TOTALISATOR Meaning and
Definition
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A totalisator, also known as a Tote, is a type of automated betting system used primarily in horse racing and other forms of gambling to calculate and distribute payouts to winning bettors. It is a complex network of computers, software, and terminals that manages and processes bets, calculates odds, and determines the final payouts based on the outcome of a race or event.
The totalisator system works by collecting money from bettors into a common pool, which forms the prize fund. The amount wagered on each horse or outcome is tallied in real-time, and the totalisator then calculates the probability of each outcome based on the current bets. The odds for each possible outcome are constantly updated and displayed to bettors.
Once the race or event is complete, the totalisator system determines the winning bets and calculates the payouts based on the final odds. A commission is often deducted from the prize fund to cover operational costs, such as running the totalisator infrastructure.
Totalisators have revolutionized the betting industry by providing a fair, transparent, and efficient way of handling bets and distributing winnings. They have replaced traditional bookmakers and are now widely used in many countries around the world. The introduction of totalisators has significantly increased the liquidity of betting markets, allowing for larger prizes and more competitive odds.
Common Misspellings for TOTALISATOR
- catalisator
- rotalisator
- fotalisator
- gotalisator
- yotalisator
- 6otalisator
- 5otalisator
- titalisator
- tktalisator
- tltalisator
- tptalisator
- t0talisator
- t9talisator
- toralisator
- tofalisator
Etymology of TOTALISATOR
The word "totalisator" has its origins in the late 19th century and is derived from the combination of two words: "total" and "isator".
- "Total" comes from the Latin word "totus", meaning whole or entire.
- "Isator" is derived from the French word "isateur", which means a creator or inventor.
The term "totalisator" was first used to describe a machine used for calculating and displaying the total amount of bets in a horse race or other gambling event. This invention revolutionized the betting system by automating the calculation of odds and payouts. Over time, the word became synonymous with the machine itself and is still used today in some countries to refer to a betting machine or system.
Similar spelling words for TOTALISATOR
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