Exotic Horse Racing Wagers – Exacta Betting The Exacta is a horse racing wager that you NEED to know. It’s more straightforward than most of the other exotic wagers, and it’s one of the least difficult to get right. It’s still harder than a straight bet, but the potential payouts more than make up for that. An Exacta bet in horse racing is the wager placed on which horses which will finish the race first and second, in the correct order. What is the Minimum Stake on an Exacta Bet? The minimum stake is usually $1 for an exacta bet, although some tracks do have a $2 minimum. Online Exacta bets have the same minimum stake as betting Exactas at the track. Superfecta Betting Understanding Superfecta Betting So you've mastered the win-place-show and simple exotic bets like an Exacta and Trifecta. Why not try selecting the first four horses to cross the line? What is a Superfecta bet in horse racing & can I place a Superfecta on Kentucky Derby? Exacta bets, also referred to as perfecta or exactor bets, involve a bettor choosing two horses he thinks will place in the top two positions. Unlike the popular quinella bets, exacta bets require you to select the correct finishing order of the top two horses.

There is simply no sport in the world quite like horse racing. Showcasing pure power on the track, it’s no wonder why these horse and jockey combinations command the attention of millions of punters around the world every single week. But what happens on the track is only part of what makes this sport so fun, as the betting markets in the world of horse racing never fail to bring the action.

From a basic flutter and beyond, there are countless ways for you to bet on the big (and not so big) races out there. If you’ve moved beyond the win, place and show side of betting — and we’re sure that if you are reading this article you likely have — it’s time to increase the potential returns with something more exotic or “exact.”

Odds are an exacta bet is exactly what you’re looking for. The following looks at the ins and outs of exacta betting, so you know exactly what you’re getting yourself into before you put down any cash.

What is an exacta bet?

Exacta bets, also referred to as perfecta or exactor bets, involve a bettor choosing two horses he thinks will place in the top two positions. Unlike the popular quinella bets, exacta bets require you to select the correct finishing order of the top two horses.

If your choices win and place, but in the order other than what you specified, you win absolutely nothing at all. To guard against this possibility, exacta bets allow you to box your horses, so that all possible combinations are covered. This increases your odds of success, but it also increases the cost of placing a bet.

Types of exacta bets

Like the quinella bet, an exacta bet is anything but one-dimensional — don’t worry, we’ll be comparing those two types of bets and clearing up a few misconceptions later on. Looking strictly at exacta bets, depending on how much risk you want to face, there are various ways for you to place such a wager.

While you might have to crunch the numbers, there is nothing to fear with exacta bets; it just takes a little knowledge to get the best out of them. The following are the three main types of exacta bet, with the requirements for each explained in detail.

Straight exacta

A straight exacta is exactly what the description above says. You pick two horses and the order in which you believe they’ll win and place. If you’re right, you win. If you get the order wrong, you lose, even if they both win and place.

The format is as follows: You place a 3-6 exacta bet for $2. This means that you expect horse No. 3 to win, and horse No. 6 to place. If the reverse happens, you win nothing. If it sounds simple, that’s because placing a straight Exacta bet pretty much is.

Exacta box

Exacta boxes are more flexible than straight exacta bets, which carry a higher amount of risk. These bets allow you to select more horses that you think will finish first or second. Each combination counts as a $2 bet. So, say you think horses 5 and 8 will win and place. You’d place 5-8 and 8-5 bets for $2 apiece, for a total of $4.

Fortunately, you aren’t limited to just two horses — you can select as many horses as you want to. This will substantially increase the odds of getting a payout, with the downside of exponentially increasing your bet size.

This type of exacta bet won’t limit you to the number of horses, but the significantly increasing odds of success are reflected in the price scheme for placing such bets. A bet with three horses would cost you just $12, but the cost of four or more horses is significantly higher.

Here is a quick example of how the pricing scheme would work, as the cost scales exponentially with each horse you add to your betting pool:

• 4 horses = $42 total bet
• 5 horses = $120 total bet
• 6 horses = $240 total bet

Since the cost does not scale linearly, it rapidly reaches the point where the cost of adding more horses onto your bet does not overcome the increased odds of winning.

In the most extreme case, betting on eight horses will net you about $30 in winnings against a cost of nearly $680. While victory is virtually guaranteed with such odds, you’ll actually lose a lot of money making such a bet. Figuring out the most effective cost-to-bet ratio is an exercise best left to veteran players who understand the math of probability and statistics inside and out.

Exacta wheel

An exacta wheel bet involves bettors picking at least one horse that they think has what it takes to win reliably. This horse will serve as a common thread in a number of bets with different combinations of horses that you think will win. As an example, say you think horse 3 is the prime choice.

You want to select horses 1, 2, 5 and 6 as well. If you were only confident in horse 3’s ability to win or place consistently, you could place your bet like this: bet a wheel with horse 3 over 1, 2, 5 and 6. These five horses would yield a total bet size of $8 rather than $40, and would contain a much wider range of winning combinations.

The lower bet size coupled with greater odds for success make this a prime option for bettors looking to maximize their odds of getting a payout.

How to play the exacta key

Exacta keys are a popular way to maximize your chances of winning. The name comes from the fact that you think one horse is “key” to winning all your races, but you aren’t so sure that the other horses are up to finishing where you would like. You might think that horse 5 is the best, but horses 2, 6 and 8 might also be good choices to place. You select horse 5 as your key, and add the other three horses to your tickets. Horse 5 is selected to win, while all the other horses can place.

As you have probably guessed already, there are some similarities between an exacta box wager and playing the exacta key.

What is the difference between an exacta and exactor Bet?

Exacta and exactor bets are two names for the same type of bet. These are bets in which you select two horses that you think will finish in the top two slots. You must select the horses in the correct order, or you’ll win nothing even if they still win and place. Some people seem to feel that an exactor bet is something different entirely. Not being one to burst anybody’s bubble, but it isn’t.

How to calculate an exacta payout

There’s no “average” payout for an exacta bet — it varies significantly depending on the race, horses, track and even the weather. If two horses who are heavily favored to compete, you’ll likely win less than $12 on a winning ticket. Larger fields will boost this to around $35. If you’re feeling lucky, you can bet on a “dark horse,” which can yield returns in excess of $1,000. We know, this is simple horse race betting 101 for the most part, but there is a little more to it than that.

Because exacta bets vary so much even between races, scoreboards will commonly display the expected payouts for different kinds of exacta wagers. This gives you a prime opportunity to inspect for possible overlaps or advantageous combinations of horses. Alternatively, you can skip combinations that are less likely to pay out, and adjust your betting strategy accordingly. Most race tracks pay out exacta bets in $2 increments, starting at the minimum of a $2 payout.

Here are the calculations you’ll be looking at should you be looking at making an exacta bet:

• If you place a $2 exacta box with both combinations, that will cost you a total of $4, because it means that both combinations of showings can net you a payout rather than just one.
• If you place a $2 bet on a combination of three horses, this will now set you back $12 instead of $4. In this scenario, any two of the three horses you bet on can win and place, and you’ll still get a payout.
• If you place a $2 exacta key bet, then you will pick one horse to win in each race, and all the others must place. This will cost you $12. If you decide to go with two horses over four horses in an exacta key bet, then you’ll still have to pay $12, with an increment of $2 thereafter.

Quinella vs. exacta box

Due to the superficial similarities between the two bets, a lot of gamblers find themselves confused as to the difference between exacta and quinella bets. On the surface, they appear to be the same — so why would a bettor choose one format over the other? One key reason is because the lowest bet you can make is fixed at different amounts. Exacta bets used to require a $5 minimum versus just $2 for quinella, but this rule has been relaxed in some places. In some places, the cost of the two has been equalized to account for the extra tickets exacta bets need to achieve the same odds of payouts as quinella bets.

Quinella bets are often appealing to punters who are new to exotic bets, because the order in which their chosen horses finish does not matter at all. If you choose horse 3 and horse 5, they can finish in either order and give you a payout, so long as they both take the top two spots. Exacta bets are less flexible and require you to specify the correct finishing order of the horses. You can box your exacta bets to neutralize the odds, but this will cost you additional money for each bet you place. After considering the differing odds between the two, the payouts typically don’t vary too much. Which one you choose often comes down to preference.

That being said, a key distinction between the two is that the quinella bet counts as a single bet, whereas the exacta bet is considered to be two bets for the same odds. Quinella and exacta tickets both cost $2, but getting the same “coverage” with exacta bets requires you to buy two tickets rather than one, effectively doubling the cost to play with the same odds. And, because the track takes part of the winnings for itself, going the exacta route means that you’ll have to pay this fee twice. While the house might vary the percentage take between the two formats, in most cases exacta winds up costing you more.

FAQ

What exactly is an exacta bet in horse racing?

Exacta bets are when punters select two horses that they think will win and place, as well as the order in which they do so.

What is the minimum stake on an exacta bet?

Stakes start at $1 in some places, and $2 in others. If you’re gambling online, the minimum amounts are the same as if you were betting in-person.

How do I make an exacta bet?

Good news — you don’t need to be at a major horse racing track to make exacta bets. As a matter of fact, you don’t even need to be there at all. Nowadays, exacta bets can be placed online in most jurisdictions. Keep in mind, though — this isn’t true everywhere. We highly encourage you to check your state’s laws on online gambling before you go placing bets.

How much can I win with exacta bets?

The sky’s the limit when it comes to exacta bets, and if you have a “go big or go home” attitude, you can make an exacta wager to rake in the cash. Just remember that winnings are handled by the pari-mutuel system, which governs how prize money is distributed.

Which pays more, exacta or trifecta?

The trifecta always pays much more than exacta, because the odds of victory are significantly lower. In addition, the payouts are also determined by how much money was paid into them by all the combined bettors. Because trifecta bets have such long odds, not as many people buy tickets for these kinds of bets. Exacta bets usually attract more bettors, but the risk/reward ratio of trifecta bets attracts some people who might have otherwise bet exacta on a race.

If you are ready to win and win big, it might be time to calculate the perfect Exacta Bet. Exacta horse racing betting is popular, but not always easy. It’s more straightforward than most of the other exotic wagers, and it’s one of the simplest bets. Sure, it’s harder than a straight bet, but when you get it right, it can be a lucrative win with remarkable margins.

What Is An Exacta Bet?

An Exacta Bet, also referred to as an Exactor or Perfecta, is one where the bettor picks both the first and second place winners in exact order. In order to win an Exacta Bet, both horses must finish in the chosen order. If either prediction is wrong, the bet is off.

For example, in an Exacta Bet you choose horse #2 to place first and horse #5 to place second. If that happens, you win. But if horse #5 places first and horse #2 places second, you lose.

It’s an all or nothing gamble, which makes it difficult to accomplish but it’s easier than some of the other bets (such as Trifectas and Superfectas). This makes Exacta Betting extremely popular among horse racing enthusiasts. When you master it, the rewards can be great.

Different Types of Exacta Bets

There are two different types of Exacta Bets. A straight Exacta Bet or an exacta box bet. A straight Exacta Bet is exactly as described above, two horses chosen for first and second place. An exacta box allows you to choose more horse combinations in a single bet, but makes that bet significantly more expensive. Here’s a breakdown of how they each work:

Straight Exacta Horse Racing Betting

A bet on two horses to finish in first and second (Win and Place) in precise order. Minimum bet is $2. An Exacta Betting slip would show $2 Exacta (2-7). This means you have placed a $2 Exacta Bet on horse #2 to finish in first place (Win) and horse #7 to finish in second (Place).

Exacta Box Horse Racing Betting

An Exacta Box bet is more versatile, allowing multiple bets on a single slip. For example, you can bet on horse #2 and #7 and you win whether it’s a #2 Win – #7 Place, or #7 Win – #2 Place. This is actually multiple Exacta Bets and so the cost increases with each additional horse. If you want to add to your Exacta “Box” you can also add in a third horse. Each additional horse increases the cost of the bet. You can actually put as many horses as you like on the Exacta Box, but be aware that the price will continue to rise with each horse added.

Exacta Bet Calculator

Playing an Exacta increases your chances of winning, while also increasing your cost of playing. To calculate the cost of an Exacta Bet, multiply the number of horses used on top, or the win position, of the exacta with the number of horses used in the second position (less one if the same number is used on top in the exacta).

$2 Exacta Costs

• Basic Exacta 2 & 6: $2 (one combination)

$2 Exacta Wheel and Part Wheel: Choose one or two horses in first position, and cover multiple other horses in second position. It’s more efficient than the Exacta Box, and cheaper.

• Exacta Wheel 1 with all (ten horses in race): $18.00 (nine combinations)
• Exacta Part Wheel 2 with 3,4,5,6: $8.00 (four combinations)
• Exacta Part Wheel 2 with 3,4,5,6: $8.00 (four combinations)
• Exacta Part Wheel 3,4,5,6 with 2: $8.00 (four combinations)
• Exacta Part Wheel 2,3,4,5,6 with 2,3,4: $24.00 (12 combinations)

$2 Exacta Box: Any two of your horses must finish first and second. To figure the cost: Multiply the number of horses used by the number of horses used less one times $2 wager.

• Exacta Box 1,2: $4 (two combinations)
• Exacta Box 1,2: $4 (two combinations)
• Exacta Box 1,2,3,4: $24 (12 combinations)
• Exacta Box 1,2,3,4,5: $40 (20 combinations)

What Is An Exacta Box Bet In Horse Racing

The more horses you add to an Exacta Bet, the more likely you are to lose money in the end. If you bet on 8 horses, you have more chances of winning, but you would be lucky to make $30, resulting in a loss of nearly $650. For this reason, Exacta Box horse racing betting is generally best left to experienced handicappers, or those who employ the services of a veteran handicapper.

What is the Minimum Stake on an Exacta Bet?

For most horse racing tracks, the minimum wager for an Exacta Bet is $2. There are some tracks that offer a $1 exacta wager.

How To Calculate the Payout for An Exacta Bet

Payouts for these wagers are calculated using the pari-mutuel system. This means you’re betting into a pool and there are no fixed odds involved. All of the money for Exacta Bets goes into one pool, that pool of money is distributed among the winning tickets. This means that if there is an upset in the race, you can win big – whereas if lots of people bet on the winners, the winning prize may be much smaller.

Exacta Bets In Horse Racing

Let’s look at an easy example…

• A total of 3,000 $2 Exacta tickets are bought for a race.
• The proceeds from those tickets form the prize pool.
• 3,000 x $2 = $6,000, so the prize pool has $6,000 in it.
• 50 of the tickets sold have the correct finishing order of the first two horses.
• Each winning ticket receives an equal share of the prize pool.
• $6,000 / 50 = $120, so each winning ticket returns $120.

Of course, the track will take out its portion before the prize pool is calculated so the payout wouldn’t be exactly $120. But still, a $100 return on a $2 bet is amazing odds.

Whether it’s a huge race or an unexpected win, an Exacta payout usually gives a decent return, which is why it’s one of the most popular bets.

What Is An Exacta Bet

And They’re Off!

Well there you have it – an Exacta Bet!

The beginning of a horse race is so exciting because it’s anyone’s game. There’s no way to know which two horses are going to win. There’s always the possibility for a surprise win or a major upset. Whether you’re placing your first bet or you’re an old pro, at AmWager we want every bettor to be successful! That’s why we made our online betting platform so easy to learn and use. Even first time bettors will have no trouble navigating our platform. Sign up today to place your next winning bet.