What was the name of the horse betting system Barkley denounced?
Parimutuel betting
Exacta betting
Sports betting
Fixed-odds betting
Answer
The Parimutuel betting system, as Barkley criticized, involves a centralized pool of wagers from all bettors on a given race, with payouts determined by the proportion of bets placed on each horse. Unlike fixed-odds betting, where payouts are set in advance, the odds in a parimutuel system can fluctuate based on the amount and distribution of bets.
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