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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).

Allowance Race

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

Trifecta

A wager picking the first, second and third horses in the exact order. A trifecta box means paying more to ensure the horses can finish in any order in the top three spots.