How does totalizator betting work exactly in Australia? You give the familiar definition of putting all bets into a pool, taking out the house cut, and sharing the remaining among the winners. However, the PPT reads "[tote] is a device used at race tracks to calculate and display odds or payoffs for each horse". I may be misunderstanding this.
Great video! I like how you break companies down.
great coverage, thank you!
Great write-up, Michael.
How does totalizator betting work exactly in Australia? You give the familiar definition of putting all bets into a pool, taking out the house cut, and sharing the remaining among the winners. However, the PPT reads "[tote] is a device used at race tracks to calculate and display odds or payoffs for each horse". I may be misunderstanding this.