"Totalizator" Pronounce,Meaning And Examples

"Totalizator" Meaning

A totalizator is a type of betting pool in which a percentage of each bet is taken from each bet placed. This is typically done in a way that rewards the winners of races with a larger percentage of the pot based on the outcome of the event, rather than the odds offered at the time of placing the bet.

In other words, the totalizator calculates the total winnings for each event after the fact, taking into account the results of the race and the amount of money bet on each participant. The amount each winner receives is then calculated based on the total amount bet on the event, rather than a predetermined odds-based payout.

This method of betting is often used in sports betting, especially in horse racing, where the totalizator is commonly known as a "parimutuel pool." It is designed to ensure that the house or operator does not take a significant commission on each bet, and allows winners to win at a higher rate than they might with a traditional fixed-odds betting system.

"Totalizator" Examples

Usage Examples:

The newly installed totalizator board at the horse racing track had an electronic display that updated the odds in real-time.
The casino had a totalizator system that automatically calculated the chances of winning payouts for sports bets.
The professor explained the concept of the totalizator, a computer algorithm that tallies all bets and determines the winning outcome.
The neck-and-neck competition ended with a totalizator, determining the winner solely based on who covered the most distance.
Chicago’s historic carousel featuring hand-carved animals is operated by a century-old totalizator system still in use today, ticking away in a rhythmically efficient manner.