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 ?
The $11 billion East Coast gaming market is in a period of continual expansion, from the recently launched slot machines in Maine, to the planned commencement of slots at Florida parimutuels, to the pending introduction of slots in Pennsylvania.
Despite the modest growth, parimutuels are struggling, in part because of competition from lotteries and casinos.
June 21 /PRNewswire-FirstCall/ -- Broward County, Florida Circuit Judge Leroy Moe ruled today that the county's four parimutuels can install slot machines as of July 1.