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Pari-mutuel payouts for horse racing bets are calculated by dividing the total amount of money wagered on a race by the total amount bet on the winning horse. The resulting quotient is the payout per dollar bet on the winning horse. This method ensures that the payouts are distributed based on the total amount of money wagered, rather than set odds.

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1mo ago

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Q: How do you calculate pari-mutuel payouts for horse racing bets?
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