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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).

Bolt

A sudden veering to the inside or outside rail, often caused by the horse spooking or shying from something.

Claiming Race

A race in which horses are entered for a certain price, or claiming tag, which is also their sales price. An owner can claim any horse entered for the tag before the race begins, and owns them as soon as the gates open.