This Loake image on the left pretty much says it all. There is no welt as in Goodyear welted shoes – instead, the components are simply glued firmly together. This makes for a shoe that is more flexible, potentially slinkier and lighter (because there is no welt) but less easily repaired than a welted shoe. A cemented shoe is not necessarily of lower quality than a welted shoe and may well be made of the finest leathers – upper and sole. The technique doesn’t carry the same heritage as welted construction and therefore doesn’t have same cachet – but different courses require different horses and the cemented shoe definitely has its place in the “good shoe” market.
There is another welting technique known as “Blake Sewn/stitched” or “Blake Welted”. The stitching is done from inside the shoe and there is no separate welt.