How To Play Exacta In Horse Racing
The best ways to wager on exactas and the proper strategy.
Horse Racing Exacta Calculator
An Exacta Wager (or in some areas it is called a Perfecta) involves picking two horses that you believe will finish first and second. Because you must select two horses, this wager is generally harder to hit than a straight wager, but usually pays greater dividends when you do hit it. Let’s talk about exacta wagering.
A common way to play an Exacta would be a $2 Exacta box. If you liked the #1 and #2 horse, a $2 Exacta box would cost $4. If those two horses ran first and second in either order, you win.
If you like the #1 horse to beat the #2 horse, you can play a $2 Exacta straight #1-#2 for $2, but remember it must come in exactly as played. As you get more familiar with wagering there are a number of different ways to play exactas.
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If you like the #1 to win and can’t decide between the #2,#3 or #4 horse to finish second, you can play a $2 Exacta key of #1 over #2,#3,#4. The cost of this wager would be $6. As long as the #1 wins and either the #2,#3, or #4 runs second, you have hit the Exacta!
The Exacta Key
For example, if you were to play a $1 exacta wheel with a 'key' horse of #3 to come first, the #3 horse would have to win and any of 1,2,4,5,6,7,8 would have to finish second in order for you to cash your ticket. Or, if you think the 'key' horse #3 has a better chance of finishing second, you might play a.
- The Fair Payoff for an Exacta equals the size of the bet, such as a $2 Exacta, multiplied by the (win horse's odds-to-1) multiplied by the (place horse's odds-to-1 plus 1). The odds are each.
- For starters, an exacta can be a simple wager. If you like two horses equally, you can just box them in the exacta and collect so long as they finish 1-2 in any order. If you like one of them a little more, you can then bet more on the one you prefer, say $10 on a 1-2 exacta and $5 on 2-1.
If you can’t decide between the #1 and #2 to win the race you can play an Exacta key using both on top of your ticket. If you also think that the #3,#4 have chances to land in the Exacta, a good way to play the race would be:
A $2 Exacta key #1,#2 over #1,#2,#3,#4. This wager would cost $12 and would hit as long as either the #1 or #2 won the race, and any of your four contenders finished in the runner-up spot.
Exacta payoffs can vary greatly. If your two contenders are the favorites in the race it could pay less than $10, or in a larger field could return $35 or more. Find a couple of longshots that both finish in the Exacta and the payoff could be over $1,000.
Most tote boards have probable payoffs, as do the television monitors at the track. Some online tote boards also show probable payoffs.
Before getting too fancy with Exacta keys and using multiple horses in the two slots, get familiar with the types of payoffs you can expect to receive if you win.
Horse Racing Betting Explained
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
Exacta Bet In Horse Racing
- 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)
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.
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.
Horse Racing Exacta Systems
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.
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.