An exacta bet is one of the most popular types of horse racing bets. It’s a bet where the bettor must pick the first and second place finishers in a race in the exact order. An exacta bet is also sometimes called a “perfecta” or “exactor” bet.
What Does a $1 Exacta Pay?
A $1 exacta bet pays out based on the amount of money bet on the race. The exacta payout is determined by combining the winning horses’ odds and the amount of money bet on each horse.
The minimum exacta payout is usually $2. If the winning horses’ odds are low, the exacta payout will be less than $2. The maximum exacta payout varies from track to track, but it is typically in the hundreds or thousands of dollars.
How to Calculate an Exacta Payout
To calculate an exacta payout, first find the odds of the winning horses. For example, if the first-place horse has odds of 3-1 and the second-place horse has odds of 5-1, then the exacta payout will be calculated as follows:
- Multiply the first-place horse’s odds (3-1) by the second-place horse’s odds (5-1): 3 x 5 = 15
- Divide the total (15) by the amount bet ($1): 15 / 1 = 15
- The exacta payout is 15-1, or $15 for every $1 bet.
Types of Exacta Bets
Straight Exacta: A straight exacta bet is a bet on two horses to finish first and second, in exact order, in one race.
Boxed Exacta: A boxed exacta bet allows the bettor to pick two or more horses to finish first and second, in any order. The bettor must still pick the same two horses to win and place, but the order of finish does not matter.
Key Exacta: A key exacta bet is an exacta bet on one horse to win and one or more horses to place. The bettor must pick the exact order of finish for the horses chosen to win and place.
Advantages of Exacta Bets
Exacta bets offer several advantages over other types of horse racing bets.
- The potential payouts are higher than with other types of races. An exacta bet can offer payout ratios of 10-1 or higher.
- The bettor has more control over the outcome of the race. With a boxed exacta bet, the bettor can pick multiple combinations of horses to finish first and second.
- Exacta bets are less risky than other types of horse racing bets, since the bettor only needs to pick two horses to win and place.
Disadvantages of Exacta Bets
- The payouts are usually lower than with other types of bets. The exacta payout is usually lower than the payout for a trifecta or superfecta bet.
- The bettor must have a good understanding of the horses running in the race in order to make an accurate prediction.
- The bettor must pick the exact order of finish for the two horses chosen to win and place. If the bettor does not pick the exact order of finish, the bet will be a losing bet.
Tips for Making Exacta Bets
Making successful exacta bets requires research, skill and luck. Here are some tips to help you increase your chances of making a winning bet:
- Do your research. Take the time to research the horses running in the race and their past performances. This will give you a better understanding of the field and the chances of each horse winning.
- Focus on the favorites. The favorite horses are usually the ones with the best chance of winning. Focus on these horses when making an exacta bet.
- Pay attention to the odds. The odds can give you an indication of which horses are more likely to win. Favorites usually have lower odds, while longshots usually have higher odds.
- Consider boxed exacta bets. A boxed exacta bet gives you more flexibility in picking the horses to win and place. This can give you a better chance of winning.
- Keep your bets small. Exacta bets can be expensive, so it’s best to keep your bets small. This will allow you to spread your money across multiple bets.
Conclusion
A $1 exacta bet pays out based on the amount of money bet on the race. The exacta payout is determined by combining the winning horses’ odds and the amount of money bet on each horse. Making successful exacta bets requires research, skill and luck. It’s best to research the horses running in the race and focus on the favorites when making an exacta bet. A boxed exacta bet gives you more flexibility in picking the horses to win and place, which can increase your chances of winning.