Exotic Bets

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Exotic Betting Explained

If you’re thinking about taking your horse racing betting experience up another notch, then exotic bets are certainly the way to go. The team at OnlyRacing provides exotics betting articles multiple times a week, so if you’re looking for tips, you’ve come to the right place.

Exotics betting is all about placing specific bets on the outcome of a race. It’s more than just simply placing a bet on the runner you think will win the race. Horse racing exotic bets are quite popular because even though they can be difficult to land, the potential payout can be a lot larger than the simple bets available.

These types of bets can be done across a single race, or across multiple races. It doesn’t matter if you’ve gone for a single race or a bet across multiple races, it can be an exciting (and lucrative) option for bettors. 

For single-race exotic bets, you have two options, they can be taken straight-up or boxed:

  • Straight-Out - This is where you pick the correct result, in the correct order (i.e. making single selections only).
  • Boxed - This is where you pick the correct results, in any order (i.e. making multiple sections).

Along with understanding the main options available for exotic bets, some other areas are important to be aware of before you start betting on exotics. This will ensure you have all the information and there aren’t any curve balls thrown when trying out something new.

Flexi Betting

You’ll find that flexi betting is available on all different exotic bet types. Flexi betting allows you to take a percentage of the dividend (also known as a full unit), which is a direct correlation between the amount of cash you are choosing to outlay.

For example, if a full unit costs you $100, you can take a percentage of that if you wish, say 25%, this means that you will be outlying $25. If a full unit is $1,000 and you wish to take 25%, the cost is $250. Flexi betting is a great way for you to get involved in bets that you may not have been able to previously.

Scratchings 

For exotic horse racing bets, you must keep an eye on scratchings. Scratchings happen all the time in horse racing and it can have a major influence on your bet. With exotics betting, if a runner in your bet is scratched, you will then automatically receive the nominated substitute.

The nominated substitute is the favourite on the tote that is relevant to the meeting you are betting on. Things can get a little tricky here, especially if you already have the substitute included in your selections. The rules for this will differ depending on which of the many betting sites you have placed your bet with.

You’ll find that some will simply adjust the percentage of the return you would receive, while others will refund a portion of your initial outlay. So, we certainly recommend understanding which path the bookie is going to take if this occurs, before placing any bets.

Understanding Bet Costs

The cost structure of exotics is pretty easy to understand if you think of it this way. One full unit equals the number of potential winning combinations that are included in your bet. It can sometimes be quite costly, so flexi betting comes into play as you can invest your desired amount (not needing to invest one full unit).

The calculation is a little different depending on if you are betting on a single race or multiple races. For any single-race exotic bets, this is done by multiplying the number of runners you have selected in each position. For multi-race exotics, this is done by multiplying the runners chosen in each leg.

Exotic Bet Types

There are so many different exotic bet types that are available for you to choose from. So, which one will you pick? Well, it’s a good idea to understand what each one specifically involves, then you can make your decision. Usually, live betting is not available for any exotic bet types in horse racing, so your choices need to be finalised before the race starts.

All the exotic bet types you should be across include:

Bet TypeDefinition
QuinellaFor the Quinella, you need to pick the first two runners across the finishing post, in any order. A Boxed Quinella is also available and is where you add three or more selections to your bet.
ExactaSimilar to the Quinella, except this time you have to pick the first two runners in the race in the correct order. Again, a Boxed Exacta is available, if you make three or more selections.
TrifectaHere, you need to pick the first three runners in the race, in any order. If you wish to pick the top three correct order, that is known as a Straight Trifecta. A Boxed Trifecta is where you add more than three selections to your bet.
First FourFor the First Four, you pick the top four finishers in the race. A Straight First Four is where you pick the first four finishers in the correct order. You can add more than four runners to your bet, which will increase the chances of winning and this is called a Boxed First Four.
DuetHere, you pick two out of the first three placegetters in the race, in any order. For a Duet bet, dividends are paid out for first and second, first and third and second and third.
Running DoubleWith a Running Double, you pick the winner of back-to-back races on the same track. Like with other bet types, you can select multiple runners to increase the chance of winning.
Daily DoubleTo be successful with a Daily Double bet, you need to pick the winner of two pre-nominated races on the same track. Usually, the Daily Double will involve the third last and last race on the card.
TrebleSimilar to a Daily Double, but now you are picking the winner of three predetermined races on the card, usually the last three races. You can add more than three runners to your bet, however, this will increase the cost of your bet.
QuadrellaAlso known as a Quaddie, this is where you pick the winner of four nominated races on the card. Quaddies are one of the most popular bet types going around, which means the total betting pool is quite large.
Big SixFor a Big Six, you need to successfully choose the winner of six races at a meeting. We usually see two different meetings covered, with the last three races at each meeting chosen.

Exotic Betting Strategies

If you want to go out on your own, there are some strategies and tips we can provide you, to hopefully make your experience a more profitable one. Remember, you don’t have to tackle exotics betting by yourself! We provide exotic tips multiple times a week and this includes reasoning and key stats as well.

Some of our main exotic betting strategies and tips include:

  • Make sure you have a full understanding of the risks involved. Does the risk outweigh the reward? There is a heightened level of risk involved, so even though the odds are enticing, exotic bets are more difficult to land.
  • Develop a solid understanding of all the different bet types available to you (which you can find in the section above).
  • Read the form before placing any bets. You should understand each runner's performance at the track, distance, strike rate and more before finalising any bets.
  • See if there are any betting promotions available as this can potentially counterbalance some of the risks involved. We have a full list of online bookmakers and go through some of the promotions available.
  • Read more general horse racing tips to get an idea of who the experts are choosing. OnlyRacing offers heaps of horse racing tips and provides guidance on the best betting apps to bet with.

Advantages of Exotics Betting

As we have already explained, exotics betting can be a high-risk strategy. However, there are certainly some advantages involved as well! With great risk comes even greater rewards. So, if you are brave enough, you could successfully reap the benefits.

Some of the main advantages of exotic bets in horse racing include:

  • First things first, the opportunity to win more money! This is the most obvious advantage as you will usually find enhanced odds for exotics markets. 
  • They can add additional excitement to your betting experience, as long as it is done responsibly.
  • Exotics are available in all three racing codes. So if you enjoy placing bets on horse racing, harness racing and greyhound racing, you can take advantage of exotics for all three.
  • Flexi betting is available to limit the amount of outlay required, meaning you aren’t required to have a massive bankroll to take advantage of exotics.

FAQs on Exotic Bets in Horse Racing

Got some more questions? Well, we’ve got some more answers! We’ve gone through all the most common questions people have about exotic bets in horse racing and answer them all right here in this section. 

What are exotic bets in horse racing?

Any bet that covers more than one runner and/ or one race is known as an exotic bet. Exotic bets are a great way to add more variety to your betting experience as they are more than the simple Win, Place or Each-Way bet. There is usually more risk involved with exotic bets, but the payout can be higher.

Are exotic bets available on greyhound and harness racing?

Yes, for harness racing and greyhound betting, exotics are also available! There is a similar range of options available to you as you would find for horse racing and there are plenty of greyhound and harness racing betting sites that will accept your exotic bets.

Do new betting sites offer exotic bets?

Yes, you’ll find that even new betting sites offer exotic betting options. Sometimes, they might not offer the full range of exotic options that you would see with more established bookies, but they have a decent enough range available, certainly enough to give them a try.

Which tracks allow for exotics betting?

You’ll be pleased to know that all tracks are available for exotics betting. The track itself doesn’t have much to do with the range of markets available, that more depends on the bookmaker. So, we have you covered for exotics at multiple tracks as we provide Randwick tips, Caulfield tips, Flemington, Sandown tips and more.

Which betting sites provide exotic markets?

All betting sites in Australia will likely offer at least some of the exotic markets listed in the table above on this page. The bigger the company, the more likely it is that it will have an even greater range of betting markets available. Even PayPal betting sites, for example, provide exotic markets to their customers.

How to withdraw winnings from exotic bets?

The withdrawal process for exotic bets is exactly the same. The range of withdrawal options available to you will depend on the bookie. Head to your account on the website or app, look for the withdraw button and choose how much you would like to withdraw. For more information on each betting site's payment method available, check out our page.

Can I live stream the races in my exotic bets?

Live streaming is available with some Australian bookies, so if you are with one of the bookies that offers this product, then yes, you do have the ability to live stream the races in your bet. There are other options available for live streaming, including through Kayo or free-to-air.

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