pari-mutuel

IPA(Pronunciation)

/ˌpaɹiˈmjuːtʃʊəl/

Noun

(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.

Japanese Meaning

馬券の一種で、全ての賭け金を一つのプールにまとめ、税金や主催者の取り分を差し引いた後、残りの金額を参加者間で分配する方式の賭けシステム

What is this buttons?

The crowd's bets swelled the pari-mutuel, driving down the eventual payout.

Google Translation / DeepL Translation

観衆の賭けで賭け金プールが膨らみ、最終的な配当が下がった。

Details

Sense（1）

There is also a pari-mutuel option. You and a friend can wager that you will each lose 15 pounds over the next two months. If you both succeed, the money is returned. But if one fails while the other succeeds, then the loser pays the winner. If you both fail, then the one who loses the most is the winner.

Google Translation / DeepL Translation