pari-mutuel in Finnish

(horse racing) Any betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets. [from 19th c.]

(horse racing) Any betting system in which all bets of a particular type are placed together in a pool; taxes and a house take are removed, and payoff odds are calculated by sharing the pool among all placed bets. [from 19th c.]

A booth used to place such bets, or a machine used to record bets and calculate payoffs. [from 19th c.]