Definition of parimutuel
par`i`mu´tu`el
Pronunciation:
păr`ĭ`mū´chŌ`ŭl
n.
1.
A
form
of
betting
where
winners
share
the
total
amount
wagered
,
in
proporation
to
their
bets
,
and
less
a
portion
for
the
management
; -
used
commonly
in
betting
at
horse
racing
track
.
In
parimutuel
betting
,
the
payoff
for
a
bet
does
not
have
fixed
odds
,
but
depends
on
the
amount
bet
on
each
outcome
.
Related Words
bet
,
wager
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