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
First Known Use: 1881See Words from the same year
Seen and Heard
What made you want to look up pari–mutuel? Please tell us where you read or heard it (including the quote, if possible).