The horse betting is a form of short-term betting in which money is placed on the outcome of a match. In addition to the initial amount of money placed, two additional coins are allowed by the horse betting operator. These coins are called ‘stake’.
A horse betting operator is not required to tell the operator when they have placed a bet on a certain horse. They can simply place the first and second stakes into one of the slots or into separate ‘bets’ (the horse betting system) which are then linked to one another (in that the first card that is placed in an ‘agreement’ slot by the trader is also placed in a betting game in the main betting system).
How does the horse betting system work?
A horse betting operator creates an agreement with an operator of a betting shop. On the next business day the horse betting operator is entitled to place the first coin to be matched in a betting game in that horse betting shop, either in a regular betting game for a specified amount, or in an ‘agreement slot’ by their shop. After this coin has been matched, the horse betting operator is entitled to take a further coin from the agreement slot and place it into a betting game. The horse betting operator must tell the cashier when he or she has placed a bet – this is because the operator can then withdraw the coins from their coin ‘bets’ to make available to their own horses.
What is an agreement slot?
The horse betting system uses agreement slots in which the first and second cashier shares a coin in a gambling game – the dealer is not allowed to take any more coins from a slot until the horse betting operator has used up all their coin ‘bets’ to pay out. If the horses are separated in this manner, the horse betting operator may have a larger amount of money available than they would have if their coin ‘bets’ were placed on separate horses.
How many coins do I need to bet?
The amount of money you must bet with depends on the size of the betting area in which you wish to bet. If a horse betting operator’s betting shop has 10 stalls of which 5 are horse betting stalls (either 1 or 2), then each horse betting stall is valued at £1. Each horse betting stall contains approximately 4 horse coins.
If the horse betting area is a larger number of stalls, then the amount of money to be bet with will not be limited to the number of horse
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