Handicapping Fundamentals: Exotic Wagering Explained

It's 2007 and handicapping has certainly changed over the last several decades. The most notable change in how a handicapper wagers involves exotic bets. If you are a novice handicapper, you might not be aware of what exotic bets are or how to place them. Below you'll find some tips on placing exotic wagers. Whether you intend to be a track regular or are planning a one-day visit, the following tips on exotic wagers should be very useful.

Single race exotic bets basically consist of the following wagers: exacta, trifecta, and superfecta. An exacta is when you choose two horses to win and get 2nd place. Win means that the horse crosses the finish line first, 2nd place is the horse that cross the line next. If you can identity two horses you think might do very well in a particular race but you are unsure which horse will finish first, you can box your exacta. An exacta boxed means that you will win your bet if both horses place, but it doesn't matter in which order the horses finish. The trifecta expands the exacta to include the third place runner. The superfecta expands the trifecta to include the fourth place runner.

Multiple race exotic bets include the Daily Double, Pick 3, Pick 4, and Pick 6. The Daily Double involves picking the winners for two consecutive races. All tracks have a Daily Double on their exotic wagering menu. There will always be an early daily double on the first and second races, and a late daily double on the last two races. Several modern racetracks roll the daily double throughout the card. This simply means that the daily double bet is available on all races throughout the day. The Pick 3, Pick 4 and Pick 6 follow the same logic as the daily double except it is expanded to 3, 4, or 6 races, respectively. The important concept to remember is that Pick 6 will pay out on five out of six correct horses. Also, keep in mind that you get a refund or consolation payout if one of your horses scratches on a live ticket.

As you can see, exotic wagers could become very costly and complicated rather quickly. Exotic wagers certainly add a lot more excitement compared to traditional win, place, and show wagering. In a future article, I will explain some strategies for attacking exotic wagers with your hard earned bankroll.