Pari-mutuel Gaming Often Underestimated

Gambling News - August 11th, 2009 - Written by Glen

Pari-Mutuel gambling. Many would ask, "What is that?" The simple answer is that a pari-mutuel wager does not feature fixed odds like a sports bet or the like. Pari-mutuel wagering instead relies on odds determined by the number of bettors in correlation to the odds on a particular player in the event - be it a greyhound, a horse, a Jai-Alai player, and so on. Pari-mutuel gambling is one of the most common forms of legalized, state taxed gambling within the United States, and flawlessly generates millions for the states that hold this form of wagering.

The most common forms of pari-mutuel gambling in America are the greyhound and horse racetracks that many Americans may visit if not to gamble, then for sheer entertainment. While bettors would not expect to get rich through such methods, they still serve to bring in money for the state, which is usually directed toward education, or just for a way for the family to get together. While misunderstood by many, pari-mutuel gambling has become a staple for the state wide economies in many jurisdictions.

Florida, for example, brought in $25.7 million dollars from the $1.3 billion dollar industry that is Florida pari-mutuel wagering. Nearly $1.5 million dollars of this went straight into the education system for the state. Card rooms, which make up a portion of the income at many pari-mutuel facilities, generated an additional $9 million dollars for the state. The total amount generated from card rooms was $91 million, which amounted to a 68% increase over all. While many full blown casinos are seeing diminished profits, a simple card room is continuously rising to meet the quota. Slot gaming in the state also distributed $1.23 million to the Department of Education in Florida.

This is just one example of a nationwide endeavor. Extrapolated data could easily support the practicality of pari-mutuel wagering. While still illegal in many states, pari-mutuel gambling could be a way for those states to bring in additional income without the concern of increased crime or gambling addiction.

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