Totalisator Meaning: Definition, Examples, and Translations
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totalisator
[tษสหtรฆlษชsษหteษชษ ]
Definition
gambling system
A totalisator is a system used to calculate and record wagers placed on various events, especially in the context of horse racing. It operates by pooling the money wagered by all bettors and distributing the winnings based on the odds calculated from the total amount wagered. Unlike traditional betting, where odds are fixed, the totalisator updates odds dynamically based on incoming bets. This system allows for a more fluid betting experience, encouraging more bets as participants can see the current payouts. It is commonly found in racetracks and is integral to many betting operations worldwide.
Synonyms
betting pool, pari-mutuel system, wagering system.
Examples of usage
- The totalisator indicated a significant increase in bets for the afternoon race.
- She placed her wager at the totalisator before heading to the grandstand.
- The new totalisator software improved the speed of processing bets.
- Betting on the totalisator can yield higher returns depending on the number of participants.
Translations
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Interesting Facts
Historical Origins
- The totalisator originated in the late 19th century in Australia, revolutionizing how bets were collected and displayed.
- The first successful totalisator was invented by Albert McGowan in 1878, known as the 'Totalisator Royal.'
- The system quickly spread to racetracks globally, making betting more organized and precise.
Technology
- Modern totalisators employ sophisticated computer systems, enabling rapid calculations and real-time updates for bettors.
- Satellite and internet technologies allow online betting, expanding the reach of traditional totalisator systems beyond physical racetracks.
- Some advanced versions also include features like data analytics to predict outcomes based on betting patterns.
Culture
- Totalisators have become a cultural staple at horse races, often associated with the excitement and glamour of the event.
- In pop culture, totalisators are referenced in movies and books, depicting the thrilling world of gambling and betting.
- Various countries have their own unique adaptations of the totalisator, reflecting local customs and betting regulations.
Economics
- Totalisator betting contributes to significant revenue for racing organizations, helping finance the industry.
- The amount of money pooled in totalisator systems can affect odds and payouts, influencing how participants place bets.
- Governments often regulate totalisators to ensure fair play and proper taxation of gambling revenues.
Sport
- Totalisators are widely used in various sports betting, not just horse racing, including dog racing and some ball sports.
- The system allows bettors to win by correctly predicting the winners of events, increasing competitive spirit among participants.
- Experts often analyze past totalisator data to identify trends and improve their betting strategies.
Origin of 'totalisator'
The term 'totalisator' has its roots in the Latin word 'totalis', which pertains to 'the whole' or 'entire'. The concept emerged in the late 19th century and became prominent in the context of gambling, particularly horse racing. Initially introduced in France, the first functional totalisator was developed by a French engineer named Pierre Oller in 1867. The system was designed to enhance the betting process by pooling wagers and allowing for variable odds, which could shift as more bets were placed. This revolutionary approach to betting quickly spread to various countries, where it was adopted in racetracks and betting establishments. Today, totalisator systems are widely used in numerous sports betting scenarios, ensuring that they remain a fundamental aspect of gambling culture in many parts of the world.