An Exacta is the Tote or Pari Mutuel’s equivalent of a forecast. You must pick the first and second in a race to win an Exacta. You can perm as many runners as you wish (though this pushes the stakes considerably), and you must find the first two home in a race. These are generally available on every race, every day, as long as there are three or more runners.
How Exacta Betting Works
To start Exacta betting, it helps to know where you can place the bet. As mentioned above, the Tote will have the Exacta available at every window at a racecourse – it is also an easy bet to find on their website. There is a 50p minimum total stake on Exacta bets to consider when having a bet.
On track, find the racecard numbers of the horses you have selected to give to the cashier, making sure you let them know it is an Exacta bet you require. Online, you can find the names and use the relevant tick boxes.
There are three main types of Exacta bets to consider when you want to place a bet. The first is the simplest, a straight Exacta – finding the first and second correctly.
A reverse Exacta is double the stake of a straight but allows the punter to pick two horses who can finish first and second. A combination, or box Exacta, means you can select as many horses as you like, as long as two finish first and second. This is the most expensive to place as there are so many permutations.
For example, putting in a third selection would be six total lines – A to beat B, A to beat C, B to beat A, B to beat C, C to beat A and C to beat B.
Strategies for Winning with Exacta Betting
When looking to land an Exacta, a new punter might find it easier to start in races with smaller fields. Also, fewer horses to study will allow a novice Exacta punter an easier opportunity to land a return.
While the big field handicaps tend to produce a bigger dividend, don’t jump straight into the deep end with Exacta betting. Instead, feel your way in gently before moving on to the larger fields when you are confident enough.
A little general knowledge of horse racing is always a help when placing any bet. Finding horses who like certain tracks or ground is an excellent way to start. Trainers or jockeys in form is another popular strategy, with jockeys especially full of confidence when winning.
Horses with larger odds will boost the potential return but also make the bet harder to land.
Trying to be greedy is a common mistake with punters regarding betting. With all betting, you must study the form before placing a bet. Well-researched selections will produce better results than random guesswork.
Examples of Exacta Betting in Horse Racing
It is rare to see an Exacta payout of more than a thousand pounds. Still, the big handicaps at the Cheltenham Festival, Grand National and Royal Ascot provide those opportunities. A pair of big outsiders finishing first and second on a day when there is lots of money in the pool will produce the biggest returns.
One of the most famous is when Mon More beat Comply Or Die in the 2006 Grand National. A 100/1 winner beating a 14/1 second saw an Exacta that paid out £2,610.90 to a £1 stake.
Advantages & Disadvantages of Exacta Betting
With an Exacta bet being a pool bet, the return you get for a winning selection will depend on how many others have placed the same bet. This can be great if you have managed to find a first and second that few others have picked out. However, the Exacta dividend regularly beats the forecast dividend, so it’s an excellent alternative to that bet.
If you are lucky enough to pick a pair of outsiders (as in the section above), there are some big payouts possible with the Exacta. The lure of a big return from a small stake is strong for most casual punters.
Trying to find both the first and second in a race is challenging, so the payouts can be of considerable size on occasion. This is especially true when the race is a big-field handicap at one of the big festivals.
It is a bet where punters will often get first and third or second and third, which can foster the attitude that a win must be around the corner. This is not always the case, though – beware of false hope encouraged by any near misses in betting – please always gamble responsibly.