exacta box
A wager in which all possible combinations using a given number of horses are bet on. The total number of combinations can be calculated according to the formula x2-x, where x equals the amount of horses in the box. For example, boxing four horses would actually be 12 combinations (42-4). To arrive at the cost of the wager, multiply the total combinations by the cost of the individual wager.
exotic (wager)
Any wager other than win, place or show. For the mathematically inclined, the amount of combinations in any exotic wager can be figured by the formula n!/(n-a!), where n is the number of horses in your wager and a is the number of finishers in the wager (two in an exacta, three in a trifecta, etc.)
false favorite
Horse that is a race favorite despite being outclassed by other competition in the field. See underlay.
fast
Footing that is dry, even and resilient.
fee
1) Amount paid to a jockey for riding in a race. 2) The cost of nominating, entering or starting a horse in a stakes race.
field
The horses in a race.