Things were a lot simpler in the 60s, there weren't so many different types of cycles around. What we assumed or what we were told was a racing bike is like my avatar picture. It may have been a tourer, roadster or lightweight,it looked similar to what cyclists used in the Milk Race, this myth would no doubt have been exploited by marketing people to help sell their product. It might not have had Team Banana stickers on it but it had drop handle bars, a skinny saddle, and lots of gears.
We raced one another on various machines as schoolboys do, Raleigh Ladies cycles with fully enclosed chain guards, newspaper round bikes both of which weighed a ton and soon disappeared into the distance backwards.
We also modified our bikes for dirt track racing, removing chain guards and all unnecessary bits, fitting knobbly tyres and some extremists even fitted Cow Horn handlebars.