pari-mutuel ( def 1 ).

probably by false construal of pari as a prefix or adj. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
mutuel (ˈmjuːtjʊəl)
short for pari-mutuel

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Meet the pari-mutuel fund managers who are redefining horse racing.
And betting that much, thanks to the pari-mutuel system, would reduce the odds.
The pari-mutuel betting system places all bets of a particular type together in a pool.
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