Today's SE - Farjestad Horse Racing Picks

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.

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).

Fractions

The times recorded during the race; with timing starting just past the gate or when the gates open, then parroted for the quarter, half, three-quarters etc. Used as an indication of ability and speed.