An exacta bet, also sometimes known as a perfecta or “straight forecast”, is a wager on two horses to finish in first and second place in that exact order. The bet may also be referred to as an “exactor” in some places, but exacta is the most common term today.
As an example, a bettor may like the looks of Horse #2 and Horse #6 in a race and place a straight exacta on them to finish in that order. If Horse #2 finishes first and Horse #6 finishes second, the exacta wins. In any other outcome, the exacta loses.
The exacta is one of the more straightforward types of bets classified as “exotics” because it involves a wager on two or more horses.
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How to Place an Exacta Bet Online
Exacta horse bets are fairly easy to place online. Every horse racing betting site has its peculiarities, but they all tend to provide wagering platforms that make it straightforward for bettors to build custom wagers.
For example, the following screenshot shows that I have selected Race 3 at Penn National Race Course and used the options below the track name to choose an exacta, denoted as an “EX.” Below are options to key and box the bet, but I have selected “straight,” the simplest form of exacta betting. The screenshot also shows that I have selected a $2 wager and chosen Anotherworldinside and Uncaptured Grace as my first and second place finishers.
Some wagering interfaces throw a lot of information at bettors, so it can be disorienting at first. However, once bettors gain some familiarity with their racebooks, they’ll find it convenient to customize their wagers, track outstanding bets, and view relevant handicapping data.
Exacta Betting Vs. Quinella Wagering
Exacta bets are similar to quinellas, but they are not the same. The difference is that when placing an exacta in horse racing, the bettor must get the order of finish correct. In a quinella wager, the bettor only needs to pick two horses to finish in first and second place, but the order does not matter.
Thus, an exacta bet is more difficult to win relative to a quinella, but it also provides bigger potential payouts.
Straight Exacta Horse Racing Bet
The exacta we have discussed so far, and the example provided above, are classified as straight exacta bets – a simple wager on two horses to win in that exact order.
Bettors can “box” their exactas by adding additional horses and winning outcomes to increase both the odds of winning and the cost of the bet (more on that below). Every extra horse added to an exacta box increases its price, so bettors must balance the benefits of doing so against the added costs.
Exacta Box Horse Racing Bets
The practice of boxing an exacta bet involves covering all possible win combinations of two or more horses. Exacta box bets cost more money to place because bettors are essentially placing multiple bets at once.
Exacta box bets are popular because they still provide respectable payouts but provide more flexibility. A simple exacta box bet would be to pick two horses and cover two possible winning scenarios: Horse A finishing first and Horse B finishing second, or Horse A finishing second and Horse B finishing first.
A two-horse exacta box functions similarly to a quinella in that regard, but it will pay more in most situations. However, in some cases, such as the bettor preferring a horse with longer odds to win the race, a quinella may be the better play. When deciding whether to place an exacta box or a quinella, bettors should consider the potential payouts of each relative to the cost of the wager.
Exacta Bet FAQ
Mike Murphy is the founder of BettingUSA.com and has over 10 years of experience in the legal gambling industry. A regular attendee of industry trade shows and conferences, Mike is a strong proponent in the idea of a well regulated online betting industry.