Parimutuel betting

Betting system in which all bets of a particular type are placed together in a pool

Parimutuel betting or pool betting is a betting system in which all bets of a particular type are placed together in a pool; taxes and the "house-take" or "vigorish" are deducted, and payoff odds are calculated by sharing the pool among all winning bets. In some countries it is known as the tote after the totalisator, which calculates and displays bets already made.

This keyword could refer to multiple things. Here are some suggestions: