An exacta bet, also known as a perfecta or an exactor, is a type of wager based on the outcome of a horse race. It requires the bettor to correctly predict the top two horses in a race in the exact order of their finish. Exacta betting is one of the most popular forms of horse racing bets, as it offers the potential for big payouts for a relatively low investment.
How to Calculate an Exacta Bet?
Calculating an exacta bet is relatively straightforward. The amount of the wager is multiplied by the odds of the two horses in the exact order of their finish, which then yields the payout if the bet is successful. The formula for calculating an exacta bet is as follows:
Wager Amount x (Odds of Horse 1/ Odds of Horse 2) = Payout
Let’s say you make a $2 exacta bet on a race where Horse 1 is listed at odds of 6-1 and Horse 2 is listed at odds of 3-1. The calculation would look like this:
$2 x (6/3) = $4
If your bet is successful and the two horses finish in the exact order you predicted, you would be paid out a total of $4.
Types of Exacta Bets
There are a few different types of exacta bets that can be placed. The most common types of exacta bets are straight exacta bets, box exacta bets, and key exacta bets.
Straight Exacta Bet
A straight exacta bet involves the bettor correctly predicting the top two horses in a race in the exact order of their finish.
Box Exacta Bet
A box exacta bet allows the bettor to predict the top two horses in a race without having to specify the exact order of their finish. This type of bet increases the chances of winning, but it also means the payout will be lower.
Key Exacta Bet
A key exacta bet is similar to a box exacta bet, but it requires the bettor to pick one horse to finish in first place and then multiple horses to finish in second. This type of bet also increases the chances of winning, but the payout is usually lower than with a straight exacta bet.
Pros and Cons of Exacta Betting
Exacta betting can be a fun and profitable way to wager on horse races. However, there are both advantages and disadvantages to consider before placing an exacta bet.
Pros of Exacta Betting
- Potential for Big Payouts: Exacta bets offer the potential for big payouts on a relatively low investment.
- Lower Risk: Exacta bets are considered to be lower risk than other types of wagers, such as trifecta or superfecta bets.
- Easy to Calculate: Calculating an exacta bet is relatively straightforward, which makes it easy to understand.
Cons of Exacta Betting
- Difficult to Predict: Exacta bets require the bettor to correctly predict the top two horses in a race in the exact order of their finish, which can be difficult to do.
- Cannot Spread Risk: With an exacta bet, the bettor cannot spread their risk by betting on multiple horses. They must be confident in their selection of the top two horses.
- Lower Payouts: Exacta bets generally have lower payouts than trifecta or superfecta bets.
Tips for Exacta Betting
If you’re new to exacta betting, here are a few tips to help increase your chances of success:
- Do Your Research: It’s important to do your research and understand the horses in the race, the track conditions, and the betting odds.
- Look for Value: Look for value in the betting odds and try to find two horses that offer a good return on your investment.
- Spread Your Risk: If you’re feeling uncertain about a race, you can box your exacta bet, which allows you to spread your risk over multiple horses.
Exacta betting is a popular form of horse racing wager that can be a fun and profitable way to bet on races. It requires the bettor to correctly predict the top two horses in a race in the exact order of their finish, which can be difficult to do. However, by doing your research and looking for value in the betting odds, you can increase your chances of success.