The $10 remains a mystery for me, as well. I thought maybe it was to send to his folks, but I wasn't sure.
But I do think that he was expecting Charles to treat him like some crap servant and give him a rough time when he asked for the money. In the film, as a too-big jockey and a lousy boxer, up to that point Red was no more than just another piece of meat in the pop-sports realm, similar to the tossed away horses, so I'd imagine he wasn't expecting to be treated very well. When Charles was kind enough to give him a $20 without a lecture or anything, I think that was why Red became calmer after that. Charles became his replacement father, and not just another exploitative boss.
Just my reading, though. Ultimately, I have no idea for certain what the $10 was for.
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