parimutuel

Noun

Meaning

betting where winners share the total amount wagered

Synonyms

Hypernyms

Examples

Parimutuel wagers pay off at prices determined by support in the wagering pools, while bookmakers pay off either at the odds offered at the time of accepting the bet; or at the median odds offered by track bookmakers at the time the race started. Source: Internet

History The parimutuel system was invented by Catalan impresario Joseph Oller in 1867. Source: Internet

Parimutuel gambling is often also offered at " off track " facilities, where players may bet on the events without actually being present to observe them in person. Source: Internet

Wagering may take place through parimutuel pools, or bookmakers may take bets personally. Source: Internet

Close letter words and terms