pari-mutuel

pari-mutuel
A method of wagering at race tracks, whereby those who bet on the winning horse share the total stakes less a percentage to the management. People v Monroe, 340 Ill 270, 182 NE 439, 85 ALR 605; Utah State Fair Asso. v Green, 68 Utah 251, 249 P 1016, 1028. Bookmaking by machine. 24 Am J1st Gaming § 25. A form of betting on horse races conducted by means of a machine which records the number of bets placed on a particular horse to win, place, or show, the owner of the machine receiving the wagers and giving the bettors tickets or certificates showing which horse they have chosen; the total amount received, less a commission to the owner of the machine, being divided among the winners. 24 Am J1st Gaming § 25. The machine used in pari-mutuel betting for recording the bets as they are placed and determining the odds from the bets placed. Commonwealth v Samuels, 79 Ky 618, 619. Statutes have been passed in some states legalizing the pari-mutuel method of betting on horse races, while in others, statutes expressly forbidding such method have been enacted. 24 Am J1st Gaming § 25.

Ballentine's law dictionary. . 1998.

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