A graded stakes race is a term applied since 1973 by the American Graded Stakes Committee of the Thoroughbred Owners and Breeders Association to thoroughbred horse races in the United States and Canada to describe races that derive their name from the stake, or entry fee, owners must pay. These fees, to which the track adds an additional amount, constitute the total amount from which prize money is paid to the first, second, third, and usually fourth place finishers.