exactas

Exactas are a form of horse racing wagering in which the bettor must predict the first and second finishers of a race in the exact order.

A straight exacta requires selecting a specific first-place horse and a specific second-place horse; if those two horses finish first and second in that order, the ticket wins. An exacta box covers multiple orderings by including more than one horse; for a two-horse box (A and B) the bet covers A-B and B-A, while a three-horse box covers all six possible orders.

Other variants include the exacta key, where a single key horse is paired with several options for the second place, forming multiple winning combinations from one base selection.

Exacta wagers are typically offered on pari-mutuel pools at thoroughbred and harness tracks. Payouts are determined after the race by the size of the pool and the number of winning tickets, less the track’s take. If there are no winning tickets, the pool may roll over to the next race.

Related bets include the quinella (first two in either order) and the trifecta (first three in exact order). Exacta play requires careful assessment of form, track conditions, and race dynamics, but remains one of the more common and strategic bets in horse racing.