What’s a Exacta Bet?

Exacta gambling requires you to pick the first two finishers in a race in exact order — thus the name exacta. Also known at some monitors as the exactor or perfecta, exactas are appealing betting propositions to a lot of players because of the prospect of large payoffs. Exacta wagering also offers an chance to create a fantastic profit on race where a heavy favourite makes win betting a bad value proposition.

Whereas a horse might only pay $5 to win for a $2 bet, an exacta mixing that winner using a longshot may pay substantially more. Many players like to bet exactas not simply due to the potential for high payoffs, but also because the tote board at most racetracks will demonstrate the probable exacta payoffs prior to a race runs. Being able to see what you can win in front of a race runs is a really appealing option to many bettors. Furthermore, exacta boxes of two or more horses are an alternative used by many bettors when their handicapping can’t separate the winner from their top contenders.

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There are essentially three different exacta wagering choices, some more efficient than others.

Straight Exacta Betting

The very first exacta wagering option is that the straight exacta wager, generally offered in minimum denominations of 2. A $ two straight exacta wager 3-4 will require that horse 3 win the horse and race 4 complete second in order for you to cash a winning ticket.

Exacta Boxes

The second and hottest exacta wagering strategy is an exacta box combining two 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 represent 2 possible combinations — 3-4 and 4-3, at a price of $2. The cost 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) signifies 6 possible $1 winning combinations which include 2-3, 2-4, 3-4, 3-2, 4-2 and 4-3. While one or more one of these combinations would allow you to cash a ticket, then remember that your payout will be only half the real $2 directly exacta payout, because you played a $1 box.

A box can be played in almost any denomination of $1 or more, but the greater the denomination played, the higher the cost. A $2 exacta box of the same 3 horses (2-3-4) would cost $12, twice as much as a $1 exacta box, but would also offer the full $2 exacta payout as displayed on the tote board.

To ascertain the price of a $1 exacta box afford the number of horses you wish to box and multiply that amount 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 combinations * $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 isn’t normally a wise betting strategy only because each one the horses at the box don’t have exactly the same prospect of finishing first or second.

Generally, but not all circumstances, exacta boxes represent bad value, but since they are comparatively simple to understand, mentally easier to play (you don’t need to select the horses in exact order) and also offer the greatest likelihood of cashing a ticket (even at a loss), they are definitely the most popular way of enjoying exactas.

Since exacta boxes speed each mix from the box as having the exact same probability of winning (that is not the case) they create inefficiencies from the exacta betting pools. It is these inefficiencies that smart bettors look for and attempt to take advantage of.

Exacta Wheels and Exacta Part-Wheels

The next way of playing exactas would be to wheel one horse (or more than one horse) in one place with any number of horses at the other position. For instance, if you were to play a $1 exacta wheel 3-with-All within an eight-horse area (3 with 1,2,4,5,6,7,8 — seven $1 mixtures ) it might cost you $7. The 3 horse would have to win and any of 1,2,4,5,6,7,8 would need to finish second to allow you to cash a ticket. Or, if you believe the 3 horse gets a better prospect of finishing second, you could play with a $1 exacta wheel All-with-3 (1,2,4,5,6,7,8 with 3 — again seven $1 combinations) at a price of $1. In this case any horse in the race could acquire along with the 3 horse would need to finish second in order for one to cash a ticket.

Exactas may also be performed as part-wheels, which differs from a full wheel so that you do not use ALL the horses at 1 portion of the wheel. By way of example, in an eight-horse field, you might 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 the other way, 4, 2, 5 with 3 (additionally three potential winning combinations of 2-3, 4-3, 5-3) at a price of $3. Even though exacta wheels and part-wheels aren’t quite as ineffective as boxes, they still leave room for improvement, which brings us into our preferred exacta gambling strategy.

Preferred Exacta Betting Plans Let’s say you enjoy horses 5, 7 and 6 to finish first or second in a hurry. Your handicapping tells you that horse 5 has a 50 percent chance of winning the race, horse 6 has a 20 percent probability of winning and horse 7 has a 10 percent probability of winning. Most bettors in this situation would play with an exactor box of 5-6-7 — six possible combinations. Other bettors might play an exactor part-wheel wheel of 5-with 7, 6 and an extra part-wheel of 6, 7 with 5 — four possible combinations. The exactor box prices each possible combination as having the same probability of winning, which based on a handicapping isn’t correct. The part-wheel in this situation is more efficient, leaving the probable combinations of 6-7 and 7-6, but still rating both the 6 and 7 horses as having the same chance of winning or finishing second.

Considering you have $60 to spend and that you have ranked the chances of each horse winning as follows: 5 — 50%, 6-20 percent, 7-10 percent, below are some possible betting options:

Exacta Box — Least Efficient

$10 exacta box 5-6-7 = 6 possible combinations wager in equal percentage = $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 — More Efficient

$15 exacta part wheel 5 with 6, 6 and 7, 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 conducted exactly as your handicapping stated it would — the 5 horse won along with the 6 horse ran second. The $2 exacta 5-6 paid $20. Lucky you! Depending on the way you bet.

If you had bet the first choice, the exacta box:

Cost: $60 Yield: $10 exacta 5-6 = $100 – $60 = 40 Gain In the Event That You had bet the next option, the exacta part-wheels:

Cost: $60 Yield: $15 exacta 5-6 = $150 – $60 = 90 Profit If you had bet the third option — exacta part-wheels correlated to winning probabilities as identified with your handicapping:

Cost: $60 Return: $30 exacta 5-6 = $300 – $60 = $240 Profit The concluding exacta wagering strategy, which puts more income on the greater probability mixes as identified with your handicapping, produces the largest profit — that is the key to producing a positive return on investment over the long term. As you might money more tickets using the inefficient exacta box method, it is not likely that this low-profit approach will sustain itself over the long haul.

Keeping in mind that combinations of favorites in exactas generally create lower payoffs than they need to, as do blends of longshots, it’s possible to further boost you chances of achieving a positive return on investment by focusing on your drama races where your handicapping points to the high probability of 2 medium-priced horses finishing the exacta. The latter scenario often results in payoffs that are larger than they should be a result of inefficiencies in the exacta betting pools.

In summary, using solid handicapping fundamentals to ascertain your own set of probabilities, then focusing your main exacta combinations on the most probable results, rather than on wheels and boxes, is the key to making a lasting gain from exacta gambling.

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