What’s a Exacta Bet?
Exacta gambling requires you to select the first two finishers in a race in exact order — thus the title exacta. Also called some tracks as the exactor or perfecta, exactas are appealing betting propositions to many players because of the potential for large payoffs. Exacta wagering also offers an opportunity to create a fantastic profit on race in which a heavy favorite makes win gambling a bad value proposition.
Whereas a horse might just pay $5 to win to get a $2 wager, an exacta mixing that winner using a longshot may pay substantially more. Many players like to bet exactas not simply due to the prospect of high payoffs, but also since the tote board at most racetracks will demonstrate the probable exacta payoffs prior to a race runs. Having the ability to see 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 option used by many bettors when their handicapping can not separate the winner from their top contenders.
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There are essentially three distinct exacta wagering choices, some more effective than others.
Straight Exacta Betting
The very first exacta wagering alternative is the right exacta wager, generally offered in minimum denominations of 2. A $2 straight exacta bet 3-4 will require that horse win the race and horse 4 finish second to allow one to cash a winning ticket.
The next and hottest exacta wagering strategy is the exacta box combining two or more horses to finish first or second in order. Generally provided in a minimum denomination of $1, an exacta box of horses 3-4 would represent 2 possible combinations — 3-4 and 4-3, in a cost of $2. The cost of a $1 exacta box descends directly to the number of horses and potential combinations in the box.
For instance, a $1 exacta box of 3 horses (2-3-4) represents 6 potential $1 winning combinations which have 2-3, 2-4, 3-4, 3-2, 4-2 and 4-3. While any one of these combinations would allow you to cash a ticket, remember that your payout would be only half of the actual $2 straight exacta payout, since you played with a $1 box.
A box could be played in any denomination of $1 or more, but the greater the denomination played, the higher the price. A $2 exacta box of the exact same 3 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 wish to ship and multiply that number by the amount of horses at the box minus 1. A $1 exacta box of four horses could be computed as 4 (4-1) * $1 = $12, which equates to 12 $1 exacta bets.
Below are some added 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, however this isn’t normally a wise gambling strategy simply because each one the horses in the box don’t have exactly the identical prospect of finishing first or second.
Generally, but not all circumstances, exacta boxes represent bad value, but since they are comparatively easy to comprehend, mentally easier to perform (you don’t have to select the horses in exact order) and also offer the greatest probability of cashing a ticket (even at a loss), they’re the most popular method of playing exactas.
Since exacta boxes rate each mix in the box as having the specific same probability of winning (that is never the case) they create inefficiencies in the exacta betting pools. It’s those inefficiencies that smart bettors search 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 1 horse) in one place with any number of horses at another place. By way of example, if you were to play with a $1 exacta wheel 3-with-All within an eight-horse area (3 with 1,2,4,5,6,7,8 — seven $1 combinations) it would cost you $1. 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 believe that the three horse has a better chance of finishing second, you could play with a $1 exacta wheel All-with-3 (1,2,4,5,6,7,8 with 3 — seven $1 combinations) at a price of $1. In this event any horse in the race could acquire and the three horse would have to finish second in order for one to cash a ticket.
Exactas may also be played as part-wheels, which differs from a full wheel in that you don’t use ALL the horses in one portion of this wheel. By way of instance, in an eight-horse field, you might play a $1 exacta part-wheel 3 with 4, 2, 5 (three potential winning combinations of 3-2, 3-4, 3-5) at a price of $3. Or you might play with the part-wheel the other way, 4, 2, 5 with 3 (additionally three possible winning combinations of 2-3, 4-3, 5-3) at a price of $3. While exacta wheels and part-wheels are not quite as ineffective as boxes, they still leave room for improvement, which brings us into our preferred exacta betting strategy.
Preferred Exacta Betting Strategies Let us say you enjoy horses 5, 6 and 7 to finish first or second in a hurry. Your handicapping lets you know that horse 5 includes a 50 percent probability of winning the race, horse 6 includes a 20 percent chance of winning and horse 7 includes a 10 percent probability of winning. Most bettors in this scenario would play an exactor box of 5-6-7 — six possible combinations. Other bettors may play an exactor part-wheel wheel of 5-with 7, 6 and an additional part-wheel of 7, 6 with 5 — four possible combinations. The exactor box rates each possible combination as having the exact same chances of winning, which based on your handicapping is not correct. The part-wheel in this case is much more effective, leaving the probable mixtures of 6-7 and 7-6, but nevertheless score both the 6 and 7 horses as having the same probability of winning or finishing second.
Considering that you have $60 to spend and that you have ranked the Odds of each horse winning as follows: 5% — 50 percent, 6-20%, 7-10%, below are some potential betting options:
Exacta Box — Least Efficient
$10 exacta box 5-6-7 = 6 possible combinations bet 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 — 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 according to Your Handicapping — Highly Efficient
$30 exacta 5-6
$20 exacta 5-7
$6 exacta 6-5
$4 exacta 7-5
Results and Exacta Payoffs
The race conducted exactly as your handicapping stated it would — the 5 horse won along with the 6 horse ran next. The $2 exacta 5-6 paid $20. Lucky you! Depending on the way you bet.
In the Event That You had bet the first option, the exacta box:
Price: $60 Yield: $10 exacta 5-6 = $100 – $60 = 40 Profit If you had bet the second option, the exacta part-wheels:
Cost: $60 Yield: $15 exacta 5-6 = $150 – $60 = 90 Gain In the Event That You had bet the next option — exacta part-wheels correlated to winning probabilities as identified with your handicapping:
Price: $60 Yield: $30 exacta 5-6 = $300 – $60 = 240 Profit The final exacta wagering strategy, which places more money on the greater probability mixes as identified by your handicapping, produces the largest profit — which is the key to creating a favorable return on investment over the long term. While you might cash more tickets using the ineffective exacta box method, it is not likely that this low-profit approach will sustain itself over the long haul.
Keeping 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 favorable return on investment by focusing on your play races in which your handicapping points to the higher probability of two medium-priced horses finishing the exacta. The latter scenario often results in payoffs which are bigger 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, then focusing your main exacta mixes on the most likely outcomes, instead of on wheels and boxes, is the real key to making a long-term gain from exacta betting.
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