pari-mutuel

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pari-mutuel, parimutuel

betting on the totalizator. Literally means betting between ourselves. All of the money wagered is divided up equally between those who have backed the winning and placed horses.
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At the beginning of each shift, incoming operators are assigned a particular jurisdiction, such as the casino, the sports book, the poker room, and other areas of the facility, such as the racetrack and parimutuel betting area, the parking lots, and the entrance and egress doors.
A note on the Hayek hypothesis and the favorite-longshot bias in parimutuel betting.
Bookmakers were banned at the tracks in New York and replaced by parimutuel betting in 1940, the catalyst that started the process of turning racing into one of the most popular leisure-time activities in the country.
BHA media manager Paul Struthers said sales races had to be included in the prize-money tally and racing in France had the advantage of being funded by parimutuel betting.
THE coupling of horses in the French parimutuel betting system could be consigned to history after France-Galop revealed their intent to scrap the rule in a bid to boost turnover, writes Desmond Stoneham.