Noun
betting where winners share the total amount wagered
Source: WordNetParimutuel 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