Parimutuel Betting
How the Process Works
The mechanics of a golf para-mutuel pool generally follow these four steps:
- The Pool Collection: Every bettor puts their money into a single “pot” (the Pool). You might buy “tickets” on a specific player or a team.
- The Pool: This is the amount of money placed on a particular bet (win, place or show).
- The Payout Calculation: Once the tournament ends, the Pool is divided by the total number of winning tickets.
- The Payout: Winners receive a share of the pool proportionate to how much they wagered.
Key Differences from Standard Betting
Unlike the “fixed odds” you see on a sports betting app (e.g., Scottie Scheffler at +400), para-mutuel odds are fluid:
- Odds are not “locked in”: If you bet on a player on Friday, you don’t actually know your final payout until the tournament starts (or ends) and all bets are counted.
- The Crowd Sets the Price: If everyone in your group bets on the favorite, the payout for that favorite will drop significantly because the pool has to be split among many winners.
- The Longshot Advantage: If you bet on an underdog that almost no one else backs, you can win a massive percentage of the entire pool because there are fewer “winning tickets” to share the pot.
Examples of Golf Formats
In a golf setting, these pools are often broken into “Win, Place, and Show” categories, just like at the track:
| Bet Type | How You Win | Payout Logic |
| Win | Your player/team finishes 1st. | The “Win” pool is shared only by those who picked the winner. |
| Place | Your player finishes 1st or 2nd. | The “Place” pool is split 50/50 between the 1st and 2nd place finishers’ bettors. |
| Show | Your player finishes 1st, 2nd, or 3rd. | The “Show” pool is split into thirds for the bettors of the top three finishers. |
Payout Results
Unlike the MGA results for points and Pro Shop Credit the Parimutuel will pay the actual winner, 2nd, and 3rd place (based on how they actually finished). It is possible for a single team/individual to win both gross and net.
Bets may be placed to win, place, or show in either gross or net. This may not be reflected in the MGA Results. The finish results for the Parimutuel does not indicate the final results for the MGA tournaments
All ties will be broken using the same system in place to decide the MGA Results
In the event a team wins, places, or shows and no money was bet on that team, the money remains with “the house” (the MGA).
