Whether a sportsbettor or just a watcher, everybody is aware that horse racing is the largest and biggest community not only in Australia but in other countries as well. And if you are an experienced sportsbettor in the world of horse racing, you have probably heard about one of the various exotic bets in tote betting, namely, exacta. But if you are new and just starting out in this world, it may be time for you to dig deeper and explore how exacta tote betting works in horse racing.
What is an exacta bet in tote betting?
Due to its higher potential payouts compared to other simpler traditional bets, exacta has become a popular bet in the horse racing world among punters. The exacta bet, also referred to as perfecta in some regions, involves choosing two horses who finish the race in the exact order.
The exacta bet was first introduced in North America in the 1970s. The concept of betting on various results during a match or race in exact order can be traced back to the early days of horse racing. Its introduction to the sports betting industry was led by the idea of increasing the challenge and increasing the payout by requiring punters to provide predictions of not only one outcome but also the exact order of finishers.
Related: How to Place an Exacta Bet in Horse Racing
How to calculate your exacta bet winnings?
Let’s say there are eight (8) horses that you can bet on during the match.
| Tulloch | 1 |
| Flight | 2 |
| Sunline | 3 |
| Northerly | 4 |
| Very Elegant | 5 |
| Lightning Bolt | 6 |
| Thunderstorm | 7 |
| Midnight Shadow | 8 |
The very first step to take in exacta tote betting is to select two horses that have a higher chance of finishing in the top two. Now, let’s say you place your bet on Sunline (Horse 1) to come first and Lightning Bolt (Horse 6) to come in second.
If the horse race outcomes are similar to the way you predicted them, that means you won your bet. However, it is crucial to remember that the payout for an exacta tote bet is based on the total pool of the money bet and the odds of a certain combination that you chose.
Let’s take the following table as our guide for the calculation:
| Total Exacta Pool | $10,000 |
| Amount after 20% deduction | $2,000 |
| Total Pool after deduction | $8,000 |
Let’s say there are only 10 combined winning exacta tickets for Horse 1 and Horse 6. Each winning ticket would then get an equal share of the $8,000 pool.
Payout per ticket = total pool after deduction ÷ number of winning tickets = 8,000 ÷ 10 = $800
Hence, if you placed $2 exacta bet, your total payout would be $1,600. Exacta calculator can also be accessed here.
Why choose Exacta Tote Betting?
Higher Payouts
As mentioned, exacta bet in tote betting offers higher payouts compared to other traditional types of bets due to its challenging nature, wherein it requires punters to predict two horses to finish the race in the exact order.
Strategic Betting
Because of its level of difficulty, it also requires punters to have in-depth knowledge and conduct research about various factors that can affect the entire outcome of the race, such as jockeys’ performance, track conditions, etc., increasing their chances of winning.
Related: Tote Betting: Weighing the Pros and Cons
Conclusion
By exploring and understanding how to calculate exacta payouts and taking advantage of reliable insights, you can maximise your chances of success. While it is true that an exacta bet offers you multiple options and various emotions to feel at once, it is also essential to know that it is not cut out for everyone. Not only does it require your luck but also your smart prediction.
Ready to put your knowledge to the test? Get started with exacta bets with Edge Alerter today and see how your predictions can result in bigger payouts!
