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The parimutuel system was invented by Parisian perfume maker Pierre Oller in when asked by a bookmaker friend to devise a fair system for bettors which guarantees a fixed profit for the bookmaker. The large amount of calculation involved in this system led to the invention of a specialized mechanical calculating machine known as a totalisator, "automatic totalisator" or "tote board".
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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. We do not endorse, and are NOT responsible or liable for any third party content, products, or services available from such websites.
Online gambling may NOT be legal in your jurisdiction. Do NOT gamble online unless you have verified that it is legal for you to do so.