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Definition of pari mutuel - 1 dictionary result
par⋅i-mu⋅tu⋅el
[par-i-myoo-choo-uh
l] 
–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. |
Origin:
1880–85; < F: lit., mutual bet
1880–85; < F: lit., mutual bet
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2009.
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Based on the Random House Dictionary, © Random House, Inc. 2009.
Cite This Source
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