👉 A parimutuel is a system where each bettor receives a fixed percentage of the prize money, regardless of whether they win or lose. This means that if one bettor wins, their share of the prize money is reduced by the amount they won; if they lose, their share increases. The term was coined in 1820s France and refers to the practice of betting on horse races as a way to earn a living from gambling. In essence, it's like placing