Today's SE - Kalmar Horse Racing Picks

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).

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.

Stakes Race

Stakes Races are known as better class races, with higher purses and often accompanies by trophies.