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Bolt
A sudden veering to the inside or outside rail, often caused by the horse spooking or shying from something.
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).
Allowance Race
A race with non-claiming conditions set by the racing secretary. They are meant to be a step down from stakes racing.