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There are two components to the settlement between the bet taker and the pool operator (in most cases a track where the race was run). The bet takers pay a host fee to the pool operator, and then they also compensate for the money room shift in whichever direction it flows. The two figures are added together and paid as one lump sum.
Typically that happens monthly, but if amounts aren't that large they can roll over. There are some tracks that just settle at the end of the meet. Surprisingly much is still done by passing checks through the mail, although there are some pool operators that ACH or wire transfer funds.
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