par ‧ i ‧ mu ‧ tu ‧ el /ˌpæriˈmjuːtʃuəl/ BrE AmE noun
[ Date: 1800-1900 ; Language: French ; Origin: 'mutual bet' ]
1 . [uncountable] a system in which the money that people have risked on a horse race is shared between the people who have won:
parimutuel betting
2 . [countable] American English a machine used to calculate the amount of money that people can win when they risk it on horse races