Today's NZ - Winton 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).

Morning Line

An approximation of expected odds in a race, quoted before actual odds are determined.

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.