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.

Also Eligible

A horse that is entered but does not draw into the body of the field due to too many entries, and thus is not permitted to start unless there are enough scratches to shrink the field size.

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).