An exacta bet is a form of pari-mutuel wagering on horse racing that requires the bettor to select the first and second place finishers of a race in the exact order. It is also known as a “Perfecta” or “Exactor” bet. Exacta wagers are popular because they offer the potential for higher payouts than other types of wagers.
Types of Exacta Bets
There are three types of exacta bets: the straight exacta, the boxed exacta, and the key exacta.
Straight Exacta
The straight exacta requires the bettor to select the first and second place finishers in the exact order. This type of bet is the most difficult to win, but it is also the most profitable.
Boxed Exacta
The boxed exacta allows the bettor to select the first and second place finishers in any order. This bet is easier to win, but the payouts are lower than those of the straight exacta.
Key Exacta
The key exacta is similar to the straight exacta, but the bettor must select the first place finisher, and then a group of horses for the second place finisher. If any of the horses in the group finish in second place, the bettor wins.
How to Place an Exacta Bet
Placing an exacta bet is relatively simple. The bettor must first select the track and race they wish to bet on. Next, the bettor must select the horses they believe will finish first and second in the race. The bettor then specifies the type of exacta bet they wish to place, and pays for the bet.
Odds and Payouts
The odds and payouts for exacta bets will vary based on the track and the type of bet being placed. Generally, the odds and payouts of a straight exacta will be higher than those of a boxed exacta or key exacta. The bettor should check the odds and payouts of a particular race before placing the bet.
Exacta Strategies
There are several strategies that bettors can use when placing an exacta bet. The following are some of the most common strategies:
Favorites Strategy
The favorites strategy involves selecting the two favorites in a race for the first and second place finishers. This strategy is relatively safe, but it offers lower payouts than other strategies.
Longshots Strategy
The longshots strategy involves selecting two longshots in a race as the first and second place finishers. This strategy is riskier, but it offers the potential for higher payouts.
Key Exacta Strategy
The key exacta strategy involves selecting one horse to finish first, and then selecting a group of horses to finish second. This strategy is the safest, as it allows the bettor to win even if the selected horse does not finish first.
Frequently Asked Questions
Q: How much does an exacta bet cost?
A: The cost of an exacta bet will vary based on the track and type of bet being placed. Generally, a straight exacta will cost more than a boxed exacta or key exacta. The bettor should check the cost of a particular race before placing the bet.
Q: What is the minimum amount I can bet on an exacta?
A: The minimum amount that can be bet on an exacta will vary based on the track and type of bet being placed. Generally, the minimum amount is $2, though some tracks may have a lower minimum amount. The bettor should check the minimum amount at the track they are betting at before placing the bet.
Q: What is the maximum amount I can bet on an exacta?
A: The maximum amount that can be bet on an exacta will vary based on the track and type of bet being placed. Generally, the maximum amount is $2,000, though some tracks may have a higher maximum amount. The bettor should check the maximum amount at the track they are betting at before placing the bet.
Conclusion
An exacta bet is a form of pari-mutuel wagering on horse racing that requires the bettor to select the first and second place finishers of a race in the exact order. There are three types of exacta bets: the straight exacta, the boxed exacta, and the key exacta. Placing an exacta bet is relatively simple, and the odds and payouts of a particular race should be checked before placing the bet. There are several strategies that bettors can use when placing an exacta bet, such as the favorites strategy, the longshots strategy, and the key exacta strategy. The cost, minimum amount, and maximum amount of an exacta bet will vary based on the track and type of bet being placed.