What is a Quinella bet?
A quinella bet is a wager in horse racing where you select two horses to finish first and second in any order. As long as the chosen horses occupy the top two positions, the bet is successful. Because finishing order does not matter, quinella bets are considered lower risk and typically produce smaller payouts.
For example, if you bet on Horse #4 and Horse #7 in a quinella and they finish 1st and 2nd (in any order), your bet wins.
Quinella payouts are determined through a parimutuel pool. Combinations involving popular horses may lead to lower returns, while less common combinations involving higher-odds horses typically pay more.
What is an Exacta bet?
An exacta bet also requires selecting two horses to finish first and second, but the finishing order must be correct. If the horses finish in the reverse order, the bet loses. Exacta bets are harder to win than quinellas and therefore usually offer higher payouts.
For example, if you bet on Horse #3 to win and Horse #7 to come second, they must finish in that order for you to win.
Exacta payouts are also based on parimutuel pools. The more difficult the combination, the higher the payout tends to be, especially when longshots are involved.
Quinella vs Exacta: side-by-side comparison
Feature | Quinella | Exacta |
|---|---|---|
Order Requirement | Horses can finish in any order (1st and 2nd). | Horses must finish in the exact order you predict. |
Difficulty Level | Easier to win since order doesn’t matter. | Harder to win because order matters. |
Payouts | Usually smaller, as it’s easier to win. | Typically higher, as it’s harder to predict correctly. |
Risk Level | Lower risk, lower reward. | Higher risk, higher reward. |
Betting Pool | Shares with all quinella combinations. | Shares with all exacta combinations. |
How payouts work in Quinella and Exacta bets
Both Quinella and Exacta payouts are determined through parimutuel wagering, where all bets of the same type are combined into a single pool. After the track or bookmaker deducts its take-out percentage, the remaining amount is divided among the winning tickets. This deducted percentage is often referred to as the Vigorish (Vig).
Example
- Quinella: A winning combination might return 3.50 (+250), meaning a £10 bet would pay £35 in total, including the stake.
- Exacta: A more difficult winning combination could return 8.00 (+700), meaning a £10 bet would pay £80 in total, including the stake.
Payout amounts depend on:
- Total wagering volume
- Popularity of combinations
- Presence of longshot selections
When to consider Quinella vs Exacta Bets
The use of Quinella and Exacta bets often depends on how predictable the finishing order appears in a race and the level of certainty regarding the top competitors.
Quinella betting may be suitable when:
- There is uncertainty in who will win, but confidence that two specific competitors will finish at the top.
- A bettor prefers a lower-risk approach
- Budget is limited, and a higher probability of return is preferred.
Quinellas are commonly used when there are two strong horses in the field, and distinguishing the likely winner is difficult.
Exacta betting may be more appealing when:
- There is confidence in predicting the precise finishing order
- Larger payouts are the priority.
- Race conditions or previous performance data suggest one clear standout competitor, followed by a secondary contender.
Exactas are commonly pursued by bettors willing to accept lower win probability in exchange for higher potential returns.
Key factors that influence Quinella and Exacta outcomes
Performance and race variables
Elements such as track surface, weather conditions, horse form, and jockey performance often influence race outcomes and should guide wagering choices.
Budget and risk approach
Those managing smaller budgets may prefer quinella bets for their lower risk, while exacta bettors may use multiple combinations or larger stakes to balance the higher difficulty.
Market and predictability
Market movements and pre-race odds shifts can indicate public sentiment and potential value opportunities. Races with clear favourites may favour quinellas, while unpredictable fields often offer stronger returns for exactas.
Conclusion
Quinella and Exacta bets both involve selecting the top two finishers in a race, but differ significantly in risk and payout potential. Quinella bets provide flexibility with lower risk, while exacta bets offer higher payouts in exchange for greater difficulty.
Understanding these differences helps bettors select a wagering option aligned with their confidence level and betting objective.
Frequently asked questions
Can I bet Quinella and Exacta on the same race?
Yes, you can place both Quinella and Exacta bets in the same race. Many bettors use this strategy to increase their chances of winning by covering more potential outcomes.
How are payouts determined?
Payouts are based on parimutuel pools. The total amount wagered on the bet type is divided among all winning tickets after the takeout percentage is deducted.
Which is better for beginners?
Quinella is better for beginners. It’s easier to understand, offers more flexibility, and gives you a higher chance of winning without needing to predict the exact finishing order.
Do Quinella and Exacta bets use fixed odds?
No. Both use parimutuel systems, where odds fluctuate until betting closes.
Do Quinella and Exacta payouts vary between races?
Yes. Payouts depend on pari-mutuel pools and race popularity. Larger pools can produce larger payouts, especially in Exacta wagers.