Top: Games: Gambling: Terminology: P

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Pari-Mutuel

A system of betting on races, or events, whereby the winners divide the total amount bet, after deducting management expenses, in proportion to the sums they have wagered individually.


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Pit

The area surrounded by a group of gaming tables.


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Progressive Jackpot

In slot machines, a payout amount that increases with each coin played until the total amount is won. 



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