pari-mutuel

[par-i-myoo-choo-uh l]

See more synonyms for pari-mutuel on Thesaurus.com

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.

Origin of pari-mutuel

1880–85; < French: literally, mutual bet

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

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Examples from the Web for pari-mutuel

Historical Examples of pari-mutuel

Betting was conducted by the totalisator, or pari-mutuel, the bet being five dollars, repeated as often as you liked.
The Inhabitants of the Philippines
Frederic H. Sawyer
So are the professional gamblers, the betting being on the pari-mutuel system.
The Personality of American Cities
Edward Hungerford

British Dictionary definitions for pari-mutuel

pari-mutuel

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

Word Origin and History for pari-mutuel

1881, from French pari-mutuel "mutual wager," from pari "wager" (from parier "to bet," from Latin pariare "to settle a debt," literally "to make equal," from par, genitive paris, "equal;" see par) + mutuel "mutual," from Latin mutuus (see mutual).