section_path: Types/Fixed-odds betting/Parimutuel betting
section_name: Parimutuel betting
paragraph_text: Parimutuel betting
  
  One of the most widespread forms of gambling involves betting on horse or greyhound racing. Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started.