parimutuelly

Parimutuelly is an adverb formed from the noun parimutuel, used to describe actions or processes conducted under a parimutuel betting system. The form is uncommon in everyday writing; more typical phrasing uses parimutuel betting or parimutuel systems.

In a parimutuel arrangement, all bets for a single event are placed into a single pool. After the event ends, a house takeout is deducted, and the remaining pool is distributed among winning tickets in proportion to the amount wagered. Because payouts depend on how many bets and on which outcomes were placed, odds are not fixed in advance and can change as the pool develops.

Parimutuel betting is standard in horse racing and greyhound racing, and it is also used in various tote-based wagering systems around the world. The term appears in several languages in the form pari mutuel or pari-mutuel; in some markets it is referred to as tote betting, reflecting the operator structure rather than a fixed-odds model. The emphasis in parimutuel systems is equity among bettors, since winners share the pool rather than the house setting separate odds.

Etymology and history: pari mutuel is French for “mutual betting.” The concept originated in France in the late 19th century and spread internationally, with many jurisdictions adopting its pool-based approach for racing and other events. The adjective parimutuel describes the system, while parimutuelly, when used, denotes doing something in that system’s fashion.