There are some types of races that are simple to understand. Stakes races and some claiming races fall into that category. They each have a certain purse value or involve horses that sell for a set price.
Yet some conditions can be quite confusing, such as a starter optional claiming race. In a sense, these are hybrid races. There are the mix of a starter race and a claiming race.
The claiming part is the easy one to understand. It’s the price another owner must pay to buy or claim the horse.