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.

Across the Board

Refers to betting on a horse to finish first, second, and third to cover any of those scenarios happening during a race

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).