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Beating the exacta

In: Exotic Betting at the Racetrack

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  • William T. Ziemba

Abstract

The exacta is the most popular bet at the racetrack that combines the results of two separate horses. Tracks have responded to this popularity by offering more and more exacta wagers. For example at Golden Gate Fields in California, there are seven exactas on each day’s card. On the 1985 Kentucky Derby card there were eight including one on the Derby itself. To win you must select the first two horses — the winner and the second place horse — in exact order. Hence the name exacta. This bet is also called the exactor or perfecta or perfector depending on the locality. It’s usually a $2 or $5 bet, although at some tracks such as those in Louisiana it can be for $3…

Suggested Citation

  • William T. Ziemba, 2019. "Beating the exacta," World Scientific Book Chapters, in: Exotic Betting at the Racetrack, chapter 8, pages 129-154, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789813278790_0008
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    More about this item

    Keywords

    Efficient; Inefficient; Racetrack; Betting; Market; Exotic Betting; Race; Handicapping; Strategies;
    All these keywords.

    JEL classification:

    • A1 - General Economics and Teaching - - General Economics
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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