Pick (3,4,5,6)
A type of multi-race wager in which the winners of all the included races must be selected.  

Pill
Small numbered ball used in a blind draw to decide post positions.  

Pinched Back
A horse forced back due to racing in close quarters.  

Place
Second position at the finish.

Place Bet
Wager on a horse to finish first or second.  

Placing Judge
Official who posts the order of finish in a race.  

Point of Call
A horse's position at various locations on the racetrack where its running position is noted on a chart. The locations vary with the distance of the race.  

Pole
1) Markers at measured distances around the track designating the distance from the finish. The quarter pole, for instance, is a quarter of a mile from the finish, not from the start. 2) The top of the head, between the ears. 

Pony
Any horse or pony that leads the parade of the field from paddock to starting gate. Also, a horse or pony which accompanies a starter to the starting gate. Also can be used as a verb. He was ponied to the gate. Also known as a "lead pony."  

Post
1) Starting point for a race. 2) An abbreviated version of post position - He drew post four. 3) As a verb, to record a win - He's posted 10 wins in 14 starts.