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State-Bred
A horse bred in a particular state and thus eligible to race in restricted state-bred races. These can be anything from maiden races to stakes events.
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).
Track Bias
The term used to identify which parts of the track or running styles are producing more winners.