So you have figured out that the favorite is likely to win the next horse race, but you also realize that you can’t get much value from a win bet. You could make several moves in this situation, but one of the most profitable and least expensive is to play an exacta.

The goal when playing an exacta is to correctly select the first two finishers in the horse race. An exacta can pay anywhere from a few bucks to a few thousand.  In some areas an exacta is known as a perfecta. Let’s take a look at some of the various types of exacta wagers and various wagering scenarios.

Straight Exacta- This type of wager involves picking the first two finisher of the race cold, or straight. For example if you had the foresight to know that Colonel John would win the 2008 Travers and Mambo In Seattle would run second, you could have played a straight exacta 2-9. The wager would cost as little as $1.

Exacta Box- Maybe you weren’t so sure that Colonel John would get his nose down at the last second and win the Travers. Perhaps you thought Mambo In Seattle was getting good at the right time, but didn’t know if he was good enough. In this situation you would want to box the horses. If you box two horses either of one of them can finish first or second and you will still win. You can box as many horses as you want.

Exacta Wheel- Often times I find myself feeling strongly about a horses chances for winning. In this situation I will sometimes wheel the field second in my exacta hoping to catch a long shot. Wheel means that you take the entire field for second. You can also back wheel in anticipating your horse will run second.

Exacta Part Wheel- This is similar to a wheel, but in a part wheel you wont include some horses. For example, I didn’t like Cool Coal Man or Da’ Tara’s chances of running well in the Travers. If I was going to play an exacta part wheel I wouldn’t have used them second, thus saving money on my ticket.