1. relating to or being a betting system in which all bets are pooled and winnings are calculated by sharing the total amount bet among winners
Usage: gambling; horse racing

1. a betting system in which all bets are pooled and winnings are distributed proportionally among winners after deducting expenses
Usage: gambling; horse racing

Examples

• The racetrack uses a parimutuel betting system for all horse races.
• Parimutuel wagering ensures that the house takes only a fixed percentage.
• She placed her bet through the parimutuel window at the track.
• The parimutuel pool for the Kentucky Derby reached millions of dollars.
• Unlike casino games, parimutuel betting pits bettors against each other.
• The state regulates all parimutuel operations at licensed facilities.