Horse Racing Glossary - K

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Kelly system – a staking method otherwise known as ‘fixed fraction betting’.

Key races - Races which, because of their quality or the time in which they were run, will act as a guide in future contests

Knock back – When a bookmaker offers to accept a bet at lower odds or for a lower stake, in part at full odds with the balance at reduced odds.

Knock out - Scheme in which by manipulating the odds at the course a generous starting price is achieved for the favourite

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