Understanding Stakes Races: A Comprehensive Explanation

Question
I haven't been able to find an explanation of what a STAKES race actually is! Everybody seems to know already, so there isn't even a definition out there...could you please tell me?!

Thanks

Hans
Sweden

Answer
Hi Hans:

A stakes race is a high-level event, usually with no "conditions" (restrictions with regard to eligibility), in which participants put up money (a stake) to enter.  The "stake" monies usually go towards the purse.  In some cases,  which can make the term "stakes race" confusing, little or no fees are required to enter and start in these races.  

Brad Adler
www.superthoroughbred.com