Exploring Exotic Wagers: Beyond the Basics

Exotic betting allows you to get creative with your sports wagers. Make prop bets on team and player performance, or predict the exact finishers in a horse race for bigger payouts. The top betting sites allow exotic wagers every step of the way. 

What is an Exotic Wager?

Let’s explore the basics of an exotic wager first. In horse racing, exotics are bets on the precise outcome of a race. To win, you must predict the right finishers, oftentimes in the right order. Exotics are great for higher potential payouts, as with parlays/accas, but the risks are greater.

In sports betting, exotics refer to more unusual betting based on the player’s or team’s score during a game. It doesn’t matter what the final score is: sports exotics are concerned with a specific outcome in one or more portions of a game or match. 

Exotic Betting in Horse Racing

Exotic wagers are most common in horse racing, particularly in Tote betting where prize money is pooled and distributed after a race. They differ from standard win or place bets as they require you to predict the finishing order of horses. Here are some popular exotics you can bet on in a standard horse race:

•    Exacta: 1st and 2nd, in correct order
•    Quinella: 1st and 2nd in any order
•    Trifecta: 1st, 2nd, and 3rd, in correct order
•    Boxed Trifecta: 1st, 2nd, 3rd in any order
•    Superfecta: 1st, 2nd, 3rd, 4th in correct order

Here are some simple tips for making winning exotic bets in horse racing. Remember that exotics use the pool system to distribute prize cash after a race. This is also known as pari-mutuel betting in the US.

It differs from traditional fixed-odds sports betting where it’s just you vs. the bookmaker, and where the odds don’t change. In pooled exotics, the odds can change after you’ve made a bet.  

#1: Decide What Exotics to Go for First

Don’t go into exotics wagers blind. Stary by carefully selecting a race with two or three reliable horses that have good form on that track. You can start with Quinellas including two favourites, or choose one hot favourite and a slightly longer shot to bump up the odds.  

#2: Check the Form & Statistics

Checking form is vital, whatever exotic you go for. Online sportsbooks with horse racing odds offer full stats and form on every horse, jockey, and course. We also recommend checking our racing tips here at Sportsboom.

A good tip is to choose horses that came 1st and 2nd in their previous 6 races. Try to find out the ground type for the horse’s previous results too, then compare it to the going on the race you’re betting on.

#3: Stick to Small-Field Flat Races

Exotics are hard to predict in races with large fields. The best bet is to keep to more predictable flat races where unpredictable jumps can upset the results. Start with exotics on races with 8-9 horses and see if your research pays off.

#4: Settle for Boxed Exotics

Boxed exotics are great for spreading your bets. You win on the boxed exotic if your horse comes in any order.

For example, you might go for a boxed trifecta on horses 2, 5, and 7, like this:

•    Outcome 1: 2-5-7
•    Outcome 2: 2-7-5
•    Outcome 3: 7-2-5
•    Outcome 4: 7-5-2
•    Outcome 5: 5-2-7
•    Outcome 6: 5-7-2
At $1 a bet, you’d be betting $6 to cover 6 possible permutations. However, if you’ve done your research and picked a long-shot contender, you stand to win a lot more.

#5: Don’t Dismiss the Fixed Price Exotics

Some online sportsbooks offer exotics on horse racing. Instead of a pari-mutuel style/pooled structure, they offer fixed-price exactas and quinellas. The bookmaker displays a guide price which you accept when you place your bet. Often, these fixed prices can represent good value to take there and then.