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pari–mutuel

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

Definition of pari–mutuel

  1. 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. 2 :  a machine for registering the bets and computing the payoffs in pari-mutuel betting

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Origin and Etymology of pari–mutuel

French pari mutuel, literally, mutual stake

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