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What is meant by dead heats in horse race betting?

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I am a novice horse race bettor, and not aware of many horse race betting terms. Can you assist me in knowing, the exact meaning of dead heats in horse race betting?

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  1. If there are two or more horses in a dead heat, the stake money on each horse is divided by the number of runners in the dead heat, with full odds bieng paid on the remaining stakes.

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