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Bleeder

A horse that bleeds due to a ruptured blood vessel during a race or workout. The medication Lasix can fix this problem.

Bute

Shortened word for phenylbutazone, the common non-steroidal medication legal at most racetrack.

Pari-Mutuel

A pool style wagering system, where all money input through betting is divided among those with winning tickets (save for various deductions by the track operators).