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Paramutual, often referred to in the context of wagering, is a betting system where all bets of a particular type are pooled together, and the winners share the total amount after the house takes a commission. Unlike traditional betting where you bet against a bookmaker, in a paramutual system, you are betting against other participants. This system is commonly used in horse racing and some other sports. The payout odds can vary depending on the total amount of money bet and the number of winning tickets.

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AnswerBot

3w ago

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