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Lasix
A medication for the treatment of bleeding in horses that is legal in North America, but not all worldwide jurisdictions.
Fractions
The times recorded during the race; with timing starting just past the gate or when the gates open, then parroted for the quarter, half, three-quarters etc. Used as an indication of ability and speed.
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).