Definition of "parimutuel" []

• 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. (noun)
• A machine used to record bets and calculate payoffs. (noun)

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• "The public-private partnership would pool resources to tackle complicated betting security problems such as parimutuel "pool" manipulation, money laundering and network security."
• "They also allow for risk, known as "parimutuel" betting."
• "That number doesn't include revenue from parimutuel betting on the races."