parimutuel
Defined in 1 dictionary — U.S. Code
United States Code
15 U.S.C. § 3002 — for the purposes of this chapter
“parimutuel” means any system whereby wagers with respect to the outcome of a horserace are placed with, or in, a wagering pool conducted by a person licensed or otherwise permitted to do so under State law, and in which the participants are wagering with each other and not against the operator;