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Bullet

A bullet, or bullet workout, is a workout that was clocked as the best time for a certain distance on a given day.

Underlay

A horse that is going off at lower odds than it deserves based on performance.

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.