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Horse Racing Basic Terms

Underlay

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

Minus Pool

A pari-mutuel pool – typically a show pool - where one horse is so heavily bet that after deductions there is not enough money left to cover the prescribed minimum on each bet.

Show Wager

Betting on a horse to finish in the first three spots, which pays out the same whether they win or run second or third.