What does "dividend" mean in the context of betting?

Question

For example:

Tote - The organisation appointed to receive bets and supply dividends in proportion to the amount of the investment. A body in the UK set up to operate pool-betting on all racecourses.

user527 · Answer

The dividend is:

The amount that a winning or placed horse returns for every $1 bet by the bettor(1) (2) (3):

So, in your example, a Tote would distribute returns to applicable bettors.

What does "dividend" mean in the context of betting?

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