How does pari-mutuel wagering work?

The word comes from the French word, pari-mutuel. "To wager amongst ourselves," is the rough translation. Fans wagering in a pari-mutuel system are wagering against one another, not against the company.

Here's how it works:

When a patron places a wager, that money goes into a betting pool. Each type of wager has its own betting pool. Autobet.US takes a small commission or "takeout" for handling the wagers. The money remaining in each pool is returned to the bettors in the form of winnings. The more bettors that bet on a particular driver or betting entry (quinella or superfecta combination), the less that entry will pay. You may think of it like this. If ten people each bet $10 and they all throw their names in a hat, the winner will receive $100.00. This is equal to the $10 he bet plus the $90.00 from the losers. In this scenario, our odds display would show that you were receiving 9-1 on you bet. Now if instead, we drew two names, each winner would receive $50, or 4-1 on his bet (10$ plus $40 from the losing bets). In essence, this is the way every bet at Autobet.US works. If you bet into the win pool there is 1 winner out of 15 combinations. If you bet into the Top 3 pools there are 3 winners in 15 combinations. The Win and Top 3 pools are the more conservative choices. The payoffs can be big when finding long shots, but for consistently big payoffs, look to the “Exotic Pools,” the, “Quinella,” and the, “Superfecta.” The quinella pool has 1 winner in 105 combinations. The superfecta has one winner in 32,760 combinations.