An Exacta is a wager in which the bettor must select the first and second place finishers in a race in the exact order of their finish. It’s one of the most popular wagers in horse racing and can be an exciting way to win big.
What is the Payoff for an Exacta?
The payoff for an Exacta is determined by the pari-mutuel system. The pari-mutuel system is a method of betting where the final payoff is determined by the total pool of money wagered on the race. The more money that is wagered on the race, the more money that can be paid out in winnings.
How to Calculate an Exacta Payoff?
Calculating an Exacta payoff is a bit more complicated than calculating a win or place payoff. To calculate the exacta payoff, you need to first calculate the total pool of money wagered on the race. This can be done by adding up all the exacta wagers that were placed on the race.
Once you have the total pool of money, you need to subtract the takeout amount. The takeout amount is the percentage of the total pool of money that the racetrack takes out for their expenses. This amount varies from track to track, but is typically around 15-20%.
Once you have the total pool of money minus the takeout, you can calculate the exacta payoff by dividing the total pool of money by the total number of exacta combinations. This will give you the exacta payoff per $1 bet.
How to Place an Exacta?
Placing an exacta is relatively simple. All you need to do is select the horses you think will finish in the first and second position in a race and make your bet. You can place an exacta wager at the track or through an online betting site.
Types of Exacta Wagers
There are several different types of exacta wagers you can make. The most common type of exacta wager is the straight exacta, which requires you to select the first and second place finishers in exact order.
Other types of exacta wagers include the box exacta, which allows you to select as many horses as you want and if they finish first and second in any order, you win. You can also make a key exacta, which requires you to select one horse to finish first and two or more horses to finish in the second position.
What is an Exacta Box?
An exacta box is a type of wager in which you select two or more horses to finish in the first and second position in a race in any order. The cost of the wager is the amount of the individual wagers multiplied together. For example, if you are wagering on a two-horse box exacta, the cost of the wager would be $2 (the cost of one exacta divided by two).
What is an Exacta Key?
An exacta key is a type of wager in which you select one horse to finish in first place and two or more horses to finish in the second position in any order. The cost of the wager is the amount of the individual wagers multiplied together. For example, if you are wagering on a two-horse exacta key, the cost of the wager would be $4 (the cost of one exacta divided by two).
Advantages of an Exacta Wager
Exacta wagers have several advantages over other types of wagers. One of the biggest advantages is that it offers the potential for a higher payoff than a win or place wager. This is because the total pool of money wagered on the race is divided among fewer combinations, so the payout is higher.
Another advantage of an exacta wager is that it requires less skill than some other types of wagers. While picking the winner of a race is difficult, picking the first and second place finishers in an exact order isn’t as difficult. This makes the exacta wager a good option for novice bettors.
Disadvantages of an Exacta Wager
The main disadvantage of an exacta wager is that it requires a larger investment than a win or place wager. This is because the cost of the wager is the amount of the individual wagers multiplied together. For example, a two-horse exacta box would cost $2, whereas a two-horse win wager would only cost $1.
Another disadvantage of an exacta wager is that it can be difficult to hit. The chances of picking the first and second place finishers in exact order is much lower than picking just the winner of a race. This means that it can take a lot of wagers before you finally hit an exacta.
Tips for Betting Exactas
Do Your Research
Before you place an exacta wager, it’s important to do your research. Read up on the race and the horses that are running. Look at their past performances and make sure to consider any recent form changes. This will give you a better idea of which horses are most likely to finish in the first and second positions.
Bet on Value
When betting on exactas, it’s important to bet on value. This means that you should be looking to bet on horses that offer a good payoff but are still likely to finish in the first and second positions. Don’t be afraid to take a chance on a long shot if it offers good value, but make sure to balance it out with a few favorites to increase your chances of winning.
Spread Your Bets
It’s also important to spread your bets. Don’t just bet on one exacta wager. Instead, try to spread your money around and bet on several different combinations. This will increase your chances of hitting an exacta and will also reduce the amount of money you need to win in order to make a profit.
Conclusion
Exacta wagers can be a great way to win big in horse racing. They offer the potential for a higher payoff than win or place wagers and require less skill than other types of wagers. However, it’s important to do your research and bet on value in order to increase your chances of winning. By following these tips, you can maximize your chances of hitting an exacta and winning big.