Parimutuel betting on horse racing

Betting on horse racing in Malaysia is known as not only a gambling to make money for bettors but also a great entertainment activity to bring fun for people. Sometimes, people just need to access to Citibet to place bet with a small amount on the outcome of a races that will make them more exciting to watch a race. Therefore, if you are not a real gambler, you still join in betting on horse racing for fun, even win thanks to the fortune.

Some people think that they feel rather hard to understand all types of wagers because they are complicated. However, it is true that you can bet on a lot of different wagers without actually know clearly about, just to bet on a race. In this post, you will take a look at Patimutuel betting, also known as Tote betting in the game of horse race.

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There is a quite difference between Parimutuel betting, also known as Tote betting and fixed odds betting. It is a similar way for you to make your selections without odds involved and you are not betting against a bookmaker for this type of wager. As you place your bet with a Parimutuel betting organization your stake mainly goes into a pool for that race. At the end of the race, the pool is split up among all those that placed a winning wager based on how much they staked.

Hence, when you select this bet form, there are three elements that determine your racing winning including how much you staked, how much in total was staked on the race, and how many people placed a winning wager. It should be noted that the company involved will retain a percentage of each pool for their profits with a certain part and for tax purposes. They may also have to pay a levy of some kind to the relevant horse racing authority.

The existence of parimutuel betting companies in Malaysia is quite a lot. Some of these activate only at a specific racetrack and some only in a particular area. Some of them also operate on a worldwide basis. At a few racetracks you will find that parimutuel betting is your only selection, even though you are able to typically expect there to be a few on course bookmakers that take fixed odds bets too.

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