Across the Board – A bet on a horse to win, place and show. If the horse wins, the player collects three ways; if second, two ways; if third, one way.
Boxed Bet – Betting on all possible combinations in a multi-horse wager like the exacta or trifecta.
Parlay – Use the winnings from one bet to place the next bet.
Win – Simply put, you win the bet if the horse wins.
Place – For a horse to “place” it must finish the race either first or second. Generally pays less than the win bet but gives you two chances to win instead of only one.
Show – For a horse to “show” it must finish the race either first, second or third. Generally pays less than either the win or place bet, but it gives you three chances for a return of your investment.
Combination Bet – Combination of two to four horses to win in chosen order.
Group Parlay – Usually takes place between friends betting on the tracks. Each bettor contributes to the pool of betting money. You elect a captain to make the wager but everyone participates in choosing the horse to show. Bet is placed on the horse that gets the most votes. If the horse finishes in the top three positions the winnings are added to the pool of betting money thens selects another race doing the same process.
Exacta – A bettor will pick the first two finishing horses in the order of their finish.
Quinella – A bettor will pick the horses that finish first and second. Either one can be first and the other one second. This bet functions exactly the same as the “Exacta” but is a separate bet altogether.
Trifecta – A bettor will pick the first three finishing horses in the order of their finish.
The simplest form of this wager is the Straight Trifecta, which is a single combination of the first three finishers. The minimum bet for Straight Trifecta is $2. To purchase, simply tell the clerk: “$2 Trifecta on 1-2-3.” A Trifecta is not offered in all races at all tracks, this wager is also called the “Triple” at some tracks.
Superfecta – A bettor will pick the first four finishing horses in the order of their finish. In other words, you must pick the horse that wins first, second, third, and fourth. This type of wager can be costly and is not a very popular among seasoned handicappers.
The simplest form of this bet is the Straight Superfecta, which is a combination of the first four finishers. The minimum bet for a Straight Superfecta is $2. To purchase, simply tell the clerk: “$2 Superfecta on 1-2-3-4.” A Superfecta is not offered in all races at all tracks.
Daily Double – A bettor will pick the winning horse in two consecutive races. All tracks offer the early daily double which involves races #1 and #2. Other tracks also offer a late daily double or the last two races of the day.
Pick 3 – A bettor will select the winning horse in three consecutive races. Most tracks only offer one or two Pick 3 opportunities per day. Some tracks offer a rolling Pick 3 where every race is part of a pick 3 bet. The simplest Pick 3 bet is the $2 Straight Pick 3. For example, you picked the #2 horse to win race #1, the #4 horse for race #2, and the #6 horse for race #3, you bet: $2 pick 3 – 2, 4, 6.
Pick 6 – A bettor will select the winner of six consecutive races prior to the first race of the Pick 6. Some tracks place the Pick 6 as the first six races, the middle six races, or the last six races. Prize pool may reach up to $1 million dollars.
That record of consistency can be traced back as early as to the inaugural Breeders’ Cup Distaff in 1984 at Hollywood Park. Princess Rooney, winner of the Vanity Handicap (G1) and Spinster Stakes (G1) in prior starts, went off as the 7-to-10 favorite and rolled to a seven-length victory.