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1 definition found
 for pari-mutuel
From The Collaborative International Dictionary of English v.0.48 :

  parimutuel \par`i*mu"tu*el\ (p[a^]r`[i^]*m[=u]"ch[=oo]*[u^]l),
     n.
     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.
     [WordNet 1.5 +PJC]

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