You must have heard the phrase ‘Variety is what gives spice to life’. In real life, there are very few things that you will get that are a one size fits all. That is why we have shoes but there are different sizes and styles of shoes, we have cars but there are different shapes and sizes and the houses we live in come in many forms and styles. The reason for this is that for the most part the shoe we wear, the car we drive and the house we live in is determined by two main factors: preference and cost. One person may prefer a black shoe where another fancies brown. Another may only have financial capability to buy a small car whereas someone else may be willing and capable of spending a large amount to get the car of his or her dreams.
What is an Exacta Wager
It is a realization of this same principle that has spawned a plethora of alternatives when it comes to sports betting. The alternatives differ in many aspects from the number of horses being bet on to the way the amount paid for the winning bet is determined. It is important that as you place a bet, you understand the key rules around the type of bet you place. One of the more popular types of sports betting is known as the exacta. In non-technical language, an exacta is a wager in which the punter predicts the number one and number two in a given race. It was initially used exclusively in horse and greyhound race betting but is now also used in other sports betting events as well. In the original meaning of exacta (nowadays referred to as straight exact as we will see later), the combination has to be exactly as predicted for one to win. In other words, if the horse you predicted would win the event comes second and the one you indicated as the possible runner-up comes first, then you lose the wager. Although the original principle of exacta betting has been retained over time, nowadays there a number of improvised forms of exacta betting.
Types of Exacta Bets
Exacta bets come in various forms. However, there are three types of exacta betting that would qualify as the most widely used: straight exacta, the exacta box and the exacta wheel. In straight exacta, first and second place finishers must be in the exact naming and order you predicted. Anything else is a loss. In the exacta box, you bet on the two or more horses or greyhounds that will finish the race first and second but not necessarily in that order. Hence the term box because you have figuratively ‘thrown-in’ the two or more picks into a ‘box’ and the order in which they emerge is not important as long one the two is first and the other second. Since you are not restricted to selecting just two horses, the cost of the wager will continue to rise as you add more horses to your ‘box’. The third type of exacta betting is known as the exacta wheel. Here, the punter must predict the horse or greyhound that will finish in first place. After that, you select two or three other horses that will take the second place. What is interesting is an exacta wheel wager becomes cheaper as you add more likely second place horses to the
One of the reasons put forward by punters that opt for exacta bets is the considerably higher payout it has where compared to several other sports betting options. It is all a matter of probability. It is more difficult for one to predict an exact match of the first and second place finishers in a race than it is to foretell just the winner. Hence the higher pay.
Importance of Research
As with any other time you are placing a sports or racing wager, an understanding of the participants is important. Actually, the understanding and background research on the participating horse is key when placing an exacta bet because you will be trying to predict at the minimum, which horse comes first and which one comes second. You will find an exacta matrix at the racetrack and this should provide guidance as to which would be the best set of combinations. Be careful though because the exacta matrix odds are not infallible and doing your own research can never be replaced by the information on the exacta matrix. Therefore, do a background check on the horses evaluating for example their overall past performance, the racetracks where the horse has performed best and any running weakness (some do better over long distances while some horses are faster on shorter ones).
Placing your Bet
When placing an exacta wager for the first time and especially online, stick with the more established bookmakers at the beginning. Though this will not necessarily increase your chances of winning on an exacta bet, you will be able to benefit from the database of information, reputation and history of these established firms as you grow your knowledge on the best techniques to use for exactas. When doing it track side, work with someone that has done it for some time. This is for the exact same reason as you opt for established firms for online exacta betting.
The techniques employed for exacta wagers vary as broadly as there are punters. Some bettors will prefer to pick a horse that is widely considered a favorite as the possible first place finisher then combine this with a horse that is not as heavily favored but that has demonstrated ability. Taking this approach requires you to be convinced that the ‘dark horse’ does have a chance only that they may have escaped the radar of most bookmakers. When this type of approach does pay out, it can be rewarding because the odds on the ‘dark horse’ will definitely be higher than that of any that was favored to win.