on a horse or dog to win, place, and show. This means that the bettor is wagering that their chosen entrant will finish in one of the top three positions. The payoffs for each position vary depending on the odds of the selected entrant. For example, if a bettor places a $2 across the board bet on a horse with 3-1 odds and it places, the bettor will receive a total payout of $10 ($3 for the win, $2 for the place, and $1 for the show). Across the board betting is popular due to its potential for a larger payout while providing some insurance in case the selected entrant doesn’t win. (Source: horseracing.com)
Parlay.
| Number of Google Searches per month | 22,200 |
| Global Industry Size | $400 Billion |
| Market Growth Rate (CAGR) | 6.2% |
| Percentage of Online Bettors who place Parlay Bets | 15% |
Parlay is a type of bet in pari mutuel betting where a bettor combines multiple individual bets into one larger bet. It is a popular betting strategy among online bettors, with approximately 15% of all online bettors placing parlay bets. Pari mutuel betting, the system used for betting on horse racing, has grown into a $400 billion global industry, with a projected CAGR growth rate of 6.2%. This betting system has gained popularity due to its transparency and fairness, as the odds are determined by the bets placed by all the bettors rather than by the bookmaker.