The company was founded by Harry L. Straus, a computer engineer from Baltimore, who became interested in developing a fairer system of calculating and displaying odds and payouts on parimutuel betting after an incident at a Maryland racetrack in 1927.
When a horse listed at 12:1 odds won, but paid off at 4:1, Straus recognized the need for a more accurate and transparent system.
He began developing his innovative machine, the totalisator, also known as the "tote board" using telephone relays[1] in 1928.
AmTote's numeric displays were often seen on television game shows in the 1950s and 1960s, most notably the original version of The Price is Right.
Today, AmTote International is a wholly-owned subsidiary of The Stronach Group, the corporate parent of several race tracks, including Pimlico.