Definition of pari-mutuel in English:

pari-mutuel

Syllabification: par·i-mu·tu·el
Pronunciation: /ˌparə ˈmyo͞oCHo͞oəl
 
/
(also parimutuel)

noun

[often as modifier]
A form of betting in which those backing the first three places divide the losers' stakes (less the operator’s commission): pari-mutuel betting
More example sentences
  • We've moved from a pari-mutuel form of betting on sport, to a fixed-odds betting form.
  • The lottery prize pool would be divided appropriately, pari-mutuel style, among the winning lottery players.
  • Although Universal Prince remains in the two-mile race, several bookmakers and Victoria's pari-mutuel suspended betting on last season's champion three-year-old colt.

Origin

French, literally 'mutual stake'.

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