A graded stakes race is any thoroughbred horse race in the United States or Canada that derives its name from the stake, or entry fee, owners must pay. The term has been applied since 1973 by the American Graded Stakes Committee of the Thoroughbred Owners and Breeders Association. 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.