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pari-mutuel

[ par-i-myoo-choo-uhl ]
/ ˌpær ɪˈmyu tʃu əl /
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noun
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.
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.
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Origin of pari-mutuel

1880–85; <French: literally, mutual bet
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2022

How to use pari-mutuel in a sentence

British Dictionary definitions for pari-mutuel

pari-mutuel
/ (ˌpærɪˈmjuːtjʊəl) /

noun plural pari-mutuels or paris-mutuels (ˌpærɪˈmjuːtjʊəlz)
  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 Origin for pari-mutuel

C19: from French, literally: mutual wager
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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