Definitions

1. adjective

relating to or denoting a betting system in which all bets of a particular type are pooled together and the odds are determined by dividing the total amount of money bet by the number of winning bets

“The parimutuel system allows for a more fair distribution of winnings among bettors.”

2. noun

a betting system in which all bets of a particular type are pooled together and the odds are determined by dividing the total amount of money bet by the number of winning bets

“The parimutuel system is widely used in horse racing.”

3. noun

a betting pool in which the odds are determined by dividing the total amount of money bet by the number of winning bets

“The parimutuel pool for the horse racing event was very large.”