PacesetterThe horse that is running in front (on the lead).
PaddockArea where horses are saddled and paraded before being taken onto the track.
Paddock JudgeOfficial in charge of paddock and saddling routine.
PanelA slang term for a furlong.
ParimutuelA form of wagering originated in 1865 by Frenchman Pierre Oller in which all money bet is divided up among those who have winning tickets, after taxes, takeout and other deductions are made. Oller called his system "parier mutuel" meaning "mutual stake" or "betting among ourselves." As this wagering method was adopted in England it became known as "Paris mutuals," and soon after "parimutuels."
ParlayA multi-race bet in which all winnings are subsequently wagered on each succeeding race.
Part WheelUsing a key horse or horses in different, but not all possible, exotic wagering combinations.
Past PerformancesA horse's racing record, earnings, bloodlines and other data, presented in composite form.
Patrol JudgeOfficial who observes the progress of a race from various vantage points around the track.
Photo FinishA result so close it is necessary to use the finish line camera to determine the order of finish.