The Exacta is one of the most popular exotic wagers in horse racing. To win, you must select the horses that finish First and Second in the exact order. While a straight Exacta is simple to calculate, the math becomes complex when you start using advanced strategies like “Boxing” or “Wheeling” multiple horses.
Use our free Exacta Calculator below to instantly determine the cost of your ticket based on your stake and the number of horses you want to include.
How to Use the Exacta Calculator
Calculating the cost of exotic bets doesn’t have to be a headache. Follow these simple steps to use the tool above:
- Select Your Bet Mode:
- Box: Choose this if you like a group of horses (e.g., 3 or 4) and you want to cover every possible finishing order between them. If any two of your horses finish 1st and 2nd, you win.
- Wheel (Key): Choose this if you are confident you know who will win (the “Key” horse), but you want to cover several contenders for 2nd place.
- Enter Number of Horses:
- For a Box, enter the total number of horses you are including.
- For a Wheel, enter the number of horses you are putting “underneath” (in the 2nd position).
- Set Your Unit Stake: Enter the base amount of your bet (e.g., $1 or $2). The calculator will show you the total ticket cost.
Understanding Exacta Bet Types & Examples
To profit from horse racing, you need to understand how the cost of your ticket scales with the number of horses you play. Here are practical examples of how the math works.
1. Straight Exacta
This is the simplest bet. You pick Horse #5 to win and Horse #2 to run second.
- Combination: 5-2.
- Cost: $2.00 (for a standard $2 unit).
- Risk: If they finish in reverse order (2-5), you lose.
2. Exacta Box Example
A “Box” bet removes the need to predict the exact order. Let’s say you like three horses: #1, #4, and #7.
- Combinations Covered: 1-4, 1-7, 4-1, 4-7, 7-1, 7-2.
- Total Combinations: 6.
- Calculation: 3 horses × 2 = 6 bets.
- Total Cost ($2 stake): $12.00.
Formula for Exacta Box Cost: Horses × (Horses - 1) × Stake
3. Exacta Wheel (Key) Example
A “Wheel” is efficient when you have a strong favorite. Suppose you are sure Horse #3 will win, but you think #2, #5, or #9 could come in second.
- Key: #3 Over #2, #5, #9.
- Combinations Covered: 3-2, 3-5, 3-9.
- Total Cost ($1 stake): $3.00.
This is much cheaper than boxing all four horses (which would cost $12 for a $1 bet), maximizing your ROI if your key horse wins.
Frequently Asked Questions (FAQ)
What is the minimum stake for an Exacta?
At most US tracks, the minimum wager for an Exacta is usually $2.00. However, some tracks allow $1.00 Exacta boxes or wheels to help bettors keep ticket costs down.
Is an Exacta Box better than a Wheel?
It depends on your handicapping. An Exacta Box is safer because any combination of your horses wins, but it gets expensive quickly (a 5-horse box costs $40 at a $2 stake). An Exacta Wheel is cheaper and offers better value, but you lose everything if your “Key” horse doesn’t win.
What does “Probable Payoff” mean?
On the tote board at the track, “Probable Payoffs” usually show the potential payout for Exacta combinations based on the current betting pool. Remember, payouts are determined by the final odds when the race starts, not when you place the bet.
How much does a 4-horse Exacta Box cost?
A 4-horse Exacta Box contains 12 combinations (4 × 3).
At a $1 stake, it costs $12.
At a $2 stake, it costs $24.