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A Straight Wager is a bet on the Win, Place or Show:
The minimum that you are allowed to wager is $2 for straight bet. This means that all the the final winning prices are all based on a $2 bet.
For example: if you bet $10 to win, and the win price was $5.00, you would win a total of $25.
The math works like this: $10 (amount bet) multiplied by $5 (winning payoff for 5/1 odds) divided by 2 (as the price was based on a $2 wager) = $25.