Definition

1. Noun:
   • A system of betting on races where the winners divide the total amount wagered, minus a management fee: A parimutuel is a form of gambling, most commonly associated with horse or dog racing, in which all bets of a particular type are placed together in a pool. The odds are not fixed in advance but are determined by the final betting pool. After the organizers deduct a percentage (the "take"), the remaining pool is shared among those who placed winning bets.

Usage Examples

• Noun:
  • The racetrack uses a parimutuel system for all its wagers.
  • In a parimutuel, your final payout depends on how many other people bet on the same winning outcome.

Advanced Usage

• "Parimutuel betting": The full term for the activity or system.

  • Parimutuel betting is the standard for horse racing in many countries.

• "Parimutuel pool": The collective sum of all money wagered on a particular event or type of bet.

  • The win pool was the largest parimutuel pool of the day.

Variants and Related Words

• Totalizator (or Tote) (n): A machine or system that automatically records bets and calculates odds and payouts in a parimutuel system.
  • The odds are displayed on the totalizator board.

Synonyms

• Pool betting: A synonym emphasizing the collective pool of money.
• Pari-mutuel betting: An alternative spelling of the full term.

Notes on Meaning

• The term "parimutuel" is almost exclusively used in the context of organized racing and gambling. It is not used in general conversation.
• It functions as both a noun for the system itself () and, through common shortening, for the place where such bets are made ().

Noun

1. betting where winners share the total amount wagered