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Pari-mutuel Betting Explained

Pari-mutuel or pari-mutuel betting (from the French: Pari Mutuel – mutual betting) is a type of betting system where all bets are pooled together and the winners are paid based on the size of the pool and the number of winners. The pari-mutuel betting system is usually used in gambling on horse racing, greyhound racing and other types.

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