pari-mutuel

noun

pari-mu·​tu·​el ˌper-i-ˈmyü-chə-wəl 

-chəl,

ˌpa-ri-;

-ˈmyüch-wəl

1

: a betting pool in which those who bet on competitors finishing in the first three places share the total amount bet minus a percentage for the management

2

: a machine for registering the bets and computing the payoffs in pari-mutuel betting

Examples of pari-mutuel in a Sentence

Recent Examples on the Web

The amount of money wagered on pari-mutuel racing — where bettors gamble against other bettors and the odds constantly change ahead of the race — has declined by about 55% since 2000, when adjusted for inflation, according to the Paulick Report, a website about the horse-racing industry. —Contessa Brewer, CNBC, 31 Dec. 2024

Casino revenue decreased by $345,000, while pari-mutuel revenue decreased by $78,000. —Quartz Bot, Quartz, 8 Nov. 2024

In California, prize payout amounts are pari-mutuel, meaning it's determined by the sales and the number of winners. —Haadiza Ogwude, The Enquirer, 24 Oct. 2024

The challengers bringing the case before the court are known as West Flagler Associates, a group of pari-mutuels seeking to take away the Seminole Tribe’s monopoly on online sports betting in Florida. —Shira Moolten, Sun Sentinel, 15 June 2024

While tickets with five numbers, but missing the Mega number, sold in other states are worth $1 million or a multiple of $1 million, California law requires major payoffs of lottery games to be paid on a pari-mutuel basis, meaning they are determined by sales and the number of winners. —City News Service, San Diego Union-Tribune, 8 May 2024

The 30-year compact allows anyone over the age of 21 anywhere in Florida to use a sports betting app on their phone to place a bet with the tribe, or through Florida pari-mutuels that contract with the tribe for that purpose. —Lawrence Mower, Miami Herald, 22 Mar. 2024

The pari-mutuel firms’ latest petition before the U.S. Supreme Court was filed Feb. 8, after an appellate panel reversed a federal district court decision in their favor. —Mike Schneider, Fortune, 11 Mar. 2024

People can bet on pro, college, electronic and amateur sports, and pari-mutuel betting on horse racing. —Julia Coin, Charlotte Observer, 7 Mar. 2024

Word History

Etymology

French pari mutuel, literally, mutual stake

First Known Use

1881, in the meaning defined at sense 1