An Exacta Bet is picking horses to finish first and second. Place a straight exacta, exacta wheel or exacta box. Each exacta variant has its own mechanics and cost. This tutorial explains how to place each exacta. See example exacta bets and cost tables below.
A winning exacta bet can result in a respectable payout. Winning exactas with longshot horses pay more than those with heavy favorites.
Exactas are also called “Perfectas“.
Table of Contents
First, let’s define an exacta bet.
The following video clip explains how to place this bet. Watch the entire video for other horse bets.
Straight Exacta Bet
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Choose 2 horses to finish first and second. Final order matters.
Your exacta wins if the horses finish in the exact order you specified.
Cost: $2
How to Place an Exacta Bet
Time needed: 1 minute
How to place an Exacta bet
- Create a new horse betting account or login to your existing account
Create a new player account at one of our recommended horse betting sites or login to your existing account.
- Choose a race track and upcoming race
Review the horse betting site’s list of horse tracks and upcoming races. Morning line odds are typically available about 3-5 hours before wagering begins.
- Select an exacta bet from the wagering menu
Tap “Exacta” bet from the horse racing’s wagering menu. You might need to tap open exotics or “other” wagers to display the exacta bet.
- Choose the first and second horses in the order your desire, then book the wager
Choose a horse to finish first and another horse to finish second. Final order matters. An exact bet costs $2.
- Your exacta bet wins if the horses finish in the order you specified
Carefully review the race results. If the top two finishers match the horses and final order you specified, your exacta bet wins.
Example Ticket:
$2 Straight Exacta on horses 3-5 means you are betting $2 that horse 3 will finish first and horse 5 will finish second. Final order matters.
Exacta Box Bet
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| #2 DRF Bets REVIEW | New Customers - $200 Deposit Bonus + 10 Performance Cards - Code: Stakes Bet Now 21+ Play from any approved state Gambling Problem? Call 1-800-522-4700 |
An Exacta Box bet is picking any number of horses to finish first and second. Final order does not matter.
Your exacta box bet wins if any of your horses finish in the top 2 in any order.
The exacta box costs more than a straight exacta because you must pay for each possible finishing combination.
Cost: $2 per Combination
Exacta Box Cost
H = Total number of horses being boxed.
C = Cost per Combination, usually $2.
(H) x (H – 1) x (C)
A 3 horse exacta box costs $12 for 6 combinations: 3 x 2 x $2.
Tip
Racebooks will calculate exacta box cost for you. See also this calculator.
How to Place a Box Bet
- Choose “Exacta Bet”.
- Horses will be listed on the left. The next “ML” column contains the odds.
- Select 3 or more horses to finish first and second. Final order does not matter.
- You must select “Box” wager. This indicates the bet is an Exacta Box.
- Notes: Racebooks will calculate box cost automatically.
Example Ticket:
A 4 Horse Exacta Box on Horses 2-7-5-8 means you are betting $2 that any combination of horses 2, 7, 5 or 8 will finish first and second in any order. This exacta box costs $24 for 12 possible finishing combinations.
2 Horse Exacta Box vs. Quinella
An exacta box and quinella payout after the same race result. Two horses must finish first and second in any order. The mechanics of each bet differ.
Quinella
The quinella is one bet on 2 horses. Horses A and B can finish either A-B or B-A.
Exacta Box
The 2 horse exacta box is 2 different bets on A and B.
- Horses finish A-B.
- Horses finish B-A.
Each horse’s odds will produce two different payouts. This happens when a favorite is paired with a longshot. A winning longshot followed by a heavy favorite would pay more than the reverse result.
2 Horse Exacta Box vs. Quinella Equation
Use the following equation to determine whether a quinella or exacta box is better for 2 horses.
Q/E1 + Q/E2 <> 1
- Q = 2 horse quinella payout.
- E1 = 2 horse exacta payout finishing A-B.
- E2 = 2 horse exacta payout finishing B-A.
- Results greater than 1 indicate the quinella is a better choice than an exacta box.
Example:
Q = $15 Quinella Payout
E1 = $20 Exacta Payout A-B
E2 = $50 Exacta Payout B-A
$15/$20 + $15/$50 = 0.75 + 0.3 = 1.05
1.05 > 1. Therefore, the quinella is the better bet.
Exacta Wheel Bet
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|---|---|
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An Exacta Wheel bet is picking sets of horses to finish first and second. Each set is called a key. Each key contains 1 or more horses.
Two Exacta Wheel Bets
Exacta Full Wheel – Put one horse in the 1st key with all other horses in the 2nd key. Alternatively, wheel 1 horse in the 2nd with all others in the 1st.
Exacta Part Wheel – Put one or more horses in the 1st key with your own set of horses in the 2nd key. The part wheel does not include all other horses.
Exacta Wheel Details
A horse can be included in multiple keys. This is common for heavy favorites. They are more likely to finish in the top 2 than a longshot.
An exacta wheel bet requires a specific finishing order from 2 sets of horses. Note that an exacta box bet requires any order of 3 or more horses.
Your exacta wheel bet wins if a horse from the 1st key finishes first and a horse from the 2nd key finishes second.
Cost: $2 per Combination
Exacta Wheel Cost
This calculation is more complicated because the same horse can included in multiple keys. Racebooks will calculate your exacta wheel cost automatically.
Exacta Wheel Combination Calculation
A = Number Horses Key 1
B = Number Horses Key 2
AB = Number same horses in both keys.
(A x B) – (AB) = Combinations
Multiply combinations times cost per combination.
Tip
Racebooks will calculate exacta wheel cost for you. See also this calculator.
Example Ticket:
4 Horse Exacta Part Wheel. 1-2 with 2-3-4 costs $10.
- 1st Key – Horses 1 and 2
- 2nd Key – Horses 2, 3 and 4
Notes: 2 is in both 1st and 2nd key.
Example Cost Calculation:
(A x B) = 2 x 3 = 6
– (AB) = –1
6 – 1 = 5 Combinations x $2 = $10
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Exacta Betting Reference
$2 Exacta Box
| Horses | Combinations | Cost |
|---|---|---|
| 3 | 6 | $6 |
| 4 | 12 | $12 |
| 5 | 20 | $20 |
| 6 | 30 | $30 |
| 7 | 42 | $42 |
| 8 | 56 | $56 |
$2 Exacta Part Wheel
| Key 1 | Key 2 | Combinations | Cost |
|---|---|---|---|
| 1 | 2,3 | 2 | $4 |
| 1 | 2,3,4 | 3 | $6 |
| 1 | 2,3,4,5 | 4 | $8 |
| 1 | 2,3,4,5,6 | 5 | $10 |
| 1 | 2,3,4,5,6,7 | 6 | $12 |
| 1,2 | 3,4,5 | 6 | $12 |
| 1,2 | 3,4,5,6 | 8 | $16 |
| 1,2 | 3,4,5,6,7 | 10 | $20 |
| 1,2 | 3,4,5,6,7,8 | 12 | $24 |
| 1,2,3 | 4,5,6,7 | 12 | $24 |
| 1,2,3 | 4,5,6,7,8 | 15 | $30 |
| 1,2,3 | 4,5,6,7,8,9 | 18 | $36 |
| 1,2,3,4 | 5,6,7,8,9 | 20 | $40 |
| 1,2,3,4 | 5,6,7,8,9,10 | 24 | $48 |
| 1,2,3,4,5 | 6,7,8,9,10,11 | 30 | $60 |
FAQs on Exacta Bets
Choose two horses to finish first and second in the order you specified. Final race order matters. Exactas cost $2 each.
Choose 2 or more horses to finish in the top 2 in any order. Final order doesn’t matter. Each possible winning combination costs $1 each.
Put one horse in the 1st key with all other horses in the 2nd key. Alternatively, wheel 1 horse in the 2nd key with all others in the first key.
Put one or more horses in one key with your own set of horses in the other key. The part wheel does not include all other horses.
The quinella is one bet on two horses to finish either A-B or B-A. The exacta box is two different bets, one on the horses to finish A-B and the other on horses to finish B-A. The exacta box payout will vary particularly when pairing a longshot with a heavy favorite. The final result will produce a much different payout.
Exactas are also known as “perfectas”. The term perfecta is more commonly used outside the United States in other English speaking countries with horse racing traditions.
Use our simple equation to compare the quinella payout vs the exacta box payout on two horses. When the sum of the quotients of the quinella payout divided by each exacta payout is 1 or more, the quinella is the more profitable bet to make.
An exacta bet is picking a horse to finish first and another horse to finish second in the order you specify. A quinella bet is picking two horses to finish first and second in any order, for example either A-B or B-A.
Horse Betting Resources
- Horse Racing Betting Tracks – Complete list of today’s thoroughbred horse races and harness races from major United States tracks and raceways, plus a select list of Canadian and Latin American tracks.
- Horse Betting Sites – We’ve reviewed the finest legal US horse racing betting sites, offering our own insights and guidance on where to place a bet. Don’t forget to claim your bonus code.
- How to bet on Horses – We’ve made horse racing betting easy, giving you a basic rundown of the win, place, show, and win-place-show bet. You’ll also learn how place a trifecta, superfecta, exacta, or quinella bet.
Exotic Horse Bets
- Exacta Bet – Bet on two horses to finish first and second in the order you specify. Like other exotic bets, you can box or wheel an exacta bet.
- Quinella Bet – This bet is similar to the exacta, except you’re picking two horses to finish first and second in any order. That means they could finish A-B, or B-A, and your quinella would still win. You can also box or wheel a quinella.
- Trifecta Bet – Bet on three horses to finish first, second, and third in the order you specify, or try a trifecta box or trifecta wheel bet.
- Superfecta Bet – It’s hard to win a superfecta, which is a bet on four horses to finish first, second, third, and fourth in the order you specify. Hitting a superfecta box or superfecta wheel bet might be easier.
- Daily Double Bet – Pick the winners of two consecutive horse races from the horse track’s list of eligible races. For more flexibility, you can try a daily double wheel bet. You can’t box a daily double bet.
- Pick 3, 4, 5, or 6 Bets – Pick the winners of 3, 4, 5, or 6 consecutive horse races. Like the Pick 3, you’ll need to review the horse track’s list of eligible races before placing this longshot wager. You can also wheel a Pick bet.
Kentucky Derby Resources
- Kentucky Derby Betting Odds – Odds to win this year’s Kentucky Derby and Kentucky Oaks. Learn how to bet on the Kentucky Derby.
- Kentucky Derby Trifecta Picks – See our trifecta picks for this year’s Kentucky Derby, with prerace commentary and updates before the Derby.
- Kentucky Derby Betting Sites – Best legal online horse betting sites that accept Kentucky Derby wagers, plus last minute race picks.
Preakness Stakes Resources
- Preakness Betting Odds – Odds to win this year’s Preakness Stakes and Black-Eyed Susan, with a quick guide to how to bet on these two exciting annual horse racing events.
- Preakness Trifecta Picks – We’ve got a trifecta picks for this year’s Preakness Stakes, offering you the chance to improve your odds with an efficient trifecta wheel bet.
- Preakness Superfecta Picks – If you’re feeling lucky, try our Preakness superfecta part wheel bet, where you’ll key in sets of horses and try to nail the right finish. Though it’s notoriously an elusive bet to win, the potential payout is extremely lucrative.
- Preakness Betting Sites – Last minute picks and the best places to place an online wager for the Preakness Stakes this year.
Belmont Stakes Resources
- Belmont Stakes Betting Odds – See odds to win this year’s Belmont Stakes. If a horse has won both the Kentucky Derby and Preakness Stakes, a Triple Crown will be on the line.
- Belmont Stakes Trifecta Picks – Check out our trifecta part wheel picks for the Belmont Stakes. A part wheel is easier to win than a straight trifecta bet.
- Belmont Stakes Superfecta Picks – Picks for a winning Superfecta Part Wheel at this year’s Belmont Stakes.
- Belmont Stakes Betting Sites – Legally bet on this year’s Belmont Stakes from the comfort of your home with our highly regarded online horse betting sites, then have a look at our last minute race picks.
- Belmont Stakes Trends – Review Belmont Stakes trends before placing a bet. Find out which post position is the most likely to produce a winner.
Breeders’ Cup Resources
- Breeders’ Cup Betting Odds – Odds to win the Breeders’ Cup Classic and other top-tier events from this seminal horse racing event that serves as the capstone for each racing season, with juvenile race winners likely to be Triple Crown contenders the following year.
- Breeders’ Cup Distaff Betting Odds – See the latest odds to win the Breeders’ Cup Distaff race, held on the Saturday afternoon just before the Breeders’ Cup Classic.
- Breeders’ Cup Mile Betting Odds – Enjoy the thrill of the often underrated Breeders’ Cup Mile, a stunning race held early Saturday afternoon before the main event.
- Breeders’ Cup Turf Betting Odds – Another great race on the undercard, the Breeders’ Cup Turf showcases the world’s top horses on grass. Get the latest odds before the race goes off Saturday afternoon.