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Horse Racing Basic Terms

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.

Allowance Race

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

Overlay

A horse going off at higher odds than his recent efforts show that he deserves.