1. A betting system in which all money wagered on a particular outcome is pooled, and winnings are divided among those who bet on the winning outcome, after the house takes a percentage.
Usage: Usually used in the context of horse racing and other sports betting.; Often shortened to 'pari-mutuel' or 'parimutuel' in singular form.
2. A machine or facility that records and processes bets in a pari-mutuel betting system.
Usage: Refers to the equipment or venue where pari-mutuel wagering takes place.

Examples

• The racetrack uses parimutuels to manage all the bets placed on each race.
• Bettors at the horse track studied the odds displayed on the parimutuels before placing their wagers.
• Parimutuels distribute winnings based on the total amount wagered and the number of winners.
• The new parimutuels at the casino allow players to bet on multiple sporting events.
• She won $500 from the parimutuels after correctly predicting the race outcome.
• Parimutuels have been a standard feature of horse racing for over a century.