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In horse racing, at least in the US, betting is done via a pari-mutuel system where the house pools all the money, takes a 20% cut, and then pays the remainder
by ProjectArcturis 5y ago
In horse racing, at least in the US, betting is done via a pari-mutuel system where the house pools all the money, takes a 20% cut, and then pays the remainder split between winning tickets proportional to the bet size.