Rabbit

Also known as a pacemaker; this is a horse with no expected chance of winning but is used to prompt a quick pace on the front end of the race to the benefit of a stablemate who is a closer.

Stakes Race

Stakes Races are known as better class races, with higher purses and often accompanies by trophies.

Allowance Race

A race with non-claiming conditions set by the racing secretary. They are meant to be a step down from stakes racing.