An exacta bet is a high-stakes, highly rewarding bet that is considered one of the several exotics when it comes to horse race betting. If you are interested in horse racing, you should probably try your luck with exacta bets. Throughout this guide you will learn about what an exacta bet is, the types of exacta bets, and how to place these exacta bets.
What is an exacta bet?
An exacta bet is a horse race bet that requires you to predict the top two finishers in the horse race in the exact order. To win, your selected horses must cross the finish line precisely in 1st and 2nd place; any other combination or incorrect order results in you losing the bet. The allure of the exacta bet lies in its potential for substantial payouts, making it the popular choice among horse racing bettors.
This versatile bet can be applied to various types of races, including flat and national hunt (jumps) events. Most reputable racebooks and race betting sites offer the exacta betting options on all hosted races.
Types Of Exacta Bet
A traditional exacta bet involves selecting two horses to cross the finish line in first and second place, in the precise order. However, there are modified versions of this bet that offer flexibility and alternative strategies, which are the variations of the exacta bet, and there:
- Straight Exacta
- Box Exacta
- Key Exacta
- Part Wheel Exacta
- Full Wheel Exacta
- Standout Exacta
- Combination Exacta
- Fractional Exacta
Straight Exacta
Straight exacta is the standard version of exacta bet. It involves selecting two horses from the same race to finish in the top two positions, with the specific requirement that they must cross the finish line in the exact order that you have chosen—first, second, respectively.
Box Exacta
The box exacta, also known as a quinella bet, offers a more flexible approach to exacta betting. By placing a single bet, you are covering both possible combinations of your two selected horses finishing in the top two positions. This means you can cross the finish line in either order—your pick can win and others finish in the second, or vice versa. The box exacta requires you to place two bets, but it increases your chances of winning by allowing the possibility of both outcomes.
Key Exacta
The key exacta is a strategic bet that allows you to focus on a single horse to win while hedging your bets on the second-place finisher. You choose one horse as the primary winner and then select one or multiple horses to finish second. The key horse must win, but the second-place finisher can be any of the horses you have selected. The more horses you can choose for the second place, the more combinations you will need to bet; it will increase your take.
Part Wheel Exacta
A part-wheel exacta is a bet that allows you to cover multiple scenarios while maintaining some precision. You select one or more horses to fill the remaining position. For instance, you might anchor a horse to finish 2nd and then select three other horses too to win the race.
Full Wheel Exacta
A full-wheel exacta provides the most extensive coverage possible, ensuring that all potential combinations of your selected horses are accounted for. For instance, if you choose four horses, a full-wheel exacta will cover every possible finisher combination, with each of your horses considered for both 1st and 2nd place. This means you will have multiple bets in play, covering all the possible 12 possible combinations (4 horses and 3 remaining horses).
Standout Exacta
A standout exacta is a targeted bet that allows you to pinpoint a single horse to win the race while giving you flexibility with the second-place finisher. You choose one horse as a standout winner and then select multiple horses that must win, but the second-place finisher can be any of the horses that you have selected.
Combination Exacta
A combination exata involves placing multiple bets on various combinations of horses to finish in 1st and 2nd. This bet type provides extensive coverage across the field, allowing you to hedge your bets and increase the chance of winning. Each combination requires a separate bet. While spreading the risk, you are also increasing the cost that is required for betting.
Fractional Exacta
A fractional exacta is an extension of the box exacta, offering even more flexibility in your betting strategy. This type of bet allows you to select a varying number of horses for each position, providing more coverage in one area while maintaining focus in another. For instance, you might choose three horses to finish 1st and four horses to finish 2nd or vice versa. This flexibility lets you set your bets according to your confidence in each horse’s performance.
Things to keep in mind while placing exacta bets
- The exacta market requires you to predict two events: the horse that finishes in the 1st and the horse that finishes in the second. To succeed, you need to estimate the likelihood of these events occurring. While odds can serve as a starting point, they show the probability of each horse winning. Start researching and selecting a horse that has a high chance of winning. Then look for the next best one. Finding these horses requires a lot of research and knowledge about horse racing and also the history of these horses.
- Now you know the various bet types of exacta, including the wheel and part wheel bets. But while betting, it is important to know what bet to place when To maximize the value. Consider a part-wheel exacta bet in a seven-horse race, where you choose two horses to finish first and three horses to finish second. With a $1 exacta bet, the total bet would be $6. If your selected horse has odds of 4/1 and 5/1 to win, and payouts for all combinations range from $15 to $30, the maximum return on your $6 bet would be $30. However, if you are very confident in your horse, you should consider a key exacta bet instead. You should learn what bet to place after analyzing the race.
- Exacta betting allows you to cover multiple outcomes at the same time and generate a profit. Adjusting your stake to the difference in outcome can be a great overlooked strategy. Consider a race with two strong contenders and a longer-shot horse. You believe the two favorites, priced at 3/1 and 4/1, have a high chance of finishing first and second, while the longer-shot horse priced at 15/1 has a smaller but still plausible chance of placing second. To maximize your return, set the bet accordingly. For example, if you are betting $12, put $8 on the 3/1 and 4/1 exacta combination, and $4 on the 3/1 and 15/1 combination.
Conclusion
Now you know all about exacta betting, what an exacta bet is, and the types of exacta bets that are there to be placed, along with how to place them. Carefully consider the tips that we have mentioned in this article too while placing the bet.
Read More: Are Blackjack Odds Better With More Players?
