"Pari-mutuel wagering" means a form of betting on the outcome of a race in which all bets are pooled and held by a licensee for distribution of the total sum of the bets, less any deductions authorized by law, to holders of winning tickets.
N.H. Admin. Code § Pari 801.41
#7820, eff 1-11-03 (formerly Chapter Pari 500)