OK - so I found this from a legal case back in 1932. Thought it was interesting.
"The fifteen-minute period referred to is computed from the time what is called the "red board" goes up. The "red board," or which is the same thing, the "official board," goes up as soon as the riders of the horses are weighed in after the race to verify the weight. The "red board" is the official indication of the finish of the race, and, from the time it goes up, the fifteen-minute period starts."
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