pari-mutuel

par·i-mu·tu·el

also par·i·mu·tu·el  (păr′ĭ-myo͞o′cho͞o-əl)

n.

1. A system of betting on races whereby the winners divide the total amount bet, after deducting management expenses, in proportion to the sums they have wagered individually.

2. A machine that records such bets and computes the payoffs.

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[French : pari, wager (from parier, to wager, from Latin pariāre, to settle a debt, from pār, par-, equal; see perə- in Indo-European roots) + mutuel, mutual (from Old French; see mutual).]

pari-mutuel

(ˌpærɪˈmjuːtjʊəl)

n, pl pari-mutuels or paris-mutuels (ˌpærɪˈmjuːtjʊəlz)

(Gambling, except Cards)

a. a system of betting in which those who have bet on the winners of a race share in the total amount wagered less a percentage for the management

b. (as modifier): the pari-mutuel machine.

[C19: from French, literally: mutual wager]

par•i-mu•tu•el

or par•i•mu•tu•el

(ˌpær ɪˈmyu tʃu əl)

n.

1. a form of betting on horse races, in which those holding winning tickets divide the total amount bet in proportion to their wagers.

2. Also called pari-mu′tuel machine′. an electronic machine that registers bets in pari-mutuel betting as they are made and calculates and posts the changing odds and final payoffs.

[1880–85; < French: literally, mutual bet]

pari-mutuel

a system of betting used at horseracing tracks under which holders of winning tickets divide the total amount wagered in proportion to their wagers.

See also: Gambling

pari-mutuel

A French term meaning mutual bet, used to mean a system of betting in which the total stake is divided among the winners.