Importance of pari-mutuel wagering on us greyhound race tracks.

Question

I am placing my first greyhound bet on American greyhound race tracks. I was adviced to place pari-mutuel bet on us greyhound race tracks. What's the logic behind it, please specify.

Answer 1

The Pari-Mutuel Concept

The great thing about pari-mutuel wagering is that the majority of the money wagered goes right back into the hands of the bettors. The track, the state and the greyhound owners simply receive a straight percentage of each wager. The rest of the money is placed in a pool, and paid out proportionally to each winner. The number of people who bet on the same dogs determines the odds and therefore, the payoff.