parimutuel

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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.

[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).]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.parimutuel - betting where winners share the total amount wagered
wager, bet - the act of gambling; "he did it on a bet"
References in periodicals archive ?
Despite the modest growth, parimutuels are struggling, in part because of competition from lotteries and casinos.
The gambling industry still includes three major sectors: Parimutuel wagering on horseraces and other competitions, casino gaming, and State lotteries.
If lotteries and parimutuels are substitutes, then a state with parimutuel betting that adopts a lottery should expect a decline in parimutuel tax revenues, which will make net spendable revenues from the lottery smaller than reported lottery profits.
Jargon-buster Parimutuel A form of wagering originated in 1865 by Frenchman Pierre Oller in which all money bet is divided up among those who have winning tickets, after taxes, takeout and other deductions are made.