Betting calculations

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Possible Answers:

Odds.

Last seen on: Daily Celebrity Crossword – 8/30/20 People Sunday

Random information on the term ” Odds”:

A tote board (or totalisator/totalizator) is a large numeric or alphanumeric display used to convey information, typically at a race track (to display the odds or payoffs for each horse) or at a telethon (to display the total amount donated to the charitable organization sponsoring the event).

The term “tote board” comes from the colloquialism for “totalizator” (or “totalisator”), the name for the automated system which runs parimutuel betting, calculating payoff odds, displaying them, and producing tickets based on incoming bets. Parimutuel systems had used totalisator boards since the 1860s and they were often housed in substantial buildings. However the manual systems often resulted in substantial delays in calculations of clients’ payouts.

The first all-mechanical totalisator was invented by George Julius. Julius was a consulting engineer, based in Sydney. His father, Churchill Julius, an Anglican Bishop, had campaigned, in the early years of the twentieth century, against the iniquities of gambling using totalisators and its damage to New Zealand society. That attitude had changed by late 1907 when he argued that the totalisator removed much of the evil of gambling with bookmakers. Bishop Churchill was himself an amateur mechanic with a reputation for fixing clocks and organs in parishes he visited.

Odds on Wikipedia