Trifecta

A wager picking the first, second and third horses in the exact order. A trifecta box means paying more to ensure the horses can finish in any order in the top three spots.

Exacta

A bet selecting the first and second horses in a race in the correct order. An exacta box refers to paying a little more to ensure they can finish in either order.

Morning Line

An approximation of expected odds in a race, quoted before actual odds are determined.