RACING / SPORTS INDUSTRY
Pari-mutuel Wagering Worldwide
In pari-mutuel wagering, people bet against each other, rather than the house, with the odds being set by the level of betting on each entry. It is most commonly associated with horse racing, dog racing and jai alai, but can be applied to other events as well. Major racing “powers” include the U.S., Japan, Australia, United Kingdom, France, Italy, Ireland, Germany, Turkey and Mexico.
Pari-mutuel wagering is authorized in:
- 43 American states.
- All Canadian Provinces.
- 65 other countries around the world.
Global pari-mutuel handle is estimated at: $150 billion
GROSS PURSES
Gross purses in North America reached record levels in 2006, attributable in large part to the contribution to purses from alternative gaming at racetracks that offer such gaming, otherwise known as racinos.
Source:
The Jockey Club
For further information:
The Jockey Club
The National Thoroughbred Racing Association
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