Today's AU - Hanging Rock (bad) Horse Racing Picks

Sloppy

A wet racetrack condition, typically with a firm base and water settling on top.

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).

Underlay

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