Exacta bets are very popular in horse racing, but what exactly are they? In the simplest terms, when placing exacta bets, you are wagering on which horse will come in first and second place.

Thinking of placing exacta bets on horse racing but don’t know where to begin? Well, then, this article is for you. We’ve prepared a detailed guide to exacta betting, how it works, and so much more.

We’ll also take a look at the best sites for placing exacta bets! Our top pick is Bovada, but there are so many others available.

Keep on reading to find out more!

What Is An Exacta Bet? Quick Overview

An Exacta is one of the first and most simple of the exotic betting combinations. An Exacta bet is where you place your wagers on two horses in one race to finish first and second in that exact order.

For example, if you choose Rain Man to place first and Dirty Dancing to place second, and they both come in, in that order of the race, you will win more than if you had merely placed a “win” bet on Rain Man to come in first. Therefore, an Exacta bet is essentially two bets in one race.

In an 8-horse field, there are 56 different Exacta combinations; therefore, there are 56 ways to win an Exacta wager.

Advantages of Exacta Betting on Horse Racing

Apart from being more thrilling than a mere “win” bet, Exacta bets are also more cost-effective than some of the other betting combinations, as you only place your bets on the top two horses in the race.

There are also lower “minimum stakes” on Exacta bets, which is great for punters that want to place marginal bets but still have the potential for decent winning returns. Many horse races have a minimum stake of $1.

Additionally, you can win more money on Exacta bets than if you had placed a bet on a “win, place, or show” bet. Because you have essentially placed two bets, you have twice the returns to gain if both horses come in with a win in the order that you bet.

Disadvantages of Extacta Betting

It is very difficult to predict the order in which horses will come in, so don’t think that Exacta betting is the answer to your wagering prayers. Even seasoned punters who study the horses get it wrong sometimes, but the potential rewards outweigh the disadvantage of the inability to predict race outcomes.

Exacta betting is also slightly more complicated than traditional “win, place, and show” betting, so many people tend to steer clear of the combination.

Types Of Exacta Bets: Straight, Box, & More

There are a few different types of Exacta bets, and while they are all similar, there are a few stark differences between them. Let’s take a look at the different types of Exacta bets and discover how they work.

Straight Exacta Bet (Straight Exactas)

As previously mentioned, a straight Exacta Bet is where you place a bet on two horses to come in first and second in that order.

This is the simplest of the exotic combinations, but it offers much greater winning potential than traditional bets and is very popular.

>> Place straight exacta bets at Bovada

Exacta Box Bet (Boxed Exactas)

An Exacta Box Bet is where you pick two horses to win, but there is no bet on which horse comes in first. You have essentially put a “box” around your bet, shielding it from the place combination. For example, you can choose both Rain Man and Dirty Dancing to come in, in any order, and should both of them place first and second in any order, you will win the bet.

You can also choose more than two horses to be the first on the second place. So you can choose Rain Man, Dirty Dancing, and Pretty Woman, and if either of these horses comes in first and second in any order, you will win the wager. This is an extremely versatile betting strategy, as you can place multiple bets on one single betting slip.

>> Place exacta box at MyBookie

Placing Exacta Key Box Bet on Horse Racing

A Key Box Exacta Bet is not dissimilar to the Exacta Box Bet, with the only exception being that you choose a key horse to come in first. For example, you can place an Exacta Key Box Bet on Rain Man, Dirty Dancing, and Pretty Woman to come in, but you pick Pretty Woman to come in first.

If Pretty Woman comes in first and either Rain Man or Dirty Dancing come in second, you have won the wager. This combination is less expensive than the traditional Exacta Box Set, but then again, it does not offer the same potential winnings payout.

>> Place exacta key box bets at BetOnline

What are Exacta Wheels and Exacta Part Wheels?

An Exacta Wheel Bet is perfect for when you are in with a good tip on a winner and place the remaining horses in with a place in second. Simply put, it is when you pick sets of horses to win first and second place. This strategy is great for improving your chances of winning, as you can select multiple horses to finish in each position.

There is also the option of wagering an Exacta Part Wheel where you can choose the part of the field lineup, and not all of the horses on the field, to be part of the winner’s circle with your key horse in your desired position.

That being said, Exacta Wheels are slightly more complicated and more expensive than most other Exacta combination bets, so if you are a super-novice, it is probably a better idea to leave them to the more experienced punters or until you are more experienced.

>> Start placing exacta wheels and exacta part wheels at BUSR

Exacta Mystery Boxes (Mystery Box Exactas)

Exacta Mystery Boxes couldn’t be more simple for you to understand. They can be any combination of the above Exactas with one special difference- you won’t be the one picking the combinations.

That’s right- your bookie can choose different combinations for you, and all you have to do is name the betting cost you feel comfortable with, and they will choose your winning combinations for you. On a side note, it isn’t the bookie themselves that are doing the choosing; rather, a sophisticated track computer will be doing the work for you.

>> Place mystery box exactas at SportsBetting.ag

Other Popular Horse Racing Bets Explained

You may have noticed we have already referenced a few types of other horse racing bets. Each track is unique, and some even have their own lingo, but there are a few common terms that we can learn.

Starting with the most common bets you can make on the track, we will walk you through a list of the basic types of bets you need to know if you are going to consider yourself a seasoned track punter. Let’s take a closer look at what other types of horse racing bets there are.

Win Bets

Win Bets are exactly as they sound. You pick the horse that you think is going to win the race, and if it comes in, in the first place, you win the bet. This is the most common type of horse racing bet you can place. This is the bet that has the most winning potential of all the non-combination bets in horseracing.

Place Bets

Once again, as the name suggests, if you pick a horse to come in, in either first or second place, and if the horse comes in third or later, you have lost the bet. Only first and second place wins you the wager.

Show Bets

By now, you can probably see where this is going. If you choose your horse to come in in either first, second, or third place, that is a Show Bet. If your horse comes in fourth or later, you have lost the bet.

This is the third most common type of betting in horse racing and the least likely to win you any decent money, but you will still take home something worthwhile, especially if your horse is an outsider with exceptional odds.

Across the Board Bets

An Across the Board bet is all three bets on the same horse in one. If you place an Across the Board Bet on Rain Man and Rain Man comes in first, then you have won all three bets. If Rain Man comes in second, then you have won the Place and Show Bets. If Rain Man comes in third, you have won the Show Bet.

It is also important to note that you are placing three bets, so your cost of the bet is tripled. If you have placed an Across Board Bet on $5, then your cost of the bet will be $5.

Quinellas

Quinellas are similar to Exacta Bets in that you pick which horses are to come first and second. The only difference is that with a Quinella, it doesn’t matter in which order they finish. For example, You can choose Rain Man and Dirty Dancing as your two horses to come in first and second. If both horses come in. in either position, you will win the bet.

Straight Trifectas

The most common and basic type of Trifecta, the Straight Trifecta, is when you pick three horses in a specific order, and they come in, in the order that you have chosen. For example, if you choose Rain Man to come in first, Dirty Dancing to come in second and Pretty Woman to come in third, and all horses come in, in this order- you win the bet.

Notoriously difficult to predict but immensely rewarding if your wager comes through- Trifectas can be the most thrilling of all your racing bet combinations.

>> Find out more at BetAnySports

Boxed Trifectas

Much like the Boxed Exactas, Boxed Trifectas give you a little more wiggle room when it comes to choosing the winners out of the top three. A Boxed Trifecta is where you pick your top three horses, and they come in, in any order.

For example, you can choose Rain Man, Dirty Dancing, and Pretty Woman to come in, in any order, and as long as those three are in the top three, you will win the bet. It does not matter if only two of them come in; you will lose the bet. You only win the bet if all three come in in the top three.

While Boxed Trifectas may e easier to win than Straight Trifectas, they will cost more, and the winnings are not as opulent. You have to pay for every possible combination, so you are essentially placing six bets. Not such a big deal if you are placing $1 wagers, but if you are placing $10 wagers, then the cost of your bets can rack up.

Trifecta Keys

The Trifecta Keys is a combination of both the Straight Trifecta and the Boxed Trifecta, but there is one vital difference- you get to pick a key horse to come in, in the first place. For example, you have your Boxed Trifecta of Rain Man, Dirty Dancing, and Pretty Woman, but you have chosen Rain Man as your key horse to come in first.

If all three horses come in, in first, second, and third place, more specifically with Rain Man in first, you have won the bet.

Trifecta Wheels

A Trifecta Wheel is the best of all worlds, but it can cost you. A Trifecta Wheel is where you choose one horse to come in first place and then choose all of the remaining horses to come in second and third place.

Trifecta Part Wheel

Like the Trifecta Wheel, you choose one horse to be your winner, and then you can choose a part of the rest of the horses to make up your second and third-position winners. For example, you can Choose Rain Man to be your winner, and then you can choose 2, 3,4, or 5 other horses to come in second and third place.

This means your cost of the bet will be less than the Trifecta Wheel, but you still have the option of varying your odds. Trifecta Wheels are not for the faint of heart, so unless you are in the mood to lose some money or you are super confident in your betting options, it is best to leave the Wheels to seasoned punters.

Mystery Box Trifectas

Much like the Exacta Mystery Box Bets, the Mystery Box Trifectas is where you leave the deciding on your bet spread to the sophisticated technology employed by any given betting houses, such as Bovada or BetOnline.

You need to decide on how much you want to bet, and the track or betting house’s onboard computers will put together a Trifecta Betting combination on your behalf.

>> Find out more at BetUS

Superfectas

Superfectas are one step further than Trifectas in that you get to pick the first, second, third, and fourth horses, and if all of your horses come in, in that order, you will win the bet. And win big, at that. Superfectas are the mothership of all payouts, but they come in so rarely that they are sometimes called a mermaid in some racing circles.

Daily Doubles

A Daily Double is where you pick the winner in two races on one specific race day. That is really as simple as it is. Daily Doubles are popular with the punters that are in the know, and they do offer slightly better payouts than if you had individually placed two separate Win Bets on two separate races. Whether you are looking for Belmont Stakes betting or other tracks, this bet is very popular to use!

Pick 3, Pick 4, or Pick 6

Pick 3, Pick 4, and Pick 6 are the same as Daily Doubles; instead, you pick the winner from 3 races in the Pick 3, 4 races in the Pick 4, and 6 races in the Pick 6. Your chances of winning all 6 are lower than your chances of choosing the winners of 2 races, but your payout potential is higher.

Pick 3’s, Pick 4’s, and Pick 6’s are not all that popular anymore, but for the old-school punters who know their horses, they still provide enough of a thrill and payout potential to still be a thing in some circles.

>> Place your bets at Lucky99

How to Start Placing Exacta Bets on Horse Racing

Getting started at the best exacta horse racing betting sites is quite an easy process. Below, you’ll find a step-by-step guide to signing up for our top pick for today, which is Bovada.

Step 1: Create Your Account

Follow this link to visit Bovada and click “join” in the top right-hand corner.
Follow the prompts and create your account. You will need to fill in all your personal details.
Go to the “Cashier’s” tab and fund your account using your preferred payment method.

Step 2: Go to the Racebook

Click on the “Horses” link on the main page to direct you to the racing pages.
There you will find a list of race tracks where you can pick your desired race rack and races.
Click the “Exacta” tab on the screen.

Step 3: Pick Your Horses

You will see that each horse has 2 boxes next to its name; 1 and 2.
If you think the horse will come first, tick the first column box. If you think the horse will come second, tick the second box.
Once you have made your choices, click “Add to Bet Slip” and follow the prompts to finalize your bet.

Exacta Horse Racing Betting Strategies

It may surprise you to hear that most horse racing punters do not know too much about horse racing bets over and above the “win, place, and show” betting strategies. And while it may be quite the task to predict the Exactas, Trifectas, and even more so, the Superfectas, there are a few strategies that you can employ to help make the most of your bets.

Let’s show you a few strategies that will make you sound like a pro when you’re drinking champagne with your fellow racegoers.

Only Bet Exactas in Large Fields:

While you may think it would be easier to pick your first and second race picks from a smaller field, the winnings are minimal, and the bets may land up costing you most of what you would win anyway.

Key Bets Are Your Sweet Spot:

In every race, you would have heard the term “the favorite.” This is simply the horse that is generally thought to be the horse most likely to come in with a win. But why not up your winning potential ante by playing an Exacta Key?

To recap, “Keying” in your favorite to-win horse sets you up to be halfway to winning your bet just by adding an Exacta Key. It will also cost you less than an Exacta Box Bet.

Avoid Races with Clear To-Win Favorites:

While it is perfectly acceptable to bet a Win Bet on a clear favorite, it is not advisable to back these horses if you are looking to maximize your winnings. If it was that easy, then everyone would bet the same, and there would be no major prize money up for grabs. And we are after the big bucks.

Learn About The Horses:

It goes without saying that the more you know about the horses, their trainers, and their past performance, the better your chances are of making a betting splash on race day. Running style is the key to knowing how the horses are going to perform.

Google is going to be your best friend in this component of your strategy bank, so don’t be afraid to spend some time getting to know which horses are fast burners, quick out of the gates, or sensational at coming in from behind.

Watch Out For The Wheel Bets:

While Wheel Bets may seem like a sure thing, as you are essentially covering all of your bases, they are not that great when it comes to winning potential unless you know what you are doing. And even then, Part Wheel Exactas are probably going to be a better bet.

If you are in the learning stages of your horse racing handicapping career, then it is probably best to leave Wheel Betting to the professionals or those that like to burn money for little payback potential.

Play The Field:

Unlike real live race tracks, online casinos are a dime a dozen, so there is a lot of competition between the different online casinos to entice new players to join their ranks. One of the ways they incentivize new players is by offering fantastic sports betting welcome bonuses and rewards.

>> Find out more at XBet

Best Horse Racing Betting Sites to Place Exacta Wagers

Bovada: As our Bovada review shows, it is easily the grandaddy of online horse racing. The racebook is beautifully designed, with easy navigation and exceptional odds. They cater to all of the major racing events, and you will also find a few smaller race tracks on their books. Bovada also makes the Exacta betting process super-easy and convenient.

You can redeem a fantastic welcome bonus of 75% up to $750 just by joining Bovada and making your first deposit. You can use this bonus on any type of wager or sport, so you’re good to go on the horses, and there is a 5x rollover requirement for horse racing. It offers a variety of racetracks and betting options, including Grand National Betting odds and so much more.

MyBookie: MyBookie is a fantastic sportsbook that offers decent horse racing betting odds and markets. You can expect great racing markets from Australia, Ireland, the USA, and more.

MyBookie also offers a great sports welcome bonus, which you are free to use on the horses. They offer a 50% match bonus on your first deposit with a 10x rollover. So, if you deposit $200, they will give you a $100 bonus just for signing up.

BetOnline: BetOnline is one of the oldest and most respected sports betting sites the internet has ever seen. Its horse racing section is excellent, and they cover every major market as well as a few smaller tracks which offer great odds.

Our BetOnline review also found that it offers some of the best sports betting welcome bonuses the internet has ever seen. You can expect a welcome bonus of 50% up to $1000 with a 10x rollover requirement attached to the welcome bonus.

BUSR: BUSR is a household name for those in the horse racing leagues. Their markets are some of the most sophisticated horse racing events in the world, and they offer fantastic odds. If you are looking for a high-performance horse racing betting site, then BUSR is for you.

They also offer great welcome bonuses and rewards. Currently, you can claim a horse racing welcome bonus of 20% up to $1000. The minimum deposit amount is $100, and there is a 10x rollover requirement attached to the welcome bonus. It has some of the most competitive odds for the Kentucky Derby.

Sportsbetting.ag: Sportsbetting.ag is another excellent pick for exacta bets. It is one of the most underrated sports betting sites, in our esteem, specifically because their horse racing is so incredible.

They also offer decent sports betting bonuses and rewards, which you can use on any sport, even horse racing. They offer a welcome bonus of 50% up to $1000 with a 10x rollover requirement.

Check out our similar articles:

Guide to Placing Exacta Bets on Horse Racing: FAQs

What are the Minimum Exacta Bets I Can Place?

The minimum you can bet on an Exacta bet is usually $1, but there are some racetracks that require a minimum bet of $2.

It is also becoming more and more popular for some racetracks to offer a minimum bet of $0.50, but those are rare. Whether you want to wager on Preakness Stakes or others, you should always consider minimum bets.

What Is the Best Exacta Bet to Make?

The best Exacta Bet to make depends on your appetite for risk and reward, but in a nutshell, as a semi-skilled punter, the best punts for you to make should be Key Exactas.

Don’t take our word for it, though. Give a few options a try and see how well you fare.

Where Can I Learn More About Horse Race Betting?

There are many options to learn more about horse racing, like our website! Make sure to come back and check out our articles; we frequently update them.

So, Are You Ready to Place Exacta Bets on Horse Racing?

Horse racing is a sensational way to turn a few pennies into potential huge payouts if you know what you are doing.

Exacta bets are very popular and for a good reason. While it might be a bit riskier, as you are essentially placing bets on two different horses, it also offers higher potential payouts, which is something to be excited about!

There are many betting sites that allow exacta betting on horse racing, but our favorite is Bovada!

No matter which betting site you go with, please always wager responsibly.

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