24th August 2015, 10:12 PM
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Member
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Join Date: Jan 2012
Posts: 291
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I still don't fully understand tote so am I taking $100k off the bookie? Or am i taking it from a pool of money and therefore not damaging the bookie's profits?
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https://en.wikipedia.org/wiki/Parimutuel_betting
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Parimutuel betting differs from fixed-odds betting in that the final payout is not determined until the pool is closed – in fixed odds betting, the payout is agreed at the time the bet is sold.
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