TOTALISATOR

A totalisator or totalizator (tote board in common parlance) is the name for the computerised system which runs parimutuel betting, calculating payoff odds, displaying them, and producing tickets based on incoming bets. The first totalisator was an entirely mechanical system invented by the Australian George Julius of Julius Poole & Gibson Pty Ltd. It was installed at Ellerslie Racecourse in New Zealand in 1913 . The first totalisator installed in the United States was at Arlington Park racecourse, Chicago, in 1933 . Julius, who was later knighted, founded Automatic Totalisators Ltd. in 1917 and added electrical components. The first entirely electronic totalisator was developed in 1966 . By 1970 nearly every major racing centre used an ATL totalisator.
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Noun
1. computer that registers bets and divides the total amount bet among those who won
(synonym) pari-mutuel machine, totalizer, totaliser, totalizator
(hypernym) computer, computing machine, computing device, data processor, electronic computer, information processing system

n. totalizator, instrument for adding up results of measurements or activities; totalizer, one who finds total amount of

n. totalizator, tote

sweepstake