Today's SE - Hagmyren Horse Racing Picks

Underlay

A horse that is going off at lower odds than it deserves based on performance.

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).

Bute

Shortened word for phenylbutazone, the common non-steroidal medication legal at most racetrack.