A form of betting in which those backing the first three places divide the losers' stakes (less the operator's commission)
‘pari-mutuel betting’
‘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.’
‘In August, a circuit judge ruled that Broward County pari-mutuel operators could move forward with the installation of slot machines because the Florida Legislature had failed to draft rules on expanded gaming.’
‘All four pari-mutuel operators filed suit on May 24 seeking the court's approval to proceed with the installation of slot machines after the Florida Legislature adjourned without establishing regulations.’
‘Chairman Frank Stronach has targeted NYRA as a takeover candidate for his company, which is North America's largest operator of pari-mutuel racetracks.’
‘Foreigners had been required to pay 30% withholding tax on winnings for pari-mutuel wagers into U.S. pools, effectively precluding common pooling.’
‘The state's official pari-mutuel provider handles wagering on Thoroughbreds, Standardbreds, and greyhounds.’
‘Five years from now, every jurisdiction that has pari-mutuel wagering will have some kind of account wagering as part of its program.’
‘It only accepts live telephone pari-mutuel wagers from high-volume customers to whom the company offers rebates.’
‘It's been that way for more than a century and will probably continue as long as pari-mutuel wagering on anything continues.’
‘The Massachusetts Senate has approved a measure that would allow Suffolk Downs in East Boston and three other pari-mutuel operations to each install 2,000 video lottery terminals at their facilities.’
‘So, in 1996, the Legislature passed a law that beginning January 1, 1997, licensed pari-mutuel facilities could open commercial cardrooms.’
‘Right before this pari-mutuel scratch, both Adverse and Prince Monty were co-favorites at 2-1.’
‘West Virginia's four pari-mutuel operations currently employ 4,700 workers, but Arneault said that number could dip to 3,500 without a further expansion of gaming in the state.’
‘Scientific Games is the parent company of AutoTote, which supplies pari-mutuel operations with the hardware, software, networks, and service needed to process wagers.’
‘The races are selected from those with many runners and a competitive betting market, thereby attracting larger pari-mutuel pools than other races.’
‘Most network outlets handle more money than is paid out to winners, following the traditional and profitable pattern of pari-mutuel operations.’
‘Butcher will oversee the track's entire pari-mutuel operation and its more than 300 full- and part-time employees.’
‘Scientific Games moved its pari-mutuel operations from Newark, Delaware, to Alpharetta, Georgia, this year.’
Origin
French, literally ‘mutual stake’.
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