The term PARI-MUTUEL MACHINE, FOR SHORT is commonly referred to as TOTE, which is a four letter acronym. A pari-mutuel machine is a type of betting system in which all bets of a particular type are placed together in a pool and the winners are determined by the amount of money wagered. This system is used in horse racing, greyhound racing, and other sports betting. The payouts are calculated by dividing the total amount of money in the pool among the winners.