Handicapping is the bread and butter of racing, without it, there would be no racing of any interest whatsoever because the best horses would win all of the time. A handicap is a race for which horses are allotted weight, based on their ability on the racecourse, to try to equalize their chances of winning. There are many other factors that influence the outcome of any contest...
If a Flat race is for horses rated 56-70, for example, then nothing rated higher than 70 is eligible for entry. Horses rated lower than 56 are allowed to run, but they would normally be given weights as if they were rated 56 irrespective of how much lower than this they are actually rated. It would be stupid for the trainer of a horse rated 46 to enter. He would have to carry ten pounds more than the weight that we think would give it...
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