refers to games in which jackpot prizes are awarded to numerous players holding the same winning tickets. The prize payment is determined by the number of winning tickets for that drawing. For example, the POWERBALL® game is a pari-mutuel game, so if there are two winning tickets for a jackpot prize for the same drawing, then the total jackpot prize amount would be shared between the two winning tickets.
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. Oller called his system 'Parier Mutuel' meaning 'Mutual Stake' or 'betting among ourselves'. As this wagering method was adopted in England it became known as 'Paris Mutuals', and soon after 'Parimutuels'.
The form of wagering used at Colonial Downs whereby players wager against each other, not against the "house".
A system of wagering in which the total money wagered is distributed to winning ticket holders, less a fixed percentage returned for race track management, state tax and the racing industry. So, fans are wagering against each other and not the track.
A system where by all money wagered is put into a pool and then distributed equally to one or more winning players, with a percentage taken out of the pool to cover expenses.
A betting system in which the amount of money paid out to winners is based upon the total pool of bets.
Betting among ourselves. Type of wagering system at greyhound, thoroughbred, harness and jai alai facilities.
This is a means of gambling on races in which all bets are pooled and winners are paid according to size of pool and the number of other winners. Often shortened in US to 'mutuel'.
A common method of payoffs in which the total available money is split between all winners at a particular prize level.
Derived form the French term meaning " among ourselves." A system of wagering whereby holders of winning tickets proportionately divide the total amount of money wagered, less the take-out. Differs from casino-type gaming where gamblers are betting "against the house."
System of wagering where all the money is returned to the wagerers after deduction of track and state percentages.
