An Exacta box is a type of wager in horse racing in which the bettor must select the top two finishers in a race in exact order. It is a type of pari-mutuel bet, meaning the payoff is determined by the pool of money bet on the race. Exacta boxes are popular in horse racing as they allow bettors to cover a broad range of outcomes with a single wager.
How Does an Exacta Box Work?
When placing an Exacta box bet, the bettor selects two or more horses in the race and combinations of those horses are combined. For example, when selecting two horses, the bettor will have three possible combinations: Horse A to win and Horse B to place, Horse B to win and Horse A to place, and both horses to finish first and second.
The bettor will pay a certain amount for each combination, with the amount varying based on the number of horses selected and the amount of money wagered. The amount wagered must be equal for all combinations, and the total cost of the wager will be the amount wagered multiplied by the number of combinations.
How to Calculate an Exacta Box
Calculating an Exacta box can be a complicated process, but it is important to understand how it works in order to make informed wagers. Here are the steps to calculate an Exacta box:
Step 1: Select Horses
The first step to calculating an Exacta box is to select two or more horses in the race. It is important to consider the horses’ past performances, form, and other factors when making your selection.
Step 2: Calculate the Cost
The next step is to calculate the cost of the Exacta box. This can be done by multiplying the amount you are willing to wager by the number of combinations of horses you have selected. For example, if you are wagering $2 and have selected two horses, the cost of the Exacta box will be $4 ($2 x 2 combinations).
Step 3: Select Your Wager Type
Once you have calculated the cost of your Exacta box, you can select the type of wager you wish to make. The most common wager types are straight, boxed and wheeled.
Straight: This type of wager requires you to select the exact order in which the horses will finish. The cost of the wager is the amount wagered multiplied by the number of combinations.
Boxed: This type of wager allows you to select multiple combinations of horses and will pay out if any of the combinations finish in the top two spots. The cost of the wager is the amount wagered multiplied by the number of combinations.
Wheeled: This type of wager is similar to a boxed wager, but it allows you to select more than two horses and provides the flexibility to select combinations of horses in different orders. The cost of the wager is the amount wagered multiplied by the number of combinations.
Step 4: Calculate the Payoff
Once the race is completed, the payoffs for the Exacta box wagers can be calculated. The payoffs are determined by the total amount of money wagered on the race and the number of winning combinations.
The amount of the payoff is determined by subtracting the track’s take (usually around 15%) from the total amount of money wagered on the race. The remaining amount is divided by the number of winning combinations to calculate the payoff.
Advantages of an Exacta Box
Exacta boxes provide bettors with a number of advantages, including the ability to cover multiple combinations with a single wager and the potential for larger payoffs. Here are some of the advantages of an Exacta box:
Flexibility
Exacta boxes provide bettors with the flexibility to cover multiple combinations with a single wager. This allows bettors to cover a broad range of possible outcomes with a single bet, increasing the chances of a winning wager.
Potential for Larger Payoffs
Exacta boxes also have the potential to provide larger payoffs than other wagers. This is because the payoffs are determined by the total amount of money wagered on the race, so if there is a large amount of money bet on a race, the payoffs can be quite large.
Lower Risk
Exacta boxes also provide bettors with a lower risk than other types of wagers. This is because the cost of the wager is equal for all combinations, so if one combination is a loser, the bettor can still win with another combination.
Tips for Betting on an Exacta Box
Exacta boxes can be a great way to make money on horse racing, but it is important to understand how they work and make informed wagers. Here are some tips for betting on an Exacta box:
Do Your Research
It is important to do your research before placing a wager on an Exacta box. This includes researching the horses, taking into account recent form, past performances, and other factors.
Know the Track
It is also important to know the track you are betting on. Different tracks have different characteristics that can affect the outcome of a race. Knowing the track can help you make informed wagers.
Set a Budget
It is also important to set a budget for your wagers. It is easy to get carried away when betting on horse racing, so it is important to set a limit and stick to it.
Manage Your Bankroll
Managing your bankroll is also important when betting on an Exacta box. This involves setting a limit for how much you are willing to wager on a single race, and adjusting your wagers based on your bankroll.
Conclusion
Exacta boxes are a great way to make money on horse racing, but it is important to understand how they work and make informed wagers. By following the steps outlined above, you can calculate an Exacta box and have a better chance of winning.