pari-mutuel
Meanings
noun
- Any betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets.
- A booth used to place such bets, or a machine used to record bets and calculate payoffs.
Pronunciation
Word forms
Etymology
From French pari mutuel (“mutual bet”).
Related words
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