What is pari-mutuel wagering?
Originated by a Frenchman, Pierre Oller, the word means "among ourselves". The track has no interest in which horses win or lose, but acts only as an agent. It only holds the money wagered until the finish of the race and pays the winning ticket holders the proper amount called for by the amount of the tickets.
How are odds determined?
Odds are an indication of the popularity of a given horse in comparison with others in the race. Odds are figured by dividing the amount wagered on a given horse into the total amount wagered, less the amount deducted by the track and state law.
Types of wagers
Win - You collect win money if you bet the horse that finishes first.
Place - You collect place money if you bet the horse that finishes first or second.
Show - You collect show money if you bet the horse that finishes first, second or third.
Daily Double - Select the winners of 2 consecutive races.
Exacta - Select the first two finishers of a race in exact order.
Trifecta - Select the first three finishers of a race in exact order.
Superfecta - Select the first four finishers of a race in exact order.
How to Place a Bet
To place a wager, go to one of the mutuel (betting) windows located throughout the track. State the following...
For example: Maywood Park, Race #1, $2 Win on #3
- Track you wish to wager
- Race number
- Amount of bet
- Type of bet
- Program number of horse