What is a Exacta Bet?
Exacta betting requires you to select the first two finishers in a race in exact order — thus the name exacta. Also called some monitors as the exactor or even perfecta, exactas are appealing betting propositions to many gamers due to the prospect of large payoffs. Exacta wagering also provides an opportunity to create a fantastic profit on race in which a heavy favourite makes win betting a bad value proposition.
Whereas a horse might just pay $5 to acquire to get a $2 wager, an exacta mixing that winner using a longshot could pay more. Some players like to bet exactas not only due to the potential for high payoffs, but also since the tote board at most racetracks will demonstrate the probable exacta payoffs before a race runs. Having the ability to find out what you can win in front of a race runs is a really appealing option to many bettors. Additionally, exacta boxes of two or more horses are an alternative used by many bettors when their handicapping can’t distinguish the winner from their top contenders.
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There are essentially three distinct exacta wagering choices, some more efficient than others.
Straight Exacta Betting
The first exacta wagering alternative is that the straight exacta bet, generally offered in minimum denominations of 2. A $ two straight exacta wager 3-4 would require that horse win the horse and race 4 finish second in order for one to cash a winning ticket.
Exacta Boxes
The next and most popular exacta wagering strategy is an exacta box combining 2 or more horses to finish first or second in either order. Generally offered in a minimum denomination of $1, an exacta box of horses 3-4 would signify 2 possible combinations — 3-4 and 4-3, at a cost of $2. The expense of a $1 exacta box descends directly to the number of horses and possible combinations from the box.
For instance, a $1 exacta box of 3 horses (2-3-4) represents 6 potential $1 winning mixtures which include 2-3, 2-4, 3-4, 3-2, 4-2 and 4-3. While any of these combinations would allow you to cash a ticket, then keep in mind that your payout would be half the actual $2 directly exacta payout, because you played a $1 box.
A box could be played in almost any denomination of $1 or more, however the higher the denomination played, the higher the price. A $2 exacta box of the exact same three horses (2-3-4) would cost $12, twice as much as a $1 exacta box, but would also offer you the full $2 exacta payout as shown on the tote board.
To determine the price of a $1 exacta box afford the amount of horses that you want to ship and multiply that number by the amount of horses in the box minus 1. A $1 exacta box of four horses would be calculated as 4 * (4-1) * $1 $12, which equates to 12 $1 exacta bets.
Below are some additional exacta box calculations with prices:
$1 exacta box of 3 horses = 3 * (3-1) = 6 mixtures * $1= $6 $1 exacta box of 4 horses = 4 * (4-1) = 12 combinations * $1 = $12
$1 exacta box of 5 horses = 5 * (5-1) = 20 combinations * $1 = $20
$1 exacta box of 6 horses = 6 * (6-1) = 30 mixes * $1 = $30
$1 exacta box of 7 horses = 7 * (7-1) = 42 mixtures * $1 = $42
$1 exacta box of 8 horses = 8 * (8-1) = 56 combinations * $1 = $56
You can box as many horses as you like in an exacta, but this is not normally a wise betting strategy simply because each one of the horses at the box do not have exactly the identical chance of finishing first or second.
Generally, but not most cases, exacta boxes represent bad value, but since they are relatively simple to understand, emotionally easier to perform (you do not have to pick the horses in exact order) and also supply the greatest probability of cashing a ticket (even at a loss), they’re definitely the most popular way of playing exactas.
Because exacta boxes speed each combination in the box as using the exact same odds of winning (that is not true ) they create inefficiencies in the exacta betting pools. It is those inefficiencies that smart bettors look for and try to make the most of.
Exacta Wheels and Exacta Part-Wheels
The third method of playing exactas would be to wheel a single horse (or more than one horse) at one position with almost any number of horses in the other position. By way of instance, if you were to play with a $1 exacta wheel 3-with-All in an eight-horse field (3 with 1,2,4,5,6,7,8 — seven $1 mixtures ) it would cost you $7. The three horse would have to win and some of 1,2,4,5,6,7,8 would need to finish second in order for one to cash a ticket. Or, if you think that the 3 horse has a better prospect of finishing second, you could play a $1 exacta wheel All-with-3 (1,2,4,5,6,7,8 with 3 — again seven $1 combinations) at a price of $7. In this case any horse at the race could acquire along with the three horse would need to finish second in order for one to cash a ticket.
Exactas can also be played as part-wheels, which differs from a complete wheel in that you do not use ALL the horses at one part of the wheel. By way of instance, in an eight-horse area, you could play with a $1 exacta part-wheel 3 with 2, 4, 5 (three potential winning combinations of 3-2, 3-4, 3-5) in a cost of $3. Or maybe you play the part-wheel another way, 4, 2, 5 (additionally three potential winning combinations of 2-3, 4-3, 5-3) in a cost of $3. Even though exacta wheels and part-wheels aren’t quite as inefficient as boxes, they still leave room for advancement, which brings us to our preferred exacta betting strategy.
Preferred Exacta Betting Strategies Let’s say you like horses 5, 7 and 6 to finish first or second in a hurry. Your handicapping tells you that horse 5 has a 50 percent probability of winning the race, horse 6 has a 20 percent probability of horse and winning 7 has a 10 percent chance of winning. Most bettors in this scenario would play an exactor box of 5-6-7 — six possible combinations. Other bettors might play with an exactor part-wheel wheel of 5-with 6, 7 and an extra part-wheel of 6, 7 with 5 — four possible combinations. The exactor box prices each potential combination as having the exact same probability of winning, which according to your handicapping isn’t accurate. The part-wheel in this case is more efficient, leaving the less probable combinations of 6-7 and 7-6, but nevertheless score both the 6 and 7 horses as with the exact same probability of winning or finishing second.
Considering that you have $60 to spend and that you have rated the chances of each horse winning as follows: 5 — 50%, 6-20 percent, 7-10%, below are a few potential betting choices:
Exacta Box — Least Efficient
$10 exacta box 5-6-7 = 6 possible combinations wager in equal proportion = $60
Resulting Exacta Tickets
$10 exacta 5-6 = $10 $10 exacta 5-7 = 10 $10 exacta 6-5 = 10 $10 exacta 6-7 = $10 $10 exacta 7-5 = 10 $10 exacta 7-6 = $10 Exacta Part-Wheels — Slightly More Efficient
$15 exacta part wheel 5 with 6, 7 and 6, 7 with 5 = 4 possible combinations = $60
Resulting Exacta Tickets
$15 exacta 5-6 = $15 $15 exacta 5-7 = 15 $15 exacta 6-5 = 15 $15 exacta 7-5 = 15 Exacta Part-Wheels Correlated to Winning Probabilities as Identified by Your Handicapping — Highly Efficient
$30 exacta 5-6
$20 exacta 5-7
$6 exacta 6-5
$4 exacta 7-5
Outcomes and Exacta Payoffs
The race ran exactly as the handicapping said it would — the 5 horse won along with also the 6 horse ran second. The $2 exacta 5-6 paid $20. Lucky you! Based on how you bet.
In the Event That You had bet the first option, the exacta box:
Cost: $60 Yield: $10 exacta 5-6 = $100 – $60 = 40 Profit If you had bet the second choice, the exacta part-wheels:
Cost: $60 Yield: $15 exacta 5-6 = $150 – $60 = $90 Gain If you had bet the next option — exacta part-wheels associated with winning probabilities as identified by your handicapping:
Price: $60 Return: $30 exacta 5-6 = $300 – $60 = $240 Profit The concluding exacta wagering strategy, which places more income on the greater probability combinations as identified by your handicapping, produces the most significant profit — which is the key to creating a favorable return on investment over the long run. As you might cash more tickets utilizing the ineffective exacta box method, it’s not likely that this low-profit approach will sustain itself over the long haul.
Bearing in mind that mixtures of favorites in exactas generally produce lower payoffs than they need to, as do combinations of longshots, it’s possible to further boost you chances of achieving a positive return on investment by focusing on your drama on races in which your handicapping points into the high probability of two medium-priced horses finishing the exacta. The latter situation often results in payoffs which are larger than they ought to be due to inefficiencies in the exacta betting pools.
In conclusion, using solid handicapping fundamentals to ascertain your own set of probabilities, and then focusing your main exacta combinations on the most likely outcomes, rather than on wheels and boxes, is the real key to creating a lasting gain from exacta betting.
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