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  • noun

Words related to parimutuel

betting where winners share the total amount wagered

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The gambling industry still includes three major sectors: Parimutuel wagering on horseraces and other competitions, casino gaming, and State lotteries.
These days, the American parimutuel wagering industry also includes dog racing in 16 States and jai alai in Connecticut, Florida, and Rhode Island.
Hard data on employment in the parimutuel wagering sector are not currently available, but occupational licensing gives a partial estimate.
Workers linked to parimutuel wagering belong to two groups.
Jargon-buster Parimutuel A form of wagering originated in 1865 by Frenchman Pierre Oller in which all money bet is divided up among those who have winning tickets, after taxes, takeout and other deductions are made.