Today's SE - Aby Horse Racing Picks

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.

Allowance Race

A race with non-claiming conditions set by the racing secretary. They are meant to be a step down from stakes racing.