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Some Famous Betting Systems

 

by Jerry "Jet" Whittaker

February 12, 2006

 

Today betting has a world of its own. Even online betting has managed to gain a strong hold in the society. Betting is everywhere – betting in horse races, in baseball, in football, in cricket and in basketball. This is just to name a few. However what are the systems that are being applied in betting in these games? Read ahead to know about two famous systems of betting -

Parimutuel betting

It is a betting system in which bets of a particular type are placed together in a pool and taxes and house takes are removed. The payoff odds are calculated by sharing the pool among all the placed bets. It is used in gambling on horse racing, greyhound racing, jai alai and some other sporting events of relatively short duration where participants finish in a ranked order. A modification of parimutuel system is also used in some lottery games like Lotto South. Parimutuel gambling is generally state-regulated, and is offered in many places where gambling is otherwise illegal. Parimutuel gambling is also offered at "off track" facilities, where a player may bet on the event without actually being present to observe it in person. Parimutuel betting is different from fixed odds betting in that the final payout is not determined until the pool is closed – however in fixed odds betting, the payout is agreed at the time the bet is sold.

Spread betting –

Spread betting is a form of gambling, which is done on the outcome of any event where the more accurate the gamble, the more is won and conversely the less accurate the more is lost. Here, a bet is made against a 'spread', on whether the outcome will be above or below that spread. The amount that is won or lost depends on the level of the index at the end of the event. Here, the spread represents the margin of the index firms. This concept has a long history in American sports betting and was later adopted by the United Kingdom in the 1980s. In North America the bettor generally bets that the difference in the scores of two teams will be less than or greater than a certain value specified by the bookmaker.

 

 

 

 

 


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