HORSE/DOG RACING

Horse / Greyhound racing and pari-mutuel have always gone hand in hand.  Race tracks utilize a totalizator system that aggregates the bettors’ wagers into pools.  The tracks take their commission from these pools and the remaining money goes back to the bettors holding winning tickets.  Aspects of the invention will allow a racetrack / OTB / ADW operator, to offer their customers an opportunity to bet into those same common pools at a reduced take-out rate.  

For example, an ADW can give their customers Multiplier points that they can use to lower the take-out rate on races at any track the ADW offers.  In one embodiment, the modified take-out rates might be varied by the actual track host or OTB/ADW, such as by lowering the take-out at traditionally slow periods to entice additional wagers.  This would be a gamblers version of "happy hour."

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The accompanying video will illustrate this example:

Say there is $209,886 in a $1 exacta pool. After deducting a 20% track imposed take-out it leaves a net pari-mutuel pool of $167,909.  Assume there are 2,761 winning $1 exacta tickets making each ticket worth $60.81 or $60.80 after breakage.  Now, in accordance with the invention, an OTB or ADW can literally give their customers the opportunity to manually adjust the take-out on their own personal wagers.  If a customer betting into that same exacta pool lowered his take-out to only 5% his pay would be $72.21.  The host of the pool ( the racetrack ) can also do this for their select customers.  The difference in the amount of money used to pay the customer comes out of the OTB or ADW's pocket.  The host still gets their usual signal fee.  If the customer utilizing the invention lowers his take-out on bets and doesn't cash the ticket, then that customer wasted his Multiplier points.