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).

Workout

A workout is a timed sprint over varying distances prior to a race, meant to get a horse fit enough for competition.

Also Eligible

A horse that is entered but does not draw into the body of the field due to too many entries, and thus is not permitted to start unless there are enough scratches to shrink the field size.