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Forget side pools altogether and go with Parimutuels

Posted By: Bill Riles
Date: Sunday, 30 April 2017, at 5:40 p.m.

In Response To: Forget side pools altogether and go with Parimutuels (Phil Simborg)

Phil, your points are well made and well taken. Obviously, I'm not a lawyer; however, in my understanding I think the big problem, certainly in the USA, is that pari-mutuals are blatantly illegal in most jurisdictions. Tournament entry fees and side pools, even with rakes in each, are arguably not gambling by many interpretations. Calcuttas and pari-mutuals are unquestionably gambling by almost any interpretation. So, there are inherent risks that must be accepted by the responsible parties -- including the tournaments and tournament directors, even if the pari-mutuals are handled by a third party. Personally, I think such activities are not worth the risks and, unfortunately, may even bring additional scrutiny onto the traditional structure of the tournaments that thus far have not been bothered.

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