parimutuel

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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.
References in periodicals archive ?
Parimutuel tellers make up one of the largest--and most seasonal--occupations in racing.
where the independent variables are defined in Table 1 and represent, respectively, measures of tax effort, mean per capita personal income, a dummy variable accounting for the absence of a state sales tax, an index of tourism for the state,(6) per capita spendable revenue generated from parimutuel betting in the state, percentage of the state's border contiguous with a state or states with lotteries, and an error term with the usual properties.
The authors found that a given state will tend to adopt a lottery and will tend to adopt the lottery sooner, the higher the relative tax effort of the state, the higher the mean personal income of the state's residents (o the lower the fraction of the state's residents that are in poverty), the greater the restrictions or raising other taxes in the state, the greater the state's spendable revenue generated from parimutuel.
A state's expected net spendable revenue from adopting and operating a lottery is greater the higher the mean personal income of residents in the state, the greater the annual number of tourist, or visitors in the state, the smaller the fraction of the state's border that is contiguous with other states with lotteries, and the smaller the parimutuel industry in the state.