parimutuel definition

  • noun:
    • Any betting system where all bets of a specific type are placed together in a pool; taxes and a home take are eliminated, and payoff it’s likely that computed by revealing the pool among all put bets.
    • A machine familiar with record bets and determine payoffs.
    • a kind of gambling where champions share just how much wagered, in proporation for their bets, much less a portion when it comes to management; -- made use of frequently in gambling at horse racing track. In parimutuel wagering, the payoff for a bet won't have fixed chances, but is based on extent bet on each result.
    • gambling where champions share just how much wagered
  • others:
    • A mutual wager; in France, something of betting in which each bettor puts a sum specified (in the horse or contestant he decides) in a pool. Those that bet on the winners separate the stakes, less half the normal commission for costs. Generally in the plural, paris mutuels.

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