A trifecta bet is a type of horse racing bet where the bettor selects three horses to finish the race in first, second, and third place in the exact order specified. This bet can be very challenging to win, but the payouts can be significant if all three horses finish in the correct order. Trifecta bets are popular among experienced horse race bettors and can be placed online or at the track. Some tracks also offer variations on the trifecta bet, such as a boxed trifecta where the horses can finish in any order.