Parimutuel Betting | What it is, how it works, and is it for you?

Parimutuel Pool Betting

Parimutuel or pooled betting is a betting system used for well over a century. You have probably seen parimituel betting in action in the movies without even noticing.

The basics of pari-mutuel betting are as follows: All bets on potential outcomes are placed in a pool. After betting has closed the bookmaker takes their “take” and divides the spoils equality between the bettors of the winning outcome.

The difference between parimutuel and fixed odds betting is that your “take” is known only after the betting has closed since you are competition against other bettors and not the bookmaker.

PariMutuel Betting with ThunderPick:

How PariMutuel betting works for esports

The basic rules for parimutuel betting are the same for traditional sports and esports. When betting on a specific match it doesn’t differ much from moneyline betting either. You select the team you predict as the winner and await the market closure. After the match is complete and your outcome is the winner you are rewarded with your take.

What makes parimutuel different then fixed betting odds is that the odds will shift up until the last moment the market closes. This means your ideal time to place bets is either at the begging when the market opens in order to “sway” the initial betting or near the closure of the betting if you feel you might have good returns on your bet.

Parimutuel Betting Thunderpick

© ThunderPick

What this type of betting is great for is the other forms of betting it offers. Parimutuel betting is mostly used in horse and greyhound racing. The beting markets most commonly associated with this type of betting are usually focused on guessing the placements of horses in a race. Therefore, markets are usually focused on guessing the placement of a specific contestant (Place wager), Exacta (1st and 2nd place) or Trifecta (1st, 2nd and 3rd place) among others.

In esports this easily translates into guessing the placements of teams in a tournament or a league. This sort of betting markets may sometimes offer better odds than any offer on fixed odds betting due to the market being dictated by the picks of other bettors.

Where to find parimutuel betting esports markets?

Parimutuel betting has seen a steady growth in offer in the past two years. While the amount of bookmakers offering this form of esports betting is still low there is some notable bookmakers where you can try and test if this betting type is the right for you.

Below we will list just a few bookmakers from our selection of esports betting sites that offer solid pari-mutuel betting options.

Thunderpick

A recent addition to the bookmaker pool, Thunderpick is all about pari-mutuel betting in both sports and esports. They feature over 12 esports titles including CS:GO, Dota 2, League of Legends and Fortnite. Live and In-Play betting are available as well as a plethora of bonus options either through their internal currency or as deposit bonuses. They offer deposit options with most operators as well as cryptocurrency options like Bitcoin.

Parimutuel Betting Pool Betting Thunderpick

© ThunderPick

Is Pari mutuel esports betting legal?

Parimutuel betting is fully legal almost everywhere across the globe. If we are talking specifically about esports, former Nevada gov. Brian Sandoval signed a bill back in 2017 which included esports and competitive gaming as valid markets for pari-mutuel betting.

The recognition of competitive gaming and esports by the state of Nevada prompted widespread recognition and acceptance for pari mutuel betting esports markets across the globe.

Do keep in mind that each provider attains their own license, before selecting yours always check if a provider offering parimutuel betting is legitimate and licensed by a recognized governing body.

Is pari-mutuel betting the right choice for you?

Parimituel betting is an ideal choice for anyone seeking alternative odds and markets to what is traditionally available. Additionally, if you are seeking to compare bets between providers or take part in arbitrage betting, a pari-mutuel provider can sometimes offer you great counter-odds to those available on fixed odds betting platforms.

The real money however comes in when betting on exotic markets and outright placements. As the markets are swayed by other bettors adequate knowledge of the esport you are betting on is required. The favorites will not be easily pointed out to you as they are in fixed-odds betting and the real success lies with those having in-depth knowledge of the esport they are betting on.

ESB Staff

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At EsportsBets.com we are a group of independent journalists with one big passion: Esports. We've been following the industry and have contributed to its growth since 2015.

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