Exotic bet: Meaning, types & how to place exotic bets
Exotic bets are a special breed that can make gambling more exciting for veteran punters, especially those searching for the smartest bet in horse racing. In this exotic betting guide, we pay close attention to these markets and teach you how to pick winners even if you are betting on the first race ever.
As you learn how to bet on horses, we provide educated betting advice that will help you place the best exotic horse racing bets and make a profit by predicting how horses finish.
💡 What is an exotic bet?
🥇 Best bookmakers for placing Exotic bets in 01 November 2023
🔎 How do exotic bets work?
Exotic wagers work by allowing you to place a bet on the outcome of multiple events, rather than just one event.
✅ To win the bet, all of your exotic multi bets must be correct, so if any of your predictions on the horse to win are incorrect, the entire bet is lost.
✅ To place an exotic bet, you will need to choose the type of exotic bet you want to make and select your predictions for the various events.
✅ The odds and potential payouts for exotic bets can vary widely, depending on the complexity of the bet and the likelihood of the predicted outcomes occurring.
Types of exotic betting 🗂️
Now that you know what an exotic bet is and have basic knowledge about how exotic bets work, it is time to broaden your horizons. There are several types of exotic bets involving one horse, two or three horses as well as multiple combinations that imply more horses. These are the most popular ones:
Quinella
A bet on two horses to finish first and second in a race. The order doesn't matter.
Exacta
A bet on two horses to win first and second places, but they need to finish in the order you selected.
Trifecta
A bet on three horses to finish first, second, and third in a specific order.
Superfecta
A bet on four horses to finish first, second, third, and fourth in a specific order.
There are other types of exotic bets, like the Daily Double, Pick 3, Pick 4 or Pick 6, where you can bet on the winners of 2, 3, 4 or 6 consecutive races at an event. There are also multi race bets, also known as multi-leg bets or parlays, are a type of exotic bet that involves predicting the outcome of multiple events, rather than just one. In a multi race bet, you place a single wager on the outcome of multiple races or events and all predictions must be correct
Tips and tricks on how to win at exotic betting online 💯
Exotic horse racing wagers can be more difficult to win than traditional types of bets, as they require a greater degree of accuracy. Punters are advised to start with a single horse that must win and a specific race, rather than place multiple tickets and try to figure out the exact order or the correct order, as this increases the complexity of the winning combinations. However, there are a few tips and tricks that can help you increase your chances of winning after you understand the basic horse betting terms:
Tip
👉 Use betting tools: There are various betting tools available online that can help you analyze the odds and make informed betting decisions, such as an exotic horse race betting calculator.
👉 Set a budget and stick to it: It’s important to set a budget for your exotic horse racing betting and to start with the minimum wagers, to avoid overspending.
👉 Be strategic: Consider the potential payouts and odds for exotic bets and choose the ones that offer the best value for your money, whether you place standard bets or bet on multiple horses.
How to place an exotic bet 👨🏫
To place an exotic wager, you will need to decide on the type of bet you want to make and the events or outcomes you want to bet on. Our betting advice is to start with the minimum wager amount as the risks involved betting on additional horses tend to grow. If you have just learned how to place a bet online and are still new to horse racing, here are some steps you can follow to create your exotic bet:
Choose the type of exotic wager
There are many different types of exotic wagers available, including straight bets, quinellas, trifecta bets, superfectas, and parlays.Select the events or outcomes you want to bet on
Decide on the events or outcomes you want to include in your wager. You can choose a single race, two consecutive races or a multi-leg bet on horse racing, so you must choose the winners of multiple races.Calculate the odds
Determine the odds for each event of the popular exotic bets you have selected. You can use online odds calculators for the horse racing wagers or consult with a bookmaker to get the best odds guaranteed on horse racing.Determine the potential payout
Calculate the potential payout for your exotic horse racing bets based on the odds and the amount you want to place on the potentially winning ticket.Place your bet
Once you have all of this information, you can place your bet on the Kentucky Derby or other events in horse racing, accepting exotic wagers. You can pick one of the bookmakers we recommended above.Should you place an Exotic bet? Advantages and disadvantages
PROS
- The potential for larger payouts
- More exciting than traditional bets
- Greater variety of betting options
- Exotic betting tips are also available online
CONS
- More difficult to win and riskier
- More complex than traditional bets
Betting strategies for exotic bets 🎯
If you are ready to take advantage of the best exotic bets, you should choose a licensed bookmaker and proceed. These horse racing exotic betting strategies can help you succeed when betting on more than one horse and grow your options well beyond the basic exacta bet.
Frequently asked questions about exotic bets 🤔
A quinella bet, which involves selecting the first and second place finishers in any order, may be easier to win than other exotic bets online.
Exotic bets generally have fixed odds, which means that the potential payouts for the bet are determined in advance and do not change based on the number of people who place the bet.
The odds for an exotic bet are typically based on the likelihood of the predicted outcomes occurring, and are used to determine the potential payout for the bet.
It is not possible to reduce the cost of exotic boxes, as they are fixed based on the number of combinations included in the wager, but you can level the playing field with bonuses and promotions.
Some sportsbooks and online casinos offer jackpots for exotic betting, where players can win large cash prizes by making successful exotic wagers on specific events or sports.
Not all online betting sites offer exotic horse race betting. Some sites may focus on traditional betting options, such as moneyline bets or point spread bets, and may not offer exotic wagers.
Take gambling to the next level with Exotic bets 🚀
Simplicity is usually the answer punters should seek when betting online, but this doesn’t mean that exotic bets should be avoided. With a little bit of help and research, you can thoroughly understand how they work and harness their power to place successful wagers online. After reading our exotic betting review and guide, you should be able to place winning bets and enjoy significantly bigger profits than if you were to gamble exclusively on single horses.
