Parimutuel wagering (French for "mutual betting") as takes place in horse racing is the fairest form of gambling ever invented because the house takes a cut of

Parimutuel wagering (French for "mutual betting") as takes place in horse racing is the fairest form of gambling ever invented because the house takes a cut of all wagers. Players play against each other. The track doesn't care who wins. It was invented by a Frenchman who got tired of seeing people get cheated by bookies. :-)