Posted on
1/21/2008 8:15:28 PM
Horse Racing Wagering - Exactas Offer Better Rewards Than Win Bets
By Greg Melikov
My favorite exotic wager is the exacta. That’s because payoffs are more rewarding than won bets.
The main reason: Exacta wagering pools offer more value than win pools since there’s plenty of bets based on the names and numbers of horses instead of handicapping.
Then there are some horseplayers that always go against favorites, hoping for sky-high rewards produced by longshots.
I see no harm including favorites in exactas,
trifectas and Pick 3s, 4s, 5s, 6s, etc. But I always embrace at least one longshot in exactas and trifectas.
Exotic payoffs are calculated by the number of winning tickets after the track takeout that vary widely from state to state.
The more winners there are, the smaller the payout. An important factor – the size of a field affects the odds. For example, an 8-1 horse among six to eight runners is considered a longshot.
In fields with nine to a dozen runners, an 8-1 thoroughbred is considered a medium-priced contender. In full fields exceeding 12, an 8-1 runner may be among the top four choices while horses 12-1 and higher are true longshots.
I usually follow several rules when betting exactas:
Seldom play favorites below 2-1 on top. If you do, throw out the second betting choice because both hardly ever run one-two. I researched this several years ago and found that’s especially true among 2-year-olds.
At several tracks that run many races for juveniles, I found one of the top two choices wins more often than not.
If you box a pair at 2-1 and 3-1 in an eight-horse field, the $2 exacta payoff with the lower odds on top runs $26 and only $7 higher if reversed.
Sometimes you can include overbet favorites 2-1 or below on the bottom while putting any overlays or longshots on top. The payoffs can be generous.
For example, if a 10-1 shot tops a 2-1 horse, the exacta returns $80. However, with the 2-1 horse on top, the payoff is $30 lower.
Rarely combine pairs of longshots 10-1 and up, but you can box two horses 3-1 to 8-1 if at least one is an overlay. Two longshots at double-digit odds rarely finish one-two.
Say you box 3-1 and 8-1 horses: Lower odds on top would return $193 while higher odds produce $15 more.
A random survey of 10 tracks now staging meetings, according to Brisnet.com, shows winning favorites are averaging 34 ½ percent.
The highest payoffs for a $2 exacta average $101.90 at Delta Downs and $88.58 at Fair Grounds. So far, the lowest returns are $47.40 at Santa Anita and $66.18 at Gulfstream Park.
There are as many exacta-wagering strategies as there are handicapping professionals. For example, some experts recommend betting your selection to win and also keying the two logical choices on top in an exacta.
Other handicappers look for a shaky favorite and put two horses on top. If I go this route, I make sure one of the two is a price horse while only using the false favorite if that’s the third logical choice.
An interesting set of rules that appears on several racing websites advises:
Pick two races a day at your favorite tracks and look for contests with a minimum of eight horses while the ideal field has 10 runners.
Don’t play the race if the favorite is bet down to 8-5 or less.
Find races that lack a heavy favorite because they produce generous rewards.
Keep an eye on the tote board, take notes and don’t wait to the last minute to place your bets.
I say develop your own formula, but let each race dictate whether you play an exacta or not.
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