If you ever go to the track to play the ponies, there are a few phrases you will need to know to get the most out of the experience. Here are ten horse race betting terms used at every major horse track and betting window around.

  • Show: If you place a bet to show your horse must come in first, second, or third to win. Because you are more likely to win, the payoff is low.
  • Place: A bet to place means your horse must finish first or second in the race. Slightly more difficult than a show bet, the payout is slightly larger.
  • Win: A bet to win is a bet that your horse will finish first. No other finish will pay out. Of course, if you pick correctly, your winnings will reflect the greater risk.
  • Quinella: Quinella is an exotic bet and livens up the wagering for those looking for some fun. In a quinella, two horses are selected to finish first and second, in any order.
  • Exacta: An exacta bet is also an exotic wager in which you choose two horses to finish first and second. The exacta is like a quinella, but the horses must finish in the order you choose while betting.
  • Trifecta: The trifecta bet is exactly like an exacta, but the wager is for first, second, and third place. Difficult to win, the trifecta can pay significant amounts of money to the lucky.
  • Superfecta: Along the same lines as the exacta and trifecta, the superfecta requires the bettor to name the first four finishers in the race. The odds against doing so are very high, but the winning could be worth the risk.
  • Daily Double: Think you can choose which horse will win in two consecutive races? If so, you should bet the daily double. Normally this exotic wager is offered on the first two races of the day.
  • Parlay: Rather than a specific bet, a parlay is a type of betting. In a parlay, multiple bets are combined. To win, all of the elements of the parlay must be satisfied.