What is cake?

Well, it is a way for stakers to recoup losses from horses in future stakes.  Any time a horse plays a stake for a staker that has cake and loses money, the amount lost becomes caked owed from the horse to the staker.  For example if you get a $55 stake, and the final bankroll is $25, you owe the staker $30 of cake.  Then in a future stake,  when you profit, the new stake and the old stake act as one stake.

Lets take an example.  You run a $55 stake like before and finish at $25 owing $30 in cake.  Then the next time that staker stakes you,  you get a $50 heeb, and run it up to $110.   because you owe $30 in cake, that $30 becomes stakeback with the $50 original stakeback, so essentially the stakeback would be $80.  The profit would be $30($110-$80), and then the cut is taken based of what is left  in a 50% stake this would be $15, so $95 to the staker and $15 to the horse.