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.

State-Bred

A horse bred in a particular state and thus eligible to race in restricted state-bred races. These can be anything from maiden races to stakes events.

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.