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As most people know horse racing is a contest of speed between two or more horses Usually thoroughbred To most people it would seem that horse-racing was the purest sport imaginable With tracks monitored by overlapping cameras and gates controlled by computers it seems like the honest mans game Horse-racing is a 15 billion dollar a year industry and the 2nd most widely attended spectator sport after baseball It started around 4500 bc in central Asia and for thousands of years was the sport of kings and nobility The main reason horse-racing is still around today is for the legalized gambling Horse-racing is a major professional sport in Canada Great Britain Ireland Western Europe Australia New Zealand South America and the US The most popular form of racing is thoroughbred racing But other forms of racing are harness racing steeple chase racing and quarter horse racing The legalized gambling is the main reason for horse racings long life All the betting done in American tracks is under the Pari-mutuel wagering system Under this system 14 to 25 of the amount wagered is taken out for track operating expenses racing purses and state and local taxes The remaining sum is divided by the number of individual wagers to determine the payoff or return on your bet The odds of the next race are automatically calculated by the tracks computers and displayed to the betters on screens during the betting period The odds are updated automatically every minute If the odds of a certain horse winning are 21 youll get 2 dollars for every one that you wager Say for instance that you bet 100 for a certain horse to win you will receive 200 back You can bet for a horse to win place or show If you bet for the horse to win it has to get 1st for it to place that would be 1st or 2nd And to show is 1st 2nd or
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