Graded Stakes - A graded Stakes is the highest level of racing in North America. They are listed as Grade 1, Grade 2, and Grade 3, with Grade 1 being the most important and prestigious. The horse usually has to be nominated for these races, which means the owner may have to pay an entry stakes fee and / or the horse may have had to won certain types of races and / or the horse may need to meet certain requirements.
Optional Claiming Race - This is still a claiming race, with the difference being that only the horses that are listed as claiming horses can be claimed. For example, if a horse is entered in an $80,000 optional claiming race but the owner did not want the horse claimed, then the trainer would enter the horse without the option of it being claimed.
Claiming Race - A claiming race is a race that every horse int eh race can be “claimed”. There is a claiming price and any horse can be claimed for the amount specified in the race requirements. For example, if a horse is entered into a $30,000 claiming race than, and another owner/trainer desires to purchase that horse, then they can give the racing stewards $30,000 and chose to claim the horse after the race. Of importance, if the horse finishes in the money, then the owner will receive that money and not the person claiming the horse. Claiming races make races more fair for all horses since a trainer / owner may decide not to enter a high-caliber and expensive horse in a race with slower less-expensive horses so as not to risk having the horse claimed for less than its value.
