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One substantial difference between Derby exotic bets and sports parlays: sports betting parlays are usually considered to be a favorite wager of 'squares' and recreational players. That's not the case in horse racing where many high level handicappers specialize in trying to find value in exotic bets. There are two types of exotic bets in horse racing determined by the number of horses and/or races a player must successfully select. A vertical bet (eg: exacta or trifecta) requires the bettor to pick the top finishers in a specific race in the correct order. A horizontal bet requires the player to pick the winner of a set number of races. The daily double is a horizontal bet but bets involving as many as six or seven races are common today. One more thing worth mentioning-the terms we'll use to discuss the bet types below are the ones most commonly used in the United States. Occasionally, you'll come across one of the new forms of exotic wagering that are essentially a hybrid of the two and require a player to select multiple horses in multiple races. Many of these bets are known by other names in various parts of the world. If you're betting races at an international track it's a good idea to learn the local betting lexicon as there might be differences from what you're used to. For example, in certain parts of Canada what is known as an 'exacta' to American bettors is known as an 'exactor'. The expert strategy for exactas and other types of exotic bets is to make multiple wagers to 'cover' different results. 6 but are unsure about their order of finish. EXACTA: The exacta is the most popular multi-horse (vertical) wager and requires the bettor to pick the first and second place finisher of a race in correct order. One strategy in this situation is to bet every permutation of all three horses in the win and place spot.
