Dictionary

pari-mutuel

pari–mutuel

noun pari–mu·tu·el \ˌper-i-ˈmyü-chə-wəl, -chəl, ˌpa-ri-; -ˈmyüch-wəl\

Definition of PARI-MUTUEL

1
:  a betting pool in which those who bet on competitors finishing in the first three places share the total amount bet minus a percentage for the management
2
:  a machine for registering the bets and computing the payoffs in pari-mutuel betting

Origin of PARI-MUTUEL

French pari mutuel, literally, mutual stake
First Known Use: 1881

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