1. What Is An Exacta In Horse Racing
2. What Is An Exacta Key
3. What Is An Exacta In Horse Racing
4. What Is An Exacta In Horse Racing

Exact Path’s fully digital solution fits seamlessly in each situation to help meet students where they are and mitigate gaps in learning. See Our Brick-to-Click Model. Personalized Learning for All. Exact Path meets students exactly where they are to close discrete skill gaps and propel learning forward so that students below, on, and above. An Exacta bet in horse racing is the wager placed on which horses which will finish the race first and second, in the correct order. What is the Minimum Stake on an Exacta Bet? The minimum stake is usually $1 for an exacta bet, although some tracks do have a $2 minimum. Online Exacta bets have the same minimum stake as betting Exactas at the track. Given a function f( x, y) of two variables, its total differential df is defined by the equation. Example 1: If f( x, y) = x 2 y + 6 x – y 3, then. The equation f( x, y) = c gives the family of integral curves (that is, the solutions) of the differential equation. Therefore, if a differential equation has the form. For some function f( x, y), then it is automatically of the form df = 0, so. An Exacta is an exotic bet type that requires the punter to correctly select the horses that finish 1st and 2nd, in order. Picking the order correctly is what distinguishes an Exacta from a Quinella, with the latter requiring the punter to pick the first two horses home, in any order. How much does an Exacta cost? Quinella wagers are is a member of the exotic horse racing betting family, closely related to the Exacta bet.In a Quinella, however, the bettor is selecting two horses to finish first and second, in any order, rather than in an exact first-place + second-place order.

Get up to a $500 New Member Bonus

BUSR is the best site to bet on horses. Why? Because, all new members will get up to a $500 bonus for joining and you can also qualify for an extra $150 bonus!

Start your horse betting with BUSR today!

'Give me a $20 exacta, 3-7. I have have this in the bag.'

What is an Exacta, Exactor or Perfecta?

They are all one in the same.

At the ticket window, pick the two horses that will finish in first and second place in the EXACT order. You win your bet if the horses you pick finish in first and second place in the EXACT order.The minimum amount that can be wagered is $1 but keep in mind that payouts would be paid out at half as the odds are calculated at a $2 bet value.

Exacta Box

With an Exacta Box you will win your bet if the horses you pick finish in first and second place in either order with as many horses as you wish.

The minimum amount that can be wagered is $1 per combination. So a 2 horse exacta box at $1 will cost a minimum of $2. A further breakdown:

Exacta boxes they are the most popular method of playing exactas because they are easier to understand and offer the greatest chance of cashing a ticket.

It is important to note that this is not a wise betting strategy simply because all of the horses in the box do not have the same chance of finishing first or second. Your ticket may pay out at a loss.

Because exacta boxes rate each combination in the box as having the exact same probability of winning (which is never the case) they produce a bias in the exacta betting pools. It is this bias that smart bettors look for and try to take advantage of.

Exacta Wheels

Pick a horse to finish either first or second and wheel it in the exacta, you cover every combination so that if your horse finishes in the first or second position, you will have the winning combination.

For example, if you were to play a $1 exacta wheel with a 'key' horse of #3 to come first, the #3 horse would have to win and any of 1,2,4,5,6,7,8 would have to finish second in order for you to cash your ticket.

Or, if you think the 'key' horse #3 has a better chance of finishing second, you might play a $1 exacta wheel. In this case any horse in the race could win and the 3 horse would have to finish second in order for you to cash your ticket.

Either way, in an eight-horse field it would cost you $7 as you are wagering 7 separate $1 exactas betting horses 3-1, 3-2, 3-4, 3-5, 3-6, 3-7, 3-8 or horses 1-3, 2-3, 4-3, 5-3, 6-3, 7-3, 8-3.

Exactas can also be played as part-wheels where you might play a $1 exacta part-wheel horse #3 with 2, 4, 5 (three possible winning combinations of 3-2, 3-4, 3-5) at a cost of $3. Or you might play the part-wheel the other way, 2, 4, 5 with 3 (also three possible winning combinations of 2-3, 4-3, 5-3) at a cost of $3. Part exacta wheels reduce some of the bias of betting exacta boxes.

Exacta Betting Strategies

Through handicapping you determine horse #5 has a 50% chance of winning the race, horse #6 has a 20% chance of winning and horse #7 has a 10% chance of winning. You will be spending $60 on this race.

Option 1.
You play an exacta box of 5-6-7 which is 6 exactas at $10 each.

Option 2.
You play an exacta part-wheel keying #5 to win with 6, 7 and a second part-wheel with 6, 7 with keying #5 to place which is 4 exactas at $15 each.

What Is An Exacta In Horse Racing

Option 3.
You play an exacta part-wheel keying #5 to win with 6, 7 and a second part-wheel with 6, 7 with keying #5 to place based on the winning percentages you determined through handicapping: #5 at 50%, #6 at20%, and #7 at 10%.

Lets break it down by risk vs reward.

Option 1
The exacta box rates each possible combination as having the same probability of winning, which according to your handicapping is not correct.

Option 2.
The part-wheel in this case is more efficient, leaving out the less probable combinations of 6-7 and 7-6, but still rating both the 6 and 7 horses as having the same probability of winning or finishing second.

Option 3.
Offers the highest risk/reward ratio as determined #5 at 50%, #6 at20%, and #7 at 10%.

The results:
You killed it! The race ran exactly as your handicapping said it would – the 5 horse won and the 6 horse ran second. The $2 exacta 5-6 paid $20 so your returns are $10 per dollar wagered. Let's see your possible payouts:

Option 1. Exactor Box
$10 exacta 5-6 pays $100. $100 - $60 ticket cost = $40 Profit

Option 2. Part Wheel
$15 exacta 5-6 pays $150. $150 - $60 ticket cost = $90 Profit

Option 3. Part Wheel correlated to probabilities.
$30 exacta 5-6 pays $300. $300 - $60 ticket cost = $240 Profit

The final exacta wagering strategy, which places more money on the higher probability combinations as identified by your handicapping.

Due to bias in the exacta pools, it is best to avoid combining favorites or long shots in your exactas. The best payouts are for two medium-priced horses.

Most of the p-values we calculate are based on an assumption that our test statistic meets some distribution. These distributions are generally a good way to calculate p-values as long as assumptions are met.

But it’s not the only way to calculate a p-value.

Rather than come up with a theoretical probability based on a distribution, exact tests calculate a p-value empirically.

The simplest (and most common) exact test is a Fisher’s exact for a 2×2 table.

Remember calculating empirical probabilities from your intro stats course? All those red and white balls in urns? The calculation of empirical probability starts with the number of all the possible outcomes. For example, we can figure out the probability of rolling a value 10 or higher using a pair of dice by looking at how frequently a 10, 11, or 12 appears out of all possible dice rolls.

Players of craps and Settlers of Catan can easily tell you that there are 36 possible outcomes from a pair of dice:

Of those 36 possible outcomes, there are 6 ways to roll a 10, 11, or 12 (bolded above). So the empirical probability of rolling a 10 or higher is 6/36 = .167.

Exact tests calculate the empirical probability of getting an outcome as different or more from the null hypothesis as the outcome you observed in your data. That is the exact p-value.

What Is An Exacta Key

Let’s look at an example. The following 2×2 table displays a small sample (10 people). We’re interested in the relationship between poverty status and clinical depression status. Each cell represents a frequency count.

The Fisher’s Exact test, like the Chi-Square, tests the null hypothesis that Poverty and Depression are independent. If that’s true, then the proportion of people in and out of poverty should have the same proportion of depressed people. We see here the proportions are not the same—50% of those in poverty show clinical depression (2 out of 4), but only 33% of those not in poverty show clinical depression (2 out of 6).

What Is An Exacta In Horse Racing

If the proportions are different, that is evidence against the null hypothesis. The question is, are these proportions different enough to conclude that the variables are related?

Fisher’s exact calculates a p-value for this hypothesis in the following way: It counts all possible ways that 10 observations can fall into a 2×2 table with the same row and column totals as the observed table.

It then counts the number of tables that have proportions as or more different than the observed table. This is the exact p-value.

In this example, there are only five 2×2 tables that can have these particular row and column totals. So it’s a pretty simple calculation with small sample sizes.

But you can imagine that if the sample size got even moderately large (say 500), there would be a lot of back-end calculations, figuring out every possible table.

These calculations also get hairier as the size of the table gets bigger. So some software will only include exact tests for 2×2 tables, but that’s a software limitation, not a statistical one.

The best resource I’ve ever seen for exact tests (and there are many of them, not just Fisher) is the manual for StatXact software. It’s a standalone stat package for exact and non-parametric tests–and its manual is extremely helpful in describing not only the software, but the statistics for each test.

What Is An Exacta In Horse Racing