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Horse Racing Basic Terms
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).
Bleeder
A horse that bleeds due to a ruptured blood vessel during a race or workout. The medication Lasix can fix this problem.
Underlay
A horse that is going off at lower odds than it deserves based on performance.