Overview
Parimutuel & Calcutta allows you to create, view, and calculate payout for bets. This article will describe functionality within Live Tourney to change these details after an event has been created.
Getting Started
To access Parimutuel & Calcutta, you must finish the event setup process, then select the event dropdown ellipsis (…) located to the right of your event name in the main dashboard. This page will provide option to create bets, view bets, and calculate payouts.
Create Bet
After designating bettor name and email, designate how much money the individual would like to place on teams to win, place, or show. Create a new bet slip for every unique bet and email players their bet information.
Email Bets
In “Create Bet” you will have the option to email a bet slip similar to the below.
View Bets
A summary view of bet slips can be accessed at any point in time. Bets can be deleted from this view.
Parimutuel Payouts
The final component of parimutuel in Live Tourney is the payout calculator. By selecting who finished 1st, 2nd, and 3rd in the event, payouts will be calculated based on submitted bet slips.
Admin’s also have the ability to specify a house cut which will be removed from the payout balance.
Parimutuel results will be surfaced for players on the dropdown on the live leaderboard once the admin finalizes payout results. You can learn more about where to find this and what it shows in our Navigating Scorecard & Leaderboard documentation.
Calcutta Payouts
Calcutta payouts provides a simple calculator where you can designate the percent or dollar amount payout based on final leaderboard standings. The bottom table will show all calcutta bets and payouts based on your designated customization options such as the following:
- Scorecard tiebreaker or retaining ties
- Rounding down to full dollar or no rounding
- Dollar or percent payout based on results
- Gross or net payout
- Payouts for flights or all teams
- House Cut: Will be configured into final payout
Summary
Parimutuel & Calcutta exists so admins aren’t spending copious amounts of time managing bet slips and calculating payouts.