Looking for US horse racing betting terminology?

Question

I am a UK based horse race bettor and shall soon test my horse racing betting skills in US horse racing. Therefore, I want to know, what are the US horse racing betting terminologies. I would like to have a detailed explanation of US horse racing bettin

Answer 1

US TERMINOLOGY

ACROSS THE BOARD
A bet on a horse to win, place and show. If the horse wins, the player collects three ways; if second, two ways; and if third, one way, losing the win and place bets.

BREAKAGE
In pari-mutuel payoffs which are rounded out to a nickel or dime, those pennies that are left over. Breakage is generally split between the track and state and, in some cases, breeding or other funds, in varying proportions.

DAILY DOUBLE
Type of wager calling for the selection of winners of two consecutive races, usually the first and second.

EXACTA (or PERFECTA)
A wager in which the first two finishers in a race, in exact order of finish, must be picked.

FIELD HORSE (or MUTUEL FIELD)
Two or more starters running as a single betting unit, when there are more entrants than positions on the totalisator board can accommodate.

IN THE MONEY
Finishing first, second or third.

INQUIRY
Reviewing the race to check into a possible infraction of the rules. Also, a sign flashed by officials on tote board on such occasions.

LOCK
Slang for a "sure thing" winner.

MINUS POOL
A mutuel pool caused when one horse is so heavily played that, after deductions of state tax and commission, there is not enough money left to pay the legally prescribed minimum on each winning bet. The racing association usually makes up the difference.

OBJECTION
Claim of foul lodged by rider, patrol judge or other official. If lodged by official, it is called an inquiry.

ODDS-ON
Odds of less than even money. In England it is simply called "on," thus a horse "5-4 on" is actually at odds of 4-5.

OFFICIAL
Sign displayed when result is confirmed. Also racing official.

ON THE NOSE
Betting a horse to win only.

OVERLAY
A horse going off at a higher price than he appears to warrant based on his past performances.

PHOTO FINISH
A result so close it is necessary to use a finish-line camera to determine order of finish.

PICK SIX (or more)
A type of wager in which the winners of all the included races must be selected.

PLACE
Second position at finish.

PLACE BET
Wager on a horse to finish first or second.

QUINELLA
Wager in which first two finishers must be picked, but payoff is made no matter which of the two wins and which runs second.

SHOW
Third position at the finish.

SHOW BET
Wager on a horse to finish in the money; third or better.

STRAIGHT
Betting to win only.

TAKE (or TAKEOUT)
Commission deducted from mutuel pools which s shared by the track and local and state governing bodies in the form of tax.

TOUT
Person who professes to have, and sells, advance information on a race.

TRIFECTA (or TRIPLE)
A wager picking the first three finishers in exact order.

UNDERLAY
A horse racing at longer odds than he should.

WIN
Cross the finish line first.

WIN BET
Wager on a horse to finish first.