The Minimum
Investment for all bet types is 1 unit and in most states a unit is 50 cents.

Win
You choose the horse that finishes first ($2 minimum wager).

Place
You pick the horse that finishes first or second ($2 minimum wager).

Show
You select the horse that finishes first, second, or third ($2 minimum wager).

Exacta / Perfecta
This bet involves two horses at one race. The gamble pays if the numbers acquired finishes first and second in the exact order specified. Combinations of numbers are allowed which are more known as box or wheel. Exacta odds are usually displayed on the rotating bet display monitors positioned at various points around the track.

Quinela
This bet involves two horses in the same race. You get paid if the numbers purchased finishes first and second in any order. Combinations of numbers (box or wheel) are permitted too. If you think that either of three horses can finish first or second in the race, then you should box all three numbers for the quinela. This means that if the winner and the second horse are in your selections, you win.

Trifecta
The trifecta obliges the bettor to mark first, second and third in the correct order of finish. Except professionals, everyone should box or wheel this bet. The payout on this bet is always better than the exacta or quinela because of the level of complexity involved.

Superfecta
The superfecta requires the bettor to spot first, second, third and fourth in the exact order of end. Keep away from this bet unless you are feeling extremely lucky or you have patterned the winner at a good price.