What Is An Exotic Bet In Horse Racing

Horse racing is an exciting sport that offers a vast amount of betting varieties for experienced punters and those who just like a flutter on a day out at the races.  Most people are used to the standard types of bets but it’s easy for bettors to be daunted purely by the number of types of bets available these days.

This brings us on to Exotic bets which offer a more complex type of bet that offers the potential for big rewards.  Exotic bets require bettors to select multiple horses across one or multiple races and predict their finishing order.  The number of horses chosen will depend on the type of Exotic bet you choose to do.  They are basically another type of Forecast bet.

During this article you will learn what Exotic bets are, how they work and different types of Exotic bets available on the UK horse racing markets.

Standard Bets & Exotic Bets

Before we get to the nitty gritty of Exotic bets, it’s important that you understand what differs standard bets from Exotic bets in horse racing.

Standard/Straight Bets

These types of bets are the most commonly used in UK horse racing and are by far the easiest to understand and place.  This is because you’re only betting on one horse in one race.  Standard bets are usually:

• Win: Back a horse to win a race.
• Each Way: Back a horse to win or finish in the number of places on offer by the bookie for the each-way market in that race.
  

Exotic Bets

Unlike standard bets, Exotic bets require you to bet on multiple horses across one or several races.  The complexities of Exotic bets mean getting a result is harder but the returns can be much more substantial.  You need to predict the finishing order of two or more horses. In fact, in some circles, anything other than a standard bet is considered to be an exotic bet but we will focus on the generic exotic bets.

One thing to mention is that Exotic bets are a Tote based bet meaning returns are based on the pool available at the end of the race. 

Types Of Exotic Bets

As mentioned, Exotic bets involve betting on multiple horses and come in different varieties.  Whilst some focus on a single race outcome, others cover multiple races.

Such is the global attraction of horse racing, you may find that the same type of Exotic bet may be referred to by different names.  It’s also possible that some bookies don’t offer markets for some of the Exotic bets.

Let’s go through the types of Exotic bets that exist in the horse racing industry:

Exacta

The first thing to know is that the Exacta bet is the same as a Straight Forecast bet but the returns are based on a dividend from the Tote pool. 

This bet is the easier of the Exotic bets in that you need to predict the horses that will finish first and second in a single race and they must be in the correct order. 

For example, if you bet on Horse A to win and Horse B to come second in the 7pm race at Kempton, they must finish in that order for you to win anything.

Exacta bets offer handsome rewards because they are difficult to predict and the odds are usually very generous.

Quinella

A Quinella bet is very similar to the Exacta bet in that you are picking two horses to finish first and second. The key difference here is that they don’t need to finish in the exact order to win returns. Effectively, you are betting on two horses to finish first and second in any order.

The Quinella bet is an ideal bet for those new to placing Exotic bets as it reduces the risk a little compared to an Exacta bet and is straight forward to place.  As you are improving your chances of winning, the odds won’t be as good as an Exacta bet but they still offer potentially good returns.

When searching for the Quinella bet markets, it’s likely that you will find the bet variation you need within the Exacta markets but it will show as the ‘Any’ option. This just means that instead of picking the correct order of two horses finishing first and second, you are choosing for them to finish in any order but in the top two finishers of a race.

Trifecta

In essence, a Trifecta bet is the same as a Tricast Bet but just like the Exacta bet, the odds and returns are driven by the Tote.

With a Trifecta bet you will need to predict the top three horses past the winning post in the correct order. There are no hidden twists to this bet, if you don’t predict the first three race finishers in the correct order, your bet loses.

As you can imagine, predicting the top three race finishers in exactly the correct order is somewhat of a challenge and to be honest, quite rare.  This is why the payout from Trifecta bets is usually very substantial.  Should you land one, it could well be party time!

Alternative Trifecta Bet

As the Quinella bet was an alternative to the Exacta bet, the Trifecta bet also offers a twist in variation.  You can also place a Trifecta bet to predict the top three horses to finish in any order.  Provided all three cross the line before any other horses, the bet wins.  This is essentially identical to a Combination Tricast bet but it’s a Tote bet rather than the markets being provided by the bookmakers.

Because the Combination Trifecta gives you a little more breathing space than the normal Trifecta bet, the odds and potential returns won’t be as generous.  That said, these are still notoriously difficult to predict and therefore, can provide big payouts to winning bets.

Swinger

The Tote Swinger bet requires bettors to pick two horses from the same race that they predict will finish in the top three places. Regardless of where they finish, provided they both finish within the top three positions, the bet is a winner.  The combinations of first and second, first and third and even second and third will bring home the bacon. The beauty of this unusual bet is that you don’t even need to pick the winner of the race.  This makes it an ideal bet if you’ve studied the form of horses in a race and you fancy two horses to do well.

You can only place a Swinger bet if the race has at least six horses running and you’re not limited to just UK horse racing, you can place Swinger bets on a lot of international races.

A Swinger bet can be particularly appealing when you think an outsider will do well in a race but you’re not sure if it will win.  With a Swinger bet you could consider pairing up your outsider with a horse the markets are suggesting will do well. Alternatively, you could go for two longer odds choices that look promising. Using this approach can be quite lucrative as not many punters will have chosen this combination meaning the Tote dividends can be very generous.  This can be a great alternative to a simple each-way bet as if they both placed, the payout might not be as good due to the each-way terms on offer.  In addition to this, third place isn’t always covered by the bookies when there are only six runners.

One thing to add about Swinger bets is that you aren’t limited to just picking two horses. You can also place what is called a Combination Swinger but this will increase your unit stake as follows:

• A £1 Standard Swinger bet on two horses will cost £1
• A £1 Combination Swinger on three horses will cost £3
  
• A £1 Combination Swinger on four horses will cost £6
  
• A £1 Combination Swinger on five horses will cost £10
  

It’s recommended that less experienced bettors begin with the normal Swinger bet.

Superfecta

The Superfecta bet isn’t something the Tote offers in the UK and is better known in the United States of America so this is a brief overview of what the bet is.

The Superfecta bet takes it to the next level as bettors need to correctly predict the first four past the post in the correct order.  As you can imagine, this type of bet is extremely challenging and very rarely comes in.  For that reason, the potential payouts are quite astronomical.

Another permutation to this bet is a Superfecta Box Bet which is basically a combination bet.  This means you need to predict the top four finishers but they can finish in any order provided they are all within the first four over the finishing line.

How To Place Exotic Bets

As briefly mentioned earlier, not all bookies offer Exotic bets. This could simply be down to them not wanting to collaborate with the Tote.  One place you are guaranteed to be able to place these Exotic bets is at the Tote.  Once upon a time, Tote used to have high street shops but that is no longer the case.  However, you usually find a Tote at most UK race courses.

Other bookies that offer Exotic bets include Bet365, Betfred and Ladbrokes.  If you want to venture into placing Exotic bets, it’s worth looking around to see if your favoured bookies offer those types of bets.

As they don’t all look the same on the bookies websites, we will spread our examples across the three bookies we have already mentioned.

So, let’s look at how to place these Exotic bets. 

Exacta Bet

As we know, with an Exacta bet you are choosing the two horses you predict to finish first and second in a race. For this example, let’s use Bet365.

Once you click on any racecard you will usually be presented with the same betting options.  In this case you need to choose the Exotics tab as highlighted. Once you click on the Exotics tab you will see the Exacta options. You just need to pick the horses you predict to win and come second and add them to your bet slip.

When you add them to the bet slip you will not be provided with any odds or details of returns as they are determined by the Tote.  Instead, you are given a guide price next to the horses as an indicator to what the current market odds are approximately.

From here you add your stake to your bet slip and place the bet as you normally would.  

Quinella / Exacta Combination Bet

For this example, let’s use the same race and selections as we did with the Exacta bet but place the bet with Betfred.  When you enter the Betfred website, you will see a Tote menu option at the top. Once you click on that, it will show you the horse races available to bet on the Tote markets.

The layout and terminology is slightly different this time.  To place the Quinella bet, click on the ‘Exacta’ button and then selection the ‘Combination’ option.  All you need to do then is pick your two horses from the ‘Any’ column, enter your stake and place the bet.

Trifecta Bet

For this example, let’s use the same race as we did with the Exacta bet but place the bet with Ladbrokes.  Again, Ladbrokes has a slightly different approach to bet365 and Betfred.  This time, you access the racecard as you normally would and then scroll across the menu at the top of the racecard until you see the heading ‘TOTEPOOL’.  When you click into this you will then see the ‘Trifecta’ tab.

With the Trifecta bet you need to select the three horses you think will finish first, second and third. Once you have decided on your three selections add them to the bet slip, add your stake and place the bet. 

Trifecta Combination Bet

With the Trifecta Combination bet you need to navigate to the same place as the Trifecta bet.  However, this time you are picking three horses and selecting them in the ‘Any’ column.  Placing this bet means that your choices of horses can finish in the top three in any order but all three must finish in the top three for the bet to win.

Swinger Bet

Hopefully, you’re fully drilled on finding the Exotic bets section now. You might have noticed the Swinger section in the previous examples of Exotic bets. If not, you need to pick the race you want to bet on and click on the ‘Exotics’ tab and you will see the ‘Swinger’ column.  From here, just pick the two horses you fancy to come in the top three, add them to the bet slip, enter your stake and place the bet.

Calculating Returns

Let’s cut to the chase, you can’t calculate your returns with Exotic bets. Most bookies will give you a guide price (odds) but it’s not a given or to be relied on.  This is because Exotic bets returns are calculated using a pari-mutuel system.  This system pools all the money that bettors have placed on a specific bet and then pays out a dividend to any winning bets.  However, the Tote don’t do this out of the goodness of their heart, after all they are a business.  The Tote will deduct their taxes and fees from the pool (which is typically approximately 27 to 29%) before declaring the dividend.

PLEASE NOTE – if there is no winner from the event/exotic bet you have placed, the fund in the pool will roll over to another qualifying event.  Therefore, it’s important to make sure you know what the next qualifying event is. It’s worth checking the Tote website and their media channels. 

The Positives And Negatives Of Exotic Bets

As with any type of bets, Exotic bets have their advantages and pitfalls.  Let’s have a look at what you might want to keep in mind when adding Exotic bets to your betting strategy:

Positives Of Exotic Bets

• Bigger Returns: A big incentive to place Exotic bets is the potential for big wins. In comparison to run of the mill bets, Exotic bets, especially Trifecta bets, can offer insane returns. This can be especially true of big racing events like the Cheltenham Racing Festival when there are thousands of punters at the track using the Tote for bets.
• Variety: With the various types of Exotic bets on offer, bettors can choose the type that suits their experience level, risk tolerance and bank roll.
  
• Utilising knowledge: More experienced bettors who have an in-depth knowledge of horse racing can utilise their knowledge to enhance their chances of success. Knowing about different jockeys, trainers, horses and tracks can be a big advantage to making the correct predictions.
  

Negatives Of Exotic bets

• Winning Probability: Because Exotic bets require betters to predict multiple outcomes, they are a lot harder to win than a standard bet. Picking the first three over the finishing line is so much harder than picking a single winner.
• Difficulty: Betting on multiples is more suited to experienced bettors as less experienced bettors may find them confusing at first. To stand any chance of success, Exotic bets will need a level of research and analysis doing before making informed decisions.
  
• Cost: Standard Exotic bets are very transparent in terms of the stake being placed. However, once you venture into the different combinations (also known as Box Bets), the costs can soon ramp up. Always check your bet slip before placing your bets and never chase losses.
  

Summary – Are Exotic Bets For You?

Exotic bets offer bettors an alternative to standard bets with an extra level of excitement.  Conquering the complexity and challenge of Exotic bets has the potential to be extremely rewarding in terms of kudos and financial rewards.

Exotic bets offer experienced punters an exciting way to use their skills and knowledge to increase their betting bankroll.  The key to standing any chance of success with Exotic bets is research.  It’s highly recommended that bettors do thorough research on every aspect of the markets they plan to bet on. Add you research to a well-considered strategy and you stand a chance of success.

Remember – Exotic bets are an addition to your betting strategy and should not be your sole focus in any strategy.