If you are new to horse racing you should understand some of the term used at the track before you attempt to do any betting. Win, is a term used in betting where you feel that the horse you choose will win. Place, refers to the horse that you chose will finish the race in first or second place.
Show will be a bet when your choice of horse must come in either first, second or third place. This bet will pay less than the previous two, but you have better odds in that you will have 3 chances make some money. Exacta is a bet where you must pick the horse that wins and the one that comes in second, so you are picking the first an second place winners. Exacta Box is where you have chosen 2 horses as the best but not sure which will come in first or second, the safest bet is the box.
You can box various horses and know that the wager will go up. Trifecta is a bet where you must pick the horses, in order, of finishing the race in first, second and third. A Straight Trifecta involves the first three horses in a single combination. No matter what horse you pick or how much you win, a day at the races is a good day and can be shared with friends.