The exacta horse bets is one of the most common wagers available. They are available almost everywhere these days, when making these types of wagers you choose the top two finishers of the race. For example if you like the number three and four horse you would choose three to win the race, and number four to come in second place. These wagers pay much better than if you were simply to wager on these two horses on separate tickets, take caution though because the odds of predicting the winners and the exact order of first and second place are much steeper.
When you make exacta bets you are not limited to simply one set of horses, you can choose multiple exacta sets if you want to. Your winning will depend on the number of horses and the total amount of your bet. With exacta wagers the average win on a $1 ticket is somewhere in the neighborhood of $9 which is a pretty good payout if you think about it.
If you are unsure of which two horses will finish first and second you can also place a bet in what they call an exacta box. This type of betting creates combinations that give you multiple ways to win on any one race. This gives you a much better chance of winning than if you were to just choose a single winner and second place on your ticket. If there are three horses you think have a good chance of coming in second place you can bet on all three of them and the horse you think will come in first, this will give you six winning combinations on one single ticket. Take caution however because this type of exacta betting is much more expensive, the average cost of a exacta box bet is $6 compared to the $1 of a single exacta bet. It is key to remember that it is never a good idea to bet on a box of more than four horses on one single ticket, any bet on more than four horses will be a significant loss if you lose.
One way to minimize the cost of exacta boxes is to bet on what is called and exacta wheel, this simply means that you are betting on a to win with a few options for what horse will come in second. If you like the number three horse to win and the two, four, and five horses to take second you could bet on an exacta part-wheel, your bet will look something like this 3/2-4-5, this type of wager will give you three separate combinations for winning.
Another way to bet in this fashion is on the form of a true-exacta wheel, with this form of bet you predict the winner, but are unsure of what horse will come in second. When you make this type of bet you have many more winning combinations, this depends on the number of horses in the race. If there are seven horses in the race your winning combination and you like number one to win your winning combination would look like this 1/ 2-3-4-5-6-7. The payout on this type of bet depends on the number of horses, the total bets taken in and who actually gets second place, if the second place horse is an underdog the payout will be better.