Origin of Pari-Mutuels, Daily Racing Form, 1922-12-27


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ORIGIN OF PARI-MUTUELS The French pari-mutuel system was invented on the Parisian race courses, or rather in the paddocks, when those who had come down to the races drew the names of the horses running and the winner scooped the pool. There was no deduction made, and the full amount was paid over without commission. Thus encouragement " was given M. Oiler to exploit the national taste for lotteries by the invention of that huge caravan and offices on the boulebards in Paris, where the winners gains were only taxed at 5 per cent, while now the initial stakes lose 8 per cent on their value before the dividend is declared. The system has been officially sanctioned by special vote of the French chamber of deputies and legalized by a presidential decree.

Persistent Link: https://drf.uky.edu/catalog/1920s/drf1922122701/drf1922122701_1_3
Local Identifier: drf1922122701_1_3
Library of Congress Record: https://lccn.loc.gov/unk82075800