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Rabbit
Also known as a pacemaker; this is a horse with no expected chance of winning but is used to prompt a quick pace on the front end of the race to the benefit of a stablemate who is a closer.
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.
Paddock
The area where horses gather before the race to be saddled and paraded for the public.