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 and Etymology of pari-mutuel

French pari mutuel, literally, mutual stake


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