Sorry for sounding stupid but i always thought that a horse only carried a penalty(higher weight) if it won a race or at least puts in a good performance, but in game horses haven't even ran a race yet they have like +2lbs etc in weight, can someone give me a little run through on how the system works with penalties etc, cheers.
Im probably wrong with thinking a horse only carries penalties if it wins or does well.

Your rating can go up if u run them in stakes races especially if there is one or two much higher rated in there, it's especially true in condition and listed races but even in maiden races if ur horse is rated say 68 and there's a couple rated say 86 if u finish anywhere in the first 4 or 5 you could find urself going up 5-10 lbs, in an extreme example say u had a 70 rated horse and ran it in a 5 runner conditions race where the top rated is say 95 if u managed a fairly close 2nd u could find urself rated 90 afterwards. U can also tickle up a couple of pounds just for a good place in a hcap, that example is the most frustrating cos it just makes it that bit more difficult next time out
Run them down the pan if u want the weight to come off is the order of the day.