Every horse in Photo Finish Live has a status that let's you know how it is. A horse's status lets you know what actions it can perform. It changes pretty regularly.

A horse that's Ready to Race can register for races or be sold to other players. It has no outstanding debts, injury risk, or negative conditions.

A horse that's Recovering  has run a race recently. It can register for races or be sold. However, if it races before the recovery timer ends, it has an increased risk of becoming Injured.

A horse that's Exhausted has raced very recently. It cannot register for races but it can be sold to other players.

A horse that's Injured has suffered an injury and needs to heal. A horse that's Injured cannot register for races, breed, or be sold to other players. To recover from an injury, you must wait until the timer finishes and then pay the horse's medical bill from the horse's information page.

A Retired horse cannot register for races, but it can breed or be sold on the market. Male horses can also be put on the Stud Market where players can use them as breeding partners by paying you a fee.

A Pregnant horse is a mare that is carrying a foal. It cannot breed or register for races, but it can be sold (with the pregnancy) on the market. Foals will arrive after an amount of real world time.