Definitions for "Pari-mutuel"
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".
Keywords:  totalisator, see
See totalisator.