History
The parimutuel system was invented by Catalan impresario Joseph Oller in 1867.
The large amount of calculation involved in this system led to the invention of a specialized mechanical calculating machine known as a totalisator, "automatic totalisator" or "tote board", invented by the Australian engineer, George Alfred Julius. The first was installed at Ellerslie Racecourse, Auckland, New Zealand in 1913, and they came into widespread use at race courses throughout the world. The U.S. introduction was in 1927, which led to the opening of the suburban Arlington Racetrack in Arlington Park, near Chicago and Sportsman's Park in Cicero, Illinois, in 1932.
Read more about this topic: Parimutuel Betting
Famous quotes containing the word history:
“There is one great fact, characteristic of this our nineteenth century, a fact which no party dares deny. On the one hand, there have started into life industrial and scientific forces which no epoch of former human history had ever suspected. On the other hand, there exist symptoms of decay, far surpassing the horrors recorded of the latter times of the Roman empire. In our days everything seems pregnant with its contrary.”
—Karl Marx (1818–1883)
“The principle that human nature, in its psychological aspects, is nothing more than a product of history and given social relations removes all barriers to coercion and manipulation by the powerful.”
—Noam Chomsky (b. 1928)
“A country grows in history not only because of the heroism of its troops on the field of battle, it grows also when it turns to justice and to right for the conservation of its interests.”
—Aristide Briand (1862–1932)