The Belmont Bet is a popular horse racing bet that involves picking the first two finishers in exact order. An EXACTA is a type of bet where the bettor must pick the first two finishers in exact order, and SHOW is a type of bet where the bettor must pick the first three finishers in exact order. The Belmont Stakes is a prestigious horse race held annually in Elmont, New York, and the Belmont Bet is a bet placed on the outcome of the race.