FAQ # 23

The Exacta Matrix has the contender’s names across the top and also down the left side. Each cell in the matrix corresponds to the Exacta combination that has the horse on the left side as the winner and the horse on top as the place horse. For example, if we have five contenders, the possible win/place combinations would be as shown below.

Horse A

Horse B

Horse C

Horse D

Horse E

Horse A

xxxxxx

A/B

A/C

A/D

A/E

Horse B

B/A

xxxxxx

B/C

B/D

B/E

Horse C

C/A

C/B

xxxxxx

C/D

C/E

Horse D

D/A

D/B

D/C

xxxxxx

D/E

Horse E

E/A

E/B

E/C

E/D

xxxxxx

Again, this represent all the possible win/place combinations of all the contenders in the race.

As you know, ALL-ways creates an oddsline for every race. So, every horse has been given a probability of winning the race. There is a mathematical formula, based on these win probabilities, that can be used to approximate the "fair" payoff for each win/place combination. By "fair" we mean the payoff is commensurate with the risk. Theoretically, if you always were paid the "fair" Exacta payoff, over the long haul, you would break even on your Exacta wagers. But, we are not in this to break even. Therefore, we want an Exacta payoff that has some kind of premium above the "fair" payoff. Many professionals will tell you they are looking for a 50% premium. So, if the "fair" Exacta payoff is $22, they would not make the bet unless the Exacta was going to pay $33.

ALL-Ways shows you these two numbers for each possible win/place combination. The number on the left is the "fair" payoff. The number on the right is the premium payoff that we recommend you demand before making the wager. Let’s look at the Exacta Matrix with some real numbers in it. The oddsline created by ALL-Ways has Horse A as 2 to 1 and Horse B as 5 to 1. For the Exacta combination of Horse A as the winning horse and Horse B as the place horse, the fair exacta payoff would be $24 and the 50% premium payoff would be $36.

	Horse A	Horse B	Horse C	Horse D	Horse E

Horse A 2-1	xxxxxx	24 36	24 36	28 42	36 54
Horse B 5-1	30 45	xxxxxx	60 90	70 105	90 135
Horse C 5-1	30 45	60 90	xxxxxx	70 105	90 135
Horse D 6-1	36 54	72 108	72 108	xxxxxx	108 162
Horse E 8-1	48 72	96 144	96 144	112 168	xxxxxx

We always want to wager when there is value. Specifically, we are looking for Overlays. The Exacta Matrix will help you find these Overlays for your Exacta wagers. All you need to do is to look at the probable Exacta payoffs shown on the monitors at the track and compare them to the figures in the Exacta Matrix. If there is a premium payoff, then bet the Exacta. If not, do not.