Sunday, March 16, 2008

Exotic Bets: The Exacta

I have been running a poll on my web site http://billwinters.org/handicap2.htm for quite a while now. The results of this poll show that the exacta bet (26%)is about as popular as the win bet (25%). This leads me to taking a look at the exacta and how it can be used as a profitable bet.

The concept of the exacta is to focus on who will win and who will place after the race is over. The horseplayer considers what horses can win the race as well as the horses that can place in the race. The bet takes into account your best possible combinations for a particular race. For example, if you believe horse A will win and horse B will place then an exacta bet is very simple and inexpensive to buy (A $2 exacta costs $2.). You merely bet the exacta A with B (written as A/B). This will rarely pay off no matter how good your handicapping is. The approach to placing exacta bets is to use your handicapping results to choose those horses that you believe can win over those horses that you believe could place and see what those combinations will cost you.

Example 1: You believe that horse D will surely win but you also believe horses A,B,E and F could place. In this case you would place a bet as D/A,B,E,F. If it is a $1 exacta it would cost you $4. You would have 4 possibilities working for you: DA, DB, DE and DF.

Example 2: You believe that horse C will win and that any of the other horses in the race could
place. Your bet would be C/ALL. (A race with 10 horses in it will cost $9.)

Example 3: You believe there are several long shot horses in the race that could win and that
horses A and D will place. You would place the bet ALL/A,D.

A popular bet is the exacta box. This is a bet that allows for any of the horses in a box to win or place and you win the bet as long as both horses are included in the box bet. The limitation of the bet is the cost. Using a $1 exacta, for example, boxing two horses will cost $2, three horses $6, four horses $12, five horses $20, six horses $30, and seven horses $42.

The approach to betting the exacta is to doing some careful handicapping ahead of time. Use the
technique of throwing out those horses that you believe from your handicapping can not either
win or place. This way you can bring down the cost of the bet and at the same time maximize
your profit.

Reference: http://vote.pollit.com/webpoll2?ID=329064

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