- 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.
- A machine that records such bets and computes the payoffs.
Origin of pari-mutuelFrench pari wager ( from parier to wager ) ( from Latin pariāre to settle a debt ) ( from pār par- equal ; see perə-2 in Indo-European roots.) mutuel mutual ( from Old French; see mutual . )
- (horse racing) 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. [from 19th c.]
- A booth used to place such bets, or a machine used to record bets and calculate payoffs. [from 19th c.]
From French pari mutuel (“mutual bet").