- a system of betting on races in which those backing the winners divide, in proportion to their wagers, the total amount bet, minus a percentage for the track operators, taxes, etc.
- a machine for recording such bets and computing payoffs; totalizator
Origin of parimutuelFrench pari mutuel ; from pari, a bet (; from parier, to bet, origin, originally , to equalize ; from Late Latin pariare, to make equal ; from Classical Latin par: see par) + mutuel, mutual
parimutuel - Legal Definition
Of equal betting or wagering.