A Carabao is a swamp-type domestic water buffalo.
It is also called Bubalus bubalis.
The Carabao or Bubalus bubalis is considered the national animal of the Philippines. I think almost every farmer has his own carabao. A carabao can be very useful in the field because it can help with a lot of field work. People also play carabao racing. It is a widely popular sport especially for farmers and carabao enthusiasts. A race carabao can cost 35,000 pesos up to 60,000 pesos. Most of the races have prizes as high as 200,000 pesos.