pari-mutuel
/ˌpɑːrɪˈmjuːtʃʊəl
/ /ˌpɑːrɪˈmjuːtʃʊɛl/noun [often as modifier]
A form of betting in which those backing the first three places divide the losers' stakes (less the operator’s commission): pari-mutuel betting...
- We've moved from a pari-mutuel form of betting on sport, to a fixed-odds betting form.
- The lottery prize pool would be divided appropriately, pari-mutuel style, among the winning lottery players.
- Although Universal Prince remains in the two-mile race, several bookmakers and Victoria's pari-mutuel suspended betting on last season's champion three-year-old colt.
Origin
French, literally 'mutual stake'.