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:
Origin: French
Origin: : pari, wager (from parier, to wager, from Latin pariāre, to settle a debt, from pār, par-, equal; see perə-2 in Indo-European roots)
Origin: + mutuel, mutual (from Old French; see mutual)