Underlay

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

Stakes Race

Stakes Races are known as better class races, with higher purses and often accompanies by trophies.

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.