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par·i-mu·tu·el
 pari-mutuel
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- pronunciation:
- pae
ri
myu
chu
 l
| part of speech: |
noun |
| definition 1: |
a system for betting on horse races, in which the winnings are paid from the total amount bet, minus taxes and management expenses.
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| definition 2: |
a machine that records the bets in this system and calculates the odds and the amount of payoff that winners receive.
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