Pari-mutuel

2 definitions found

From The Collaborative International Dictionary of English v.0.48 [gcide]:

  parimutuel \par`i*mu"tu*el\ (p[a^]r`[i^]*m[=u]"ch[=oo]*[u^]l),
     n.
     A form of betting where winners share the total amount
     wagered, in proporation to their bets, and less a portion for
     the management; -- used commonly in betting at horse racing
     track. In parimutuel betting, the payoff for a bet does not


     have fixed odds, but depends on the amount bet on each
     outcome.
     [WordNet 1.5 +PJC]

From WordNet (r) 2.0 [wn]:

  parimutuel
       n : betting where winners share the total amount wagered