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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.
Superfecta
A wager involving choosing the first, second, third, and fourth horses in one race in the exact order. A superfecta box involves paying more to ensure they can finish in any order in the top four spots.
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).