Meaning of pari-mutuel
Pronunciation: (par"i-my'ch-ul), [key]
- a form of betting and of handling the betting on horse races at racetracks, in which those holding winning tickets divide the total amount bet in proportion to their wagers, less a percentage for the management, taxes, etc.
- Also calledan electronic machine that registers bets in parimutuel betting as they are made and calculates and posts the changing odds and final payoffs.
- pari-mutuel (Thesaurus)