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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).
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.
Superfecta
A wager involving choosing the first, second, third, and fourth horses in one race in the exact order. A superfecta box involves paying more to ensure they can finish in any order in the top four spots.