Horse Betting Guide 
Win
This most basic type of bet, you win when the horse wins.Place
In this type of wager, the horse must finish the race better than third.
The Place bet obviously pays less than the win bet while giving you two chances to win instead of one.
Show
With this type of bet your chosen horse must finish in either three first places. The Show bet pays less than both win and place wagers, but gives you three chances for a return of your money.
Across the Board
A wager on a horse to win, place or show. If the horse comes first, the player collects three ways; if he comes second, two ways; and if third, one way.
Boxed Bet
Betting on all possible combinations in a multi-horse wager like the trifecta or the exacta.
Parlay(Accumulator)
With Parlay you use your winnings from one bet to place on another bet.
Combination Bet
You choose between two to four horses to come in a chosen order.
Quiniela
You bet on two horses to win in no particular order.
Perfecta/Exacta
You bet on two horses in a particular order.
Daily Double
In order to win a Daily Double bet, you must pick the winning horse in two consecutive races. The early daily double which is the first and second race is given by All tracks. Other tracks gives a late daily double as well.
Trifecta
A bettor will pick the first three finishing horses in the order of their finish. The most basic form of the Trifeca wager is the Straight Trifecta, A single combination of the first three finishers. This type of wager is also called the "Triple" at some tracks.
Superfecta
With a Superfecta wager, You pick the first 4 horses who cross the line, The winning horse, the second placed one, the third, and the fourth. This type of wager can be expansive and is not so popular. The most basic form of this bet is the Straight Superfecta, which is a combination of the first four finishers. This type of bet is not offered in all races at all tracks.
Pick 3
You need to pick the winners of three consecutive races. Some race tracks use rolling pick 3 which let the player pick three races in a row and continues for the next three.
Pick 6
This type of bet let you select the winner of six consecutive races before the first race of the pick six. Some race tracks place the pick six as the first six races, the middle six races, or the last six ones.
Future Events
You can bet on future races at the start of each season. The sportsbooks may give out odds for horses to win a certain event. These odds may change as the race date approaches, but if you win you get paid at the original odds that you took (much like in case of options, odds will get shorter). This can propose a highly profitable bet but you are in the danger of losing everything if the horse is injured.
Exotic Bets
You can sometimes place a bet on unusual events. Some sportsbooks offer odds on strange and unexpected sports related event, others may take your offer to give odds on any event you might think of. Internet offers unlimited opportunities on that matter.
For Better Understanding On How Things Work, Check Our Wager Examples Page
