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Horse Racing Basic Terms
Pari-Mutuel
A pool style wagering system, where all money input through betting is divided among those with winning tickets (save for various deductions by the track operators).
Daily Double
A wager on two consecutive races on the card where bettors have to pick both winners.
Show Wager
Betting on a horse to finish in the first three spots, which pays out the same whether they win or run second or third.