pari-mutuel
[ par-i-myoo-choo-uh l ]
/ ˌpær ɪˈmyu tʃu əl /
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
Words nearby pari-mutuel
parging,
parhelic circle,
parhelion,
pari passu,
pari-,
pari-mutuel,
paria,
pariah,
pariah dog,
parian,
parian ware
Example sentences from the Web for 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. SawyerSo 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
/ (ˌpærɪˈmjuːtjʊəl) /
noun plural pari-mutuels or paris-mutuels (ˌpærɪˈmjuːtjʊəlz)
- 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
Word Origin for pari-mutuel
C19: from French, literally: mutual wager