parimutuel(s)

A form of wagering originated in 1865 by Frenchman Pierre Oller in which all money bet is divided up among those who have winning tickets, after taxes, takeout and other deductions are made. Oller called his system “parier mutuel” meaning “mutual stake” or “betting among ourselves.” As this wagering method was adopted in England it became known as “Paris mutuals,” and soon after “parimutuels.”

parlay

A multi-race bet in which all winnings are subsequently wagered on each succeeding race.

part wheel

Using a key horse or horses in different, but not all possible, exotic wagering combinations. See wheel.

past performances

A horse’s racing record, earnings, bloodlines and other data, presented in composite form.

pick (number)

A type of multi-race wager in which the winners of all the included races must be selected. Pick Three (sometimes called the “Daily Triple”), Pick Six and Pick Nine are common.

place bet

Wager on a horse to finish first or second.

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