Meaning of pari-mutuel | Babel Free

Definitions

1. Any betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets.
2. A booth used to place such bets, or a machine used to record bets and calculate payoffs.

Equivalents

Examples

“There is also a pari-mutuel option. You and a friend can wager that you will each lose⟳ 15 pounds over the next two months. If you both succeed⟳, the money is returned. But if one fails while the other succeeds, then the loser pays the winner. If you both fail⟳, then the one who loses the most is the winner.”

“The Italian were full of manners and McAdams talked to Catherine while we went down to bet⟳ again. Mr Meyers was standing near the pari-mutuel.”

CEFR level