First of all, let us find out about the difference between parimutuel betting and betting or pari with the bookmaker. After all, in fact, these are two completely different types of betting and of the business on average from the point of view of operators. So, if you want to be engaged in the first type of business, you will need special parimutuel betting software.
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Although betting is a rather ancient kind of entertainments, in its modern form, people found out about it not so long time ago. If we do not take into account a traditional pari between two friends, we will be able to say that modern sports betting in bookmaker’s offices appeared just five or six centuries ago.
Even today, it is hard to imagine horse racing without bookmakers with a spreadsheet and the information written with the help of chalk on a slate board (although today they are mostly replaced by electronic displays). Bookmakers from the Hippodrome have their own special charm, and many people still choose them as a betting partner.
When gamblers place a bet in a betting shop, they always know exactly how much money they will earn if they win. Quoted prices and coefficients are known in advance. It is a great opportunity for professional players who make money on the placement of bets. However, for those who are looking mostly for a feeling of excitable, parimutuel betting is much more interesting.
In the second half of the nineteenth century, Pierre Oller, a perfume seller, was severely offended by bookmakers, and they had a grudge match. Then Pierre came up with the idea of a new type of betting.
He started to sell small tickets to each participant in the dispute. Bets in this pari were common, and they became a part of a jackpot. The amount of money that was received by players at the end depended mostly on how many bets were placed and on which outcome.
Pierre took a small commission for himself, and the jackpot was shared between the players, who guessed correctly, in accordance with the size of bets. No one could predict how much he will get until the end. This is how mutual betting appeared. It was in France, in 1865. Twelve years later, it appeared also in the USA, and in the 1920s, it became popular in Britain.
In the twenty-first century, bets can be placed via the Internet even without getting out of bed or leaving the workplace. However, the principles remained the same, except for the fact that applications from customers are accepted by operators not manually but with the use of the specialised parimutuel betting software.
Mutual betting is mostly popular in horse racing but sometimes it can excel the popularity of bets via bookmaker’s offices also in other sports, especially in golf and dog racing.
There are several basic requirements for any software that is used in the gambling business. And they are the same also for the parimutuel betting software.
Since the website for accepting bets works in the round-the-clock mode, the software must be stable, fully autonomous, and reliable. It is a business that can work offline if you configure the whole process properly.
Another reason for the requirement connected with reliability is continuous operations with money. To secure your own earnings and players' funds, you should choose only high-quality sports betting software, which was created by the manufacturer with an unblemished reputation.
Unlike bookmakers’ programs, which already contain quoted prices (and possible results of payouts), parimutuel betting software should be able to monitor the number of bets and the results of a match, calculate automatically and make payments in real time.
Mathematically, it is not that difficult. But the whole system should work online and deal with several problems simultaneously. And also accept bets of gamblers.
When you are choosing software, make sure that the one that you have selected is optimised for the mutual betting.
It is not only about horse racing but also dog racing, golf, sports, eSports, and even intellectual competitions. Modern gamblers are extremely demanding and choose only those operators who can offer a complete package of betting opportunities.
Besides, any businessman sooner or later starts to think about the expansion of his business. If everything is going well with parimutuel betting, why not try the bookmaker’s activity? And vice versa.
We recommend you to choose software that has the potential to develop your gambling business from the very beginning.
Before you connect the program, you need to determine your goals for the future, decide on the size of investments, and find reviews of experienced businessmen. Sometimes the costs of additional services are added to the price of the betting platform: payment modules, support chat, analytical and security programs.
However, all this can be purchased simultaneously and much cheaper if you order it from Bett-Market. Managers of the company will help you to compare platforms from different manufacturers, choose the option that suits your needs, and install all the programs quickly and easily.
But that is not all. Here you can also order the development of a turnkey betting business, as well as the creation of a special website for accepting bets. Bett-Market provides a full range of services for the betting business.
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