pari-mutuel

[par-i-myoo-choo-uhl]

noun

1. a form of betting and of handling the betting on horse races at racetracks, in which those holding winning tickets divide the total amount bet in proportion to their wagers, less a percentage for the management, taxes, etc.

2. Also called parimutuel machine. an electronic machine that registers bets in parimutuel betting as they are made and calculates and posts the changing odds and final payoffs.

pari-mutuel

/ ˌpærɪˈmjuːtjʊəl /

noun

1. 1. a system of betting in which those who have bet on the winners of a race share in the total amount wagered less a percentage for the management

   2. ( as modifier )

      the pari-mutuel machine

Word History and Origins

Origin of pari-mutuel¹

1880–85; < French: literally, mutual bet

Word History and Origins

Origin of pari-mutuel¹

C19: from French, literally: mutual wager