pari-mutuel definition

  • noun:
    • something of gambling on races wherein the champions separate the quantity bet, after deducting administration expenditures, equal in porportion into sums they will have wagered separately.
    • a device that registers these types of wagers and computes the payoffs.

Related Sources

  • Definition for "pari-mutuel"
    • something of gambling on races wherein the champions…
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    • Actually, considerable amounts of statistical evidence…
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