Revealing mistake: In the beginning scene, where the horse tamer is chasing the "mustangs", you can occasionally see the glint of a horseshoe on various "wild horses". (00:03:40)
Continuity mistake: When Chris Cooper is standing next to the barbed wire fence at the beginning of the film and he puts his finger on it, the positioning of his hand is different from the wide shot to the close up. (00:07:25)
Continuity mistake: After the car race into the mountains Charles gives a speech. When a photographer takes a picture a huge cloud arises from the flashlight and drifts over to Charles. However, in the next two shots the cloud is gone, but in the third shot it's back again. (00:07:55)
Continuity mistake: After the death of his son we see Charles sitting in an armchair playing with the small marble game. The way he is holding the game changes back and forth between shots. (00:22:50)
Continuity mistake: In the first of Red's boxing fights he gets very badly hit on his right eye. When he is leaning against the ropes blood is running down his cheek, but when he turns around the lower part of his cheek is clean. (00:25:25)
Factual error: Jockeys did not wear goggles and their skullcaps did not have chinstraps in the 1930's. Protective equipment for jockeys was practically non-existent during Seabiscuit's racing days. (00:28:10)
Factual error: In the scene where Red is with the Mexican girl and half the screen goes dark to show that he's blind in one eye, it should actually be less than half the screen. The visual fields of the eyes overlap to allow for depth perception. You can see for yourself by putting a pencil vertically at the tip of your nose and closing one eye - if you look straight ahead you can still see things on the other side of the pencil. Red should be able to see slightly more than half of what's in front of him. (00:32:45)
Factual error: In the scene where Red Pollard is walking hots, he is leading the horse around on a mechanical walker which did not exist at the time. (00:41:40)
Factual error: In the scene where Seabiscuit is weaned from his mother, the narrator says that he was six months old at the time. However, the foal used in the movie is less than one month old. (00:43:30)
Factual error: There is a scene at Saratoga where the grandstand is viewed from the backstretch. In the 30's the grandstand was not that large. Since then, there have been several additions to the grandstand. You can plainly see the new clubhouse (the white area on the left) which was just added recently. In fact this particular view should have shown the "Wilson Mile" chute which is no longer in existence but was in the 30's. (00:48:25)
Continuity mistake: When all the protagonists are sitting on one bench in church Red has a big smile on his face. When the camera angle changes to a close-up his smile is completely gone. (00:55:10)
Factual error: The flat top inside rail at Santa Anita racetrack is a new style safety rail. (00:59:50)
Factual error: When Charles gives Red a $20 advance he hands over a modern bill. (01:03:40)
Continuity mistake: When Charles gives Red $20 with his left hand he is holding a newspaper under his right arm. The camera angle changes that we see Charles' upper body from behind, he puts his right hand on Red's shoulder, and when we see the whole Charles again the newspaper has disappeared. (01:04:00)
Continuity mistake: When the protagonists listen to Mr. Riddle on the radio Tom's hand covers his mouth. When the camera angle changes he is holding his arm over his stomach. (01:12:45)
Continuity mistake: In the race for the $100,000 purse (that Rosemont wins), just after Seabiscuit takes the lead, there's a closeup of Seabiscuit's head and Pollard's right leg - Pollard is wearing the brace he made later in the movie after his leg was shattered. Obviously, the shot was taken from those filmed for the Santa Anita race later in the film. (01:17:40)
Factual error: When they are heading east to race with War Admiral, there is a scene at the Los Angeles Union Station. This is in 1938; the station was not opened until the following year. (01:20:00)
Factual error: In the scene where the Seabiscuit Special is headed East, they make a stop in Albuquerque. If you look closely, in one shot there are palm trees in the background. There are no palm trees in the vicinity of the Albuquerque train station. (01:21:10)
Continuity mistake: Before the race at Pimlico a crowd of reporters is waiting at the stable window for Seabiscuit to be worked out. The way they are leaning in the window sill varies greatly between close-up and a wide angle that shows them and Tom. (01:26:50)
Visible crew/equipment: When Red has the accident and the horse is trying to get on its feet there is a clear view of the stuntman's face. (01:29:55)
Answer: I have tried to look this up, and there is no record of Red's parents. Most likely they just died of old age.