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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.
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).
Bobble/Stumble
A slip or a duck from a horse trying to leave the starting gates, often caused by the surface giving way under the feet. This can range from a mild misstep to a stumble down to their knees.