1. Pari-Mutuel Wagering a mechanism for mass, skill based, contest outcome, wagering
January 6th 2017

2. What is Pari-Mutuel wagering
From the Interstate Horseracing Act “parimutuel ” means any system whereby wagers with respect to the outcome of a horserace are placed with, or in, a wagering pool conducted by a person licensed or otherwise permitted to do so under State law, and in which the participants are wagering with each other and not against the operator; From ARCI Pari-Mutuel Wagering is a form of wagering on the outcome of an event in which all wagers are pooled and held by an pari-mutuel pool host for distribution of the total amount, less the deductions authorized by law, to holders of tickets on the winning contestants. M Oller, Seine Court of Appeals, Aug Here is what simple pari mutuel betting consists of: It is a bet executed according to a mathematic and mechanical system, that has for a basis a reciprocal mutuality of operations and where the principle consists of uniting into a pool all the bets engaged in one race, and this pool is split prorate between the betters of the winning horse. This definition, whose exactitude is not known to be contested.

3. What is Pari-Mutuel wagering
From the Interstate Horseracing Act. “parimutuel ” means any system whereby wagers with respect to the outcome of a horserace are placed with, or in, a wagering pool conducted by a person licensed or otherwise permitted to do so under State law, and in which the participants are wagering with each other and not against the operator; From ARCI Pari-Mutuel Wagering is a form of wagering on the outcome of an event in which all wagers are pooled and held by an pari-mutuel pool host for distribution of the total amount, less the deductions authorized by law, to holders of tickets on the winning contestants. M Oller, Seine Court of Appeals, Aug Here is what simple pari mutuel betting consists of: It is a bet executed according to a mathematic and mechanical system, that has for a basis a reciprocal mutuality of operations and where the principle consists of uniting into a pool all the bets engaged in one race, and this pool is split prorate between the betters of the winning horse. This definition, whose exactitude is not known to be contested.
Pool
Pool
Pool

4. What is Pari-Mutuel wagering
From the Interstate Horseracing Act. “parimutuel ” means any system whereby wagers with respect to the outcome of a horserace are placed with, or in, a wagering pool conducted by a person licensed or otherwise permitted to do so under State law, and in which the participants are wagering with each other and not against the operator; From ARCI Pari-Mutuel Wagering is a form of wagering on the outcome of an event in which all wagers are pooled and held by an pari-mutuel pool host for distribution of the total amount, less the deductions authorized by law, to holders of tickets on the winning contestants. M Oller, Seine Court of Appeals, Aug Here is what simple pari mutuel betting consists of: It is a bet executed according to a mathematic and mechanical system, that has for a basis a reciprocal mutuality of operations and where the principle consists of uniting into a pool all the bets engaged in one race, and this pool is split prorate between the betters of the winning horse. This definition, whose exactitude is not known to be contested.

5. What is Pari-Mutuel wagering
From the Interstate Horseracing Act. “parimutuel ” means any system whereby wagers with respect to the outcome of a horserace are placed with, or in, a wagering pool conducted by a person licensed or otherwise permitted to do so under State law, and in which the participants are wagering with each other and not against the operator; From ARCI Pari-Mutuel Wagering is a form of wagering on the outcome of an event in which all wagers are pooled and held by an pari-mutuel pool host for distribution of the total amount, less the deductions authorized by law, to holders of tickets on the winning contestants. M Oller, Seine Court of Appeals, Aug Here is what simple pari mutuel betting consists of: It is a bet executed according to a mathematic and mechanical system, that has for a basis a reciprocal mutuality of operations and where the principle consists of uniting into a pool all the bets engaged in one race, and this pool is split prorate between the betters of the winning horse. This definition, whose exactitude is not known to be contested.
Outcome
Indifferent
Players’ Wagers Set The Payout
Paid “upfront”
Winners
Get Losers Money

6. Perhaps these Are the Core Tenets?
Pool
Perhaps these Are the Core Tenets?
Outcome
Indifferent
It is a pooling of all wagers.
The organizer receives a known percentage of the pool as a commission
The gamblers who place winning wagers share in the total of all the losing wagers in a proportion equivalent to the amount they wagered
Paid “upfront”
Winners
Get Losers Money
Players’ Wagers Set The Payout

7. Why Are You Telling Me This?
Vendors are interpreting regulations, taking products to market and thus setting de facto standards which may not fit within the regulatory framework upon further scrutiny
Uncertainty of long term compliance, hurts the pari-mutuel industry, by restricting investment and innovation and attracting short term, opportunistic organizations
A clear and easily testable definition of Pari-Mutuel Wagering can spark increased innovation and investment
Broadening the application of Pari-Mutuel wagering, to areas of existing consumer demand, is one way to address State and Federal funding issues caused by constituents who want lower taxes and more services

8. Fantasy Sports Contests Using Pari-mutuel Wagering
The Complete Infrastructure is in Place The Pari-Mutuel industry has been around for over a hundred years and has a complete turn key capability for processing Pari-Mutuel wagers on fantasy sports contests. Everything from payment for content, money room settlement, multijurisdictional taxes, IRS winnings, to money laundering has an existing proven process.
There is a Precedence The sport of Jai-alai is currently wagered on using a Pari-Mutuel approach. The process of conducting the contest for wagering is not dissimilar to Fantasy Sports Contests, where a scoring system determines an order of finish which is used to determine the outcome rather than use the raw score of the game.
Level Playing Field Concerns with the Fantasy Sports industry, like the disparity of skill, knowledge or information between participants, is the reason that Pari-Mutuel Wagering was created and allowed. Issues such as point shaving etc. are addressed by keeping the outcomes to a simple win or lose, or using only individual player performances.