- 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
Examples from the Web for pari-mutuel
- 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
- (as modifier)the pari-mutuel machine
C19: from French, literally: mutual wager
Word Origin and History for pari-mutuel
Online Etymology Dictionary, © 2010 Douglas Harper