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Fine Dictionary

parimutuel

ˌpɛrɪmˈjuʧuəl
WordNet
  1. (n) parimutuel
    betting where winners share the total amount wagered
Century Dictionary and Cyclopedia
  1. parimutuel
    A mutual bet; in France, a system of betting in which each bettor places a sum specified (on the horse or contestant he chooses) in a pool. Those who bet on the winners divide the stakes, less a small percentage for expenses. Usually in the plural, paris mutuels.
Usage in the news

Surveillance of Parimutuel Wagering Integrity Using Expert Systems and Machine Learning. aaai.org

Parimutuel wagering is a significant source of revenue for many state governments. aaai.org

Usage in literature

If you're opposed to gambling, Pat, what better way can you think of to put the parimutuels out of business? "Lighter Than You Think" by Nelson Bond