nounWord forms: pluralpari-mutuels or paris-mutuels (ˌpærɪˈmjuːtjʊəlz)
a.
a system of betting in which those who have bet on the winners of a race share in the total amount wagered less a percentage for the management
b.
(as modifier)
the pari-mutuel machine
Word origin
C19: from French, literally: mutual wager
pari-mutuel in American English
(ˌpærɪˈmjuːtʃuːəl)
noun
1.
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
2. Also called: parimutuel machine
an electronic machine that registers bets in parimutuel betting as they are made and calculates and posts the changing odds and final payoffs
Word origin
[1880–85; ‹ F: lit., mutual bet]This word is first recorded in the period 1880–85. Other words that entered Englishat around the same time include: Chief of Staff, automatism, highball, quotation mark, rain check