pari-mutuel

American  

[par-i-myoo-choo-uhl] / ˌpær ɪˈmyu tʃu əl /

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.

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pari-mutuel British  

/ 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

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Etymology

Origin of pari-mutuel

1880–85; < French: literally, mutual bet

Example Sentences

Santa Anita believes the machines, which offer first, second and third betting on three past races, does not violate the rules for pari-mutuel gambling.

From Los Angeles Times

She was 20 years old when she made her debut on Feb. 7, 1969, at Hialeah Park and became the first woman in the U.S. to ride in a professional race at pari-mutuel track.

From The Wall Street Journal

Is it pari-mutuel wagering, where the payoff is determined by the amount of money bet, and considered a game of skill?

From Los Angeles Times

If it is a pari-mutuel game of skill, then it is governed by the state regulatory agency, the California Horse Racing Board.

From Los Angeles Times

They are known to freely litigate any challenge to their sovereignty over most non pari-mutuel gambling in the state.

From Los Angeles Times