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Pari-Mutuel

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pari-mutuel

Betting pool in which those who bet on competitors finishing in the first three places share the total amount bet minus a percentage for the management. First introduced in France c. 1870, it soon became one of the most popular methods of betting on horse races internationally. Today computers calculate betting pools and current odds on each horse and flash the figures to the public at regular intervals. The system is used largely for off-track betting. Pari-mutuel betting is also practiced in dog racing and jai alai.

Pari-Mutuel 

(also totalizator or totalizer), in horse racing, a calculator that indicates the total bets made on a given horse and the grand total of bets. The term “pari-mutuel” may also refer to the office that receives bets and pays winnings on horses, and to the game of betting itself.
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Fixed-odds gambling Pari-mutuel betting and fixed odds gambling regularly occur at different kinds of political elections and sporting events.
Gambling and Its Types by Jeff Grant / Travel, recreation and leisure community
Flagler and other pari-mutuel gambling facilities -- places where bettors wager against each other, usually on races or games -- in Miami-Dade County are permitted to install up to 2,000 slot machines each.
Economy puts long odds on casino construction by Seemuth, Mike / The Real Deal
In other words, allowing what amounts to pari-mutuel or group wagering.
The Poker Tournament Craze by Kenneth Bateman / Arts and entertainment industries community
 
 
 
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