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pari-mutuel

One entry found.

Main Entry: pari–mu·tu·el
Pronunciation: \ˌper-i-ˈmyü-chə-wəl, -chəl, ˌpa-ri-; -ˈmyüch-wəl\
Function: noun
Etymology: French pari mutuel, literally, mutual stake
Date: 1881

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


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