<p>Exotic bets are a cornerstone of the racing world. They allow punters to get creative and place wagers on specific and fascinating outcomes.</p> <p>There are many different types of exotic bets, some that can be a tad confusing to first-time punters. That’s why here at Sportsbet we’ve created this guide explaining the different types of exotic bets as part of our Punter IQ series.</p> <p>It’s time to stop confusing your Quaddies and your Quinellas, read on to learn all about exotic bet types and answer the age old question, what are exotic bets? - this is Exotic Bets Explained.&nbsp;</p> <p>&nbsp;</p> <h2>What is an Exotic Bet?</h2> <p>&nbsp;</p> <p>An exotic bet is a bet type available to punters who are wagering on racing. The main characteristic of an exotic bet is that it requires you to bet on multiple runners.</p> <p>The order and combination of runners varies between each type of exotic bet. So, the makeup of a Trifecta is different to that of an Exacta, but more on that in a moment.</p> <p>The other main characteristic of exotic bets is that they are usually exclusively tied to a tote. Short for totalisator, a “tote” is a cumulative pool where all bets of the same type for an event or race are placed.</p> <p>This pool is then divided among the winning bets. So the more money bet on a race and a specific type of exotic bet, the bigger the tote and the bigger potential dividends. For more information on tote betting and how it relates to the world of exotics check out our <a href="https://www.sportsbet.com.au/huddle/punter-iq/guide/what-is-tote-betting">What is Tote Betting</a> guide.</p> <p>&nbsp;</p> <h2>Straight vs Boxed Exotic Bets</h2> <p>&nbsp;</p> <p>For some exotic bet types, punters can choose between making them “straight” or “boxed”.</p> <p>A straight exotic bet is the more challenging and profitable of the two. It may be challenging to land, but it’s simple to understand. Playing an exotic wager straight up means you have to correctly pick the correct order of your runners. Whether that be three, four, five or more.</p> <p>A boxed exotic bet allows you to pick as many runners as you like to finish in the paying places, but in any order.</p> <p>So, for example, in a boxed Trifecta three of the horses you have nominated simply have to finish 1st, 2nd and 3rd in any order.</p> <p>Obviously, a boxed exotic has a higher chance of hitting than a straight one, so your return on investment will not be as great.</p> <p>&nbsp;</p> <h2>Different Types of Exotic Bets in Horse Racing</h2> <p>&nbsp;</p> <p>There are many different types of exotic bets available to Sportsbet punters on both our app and website. Luckily for you, all of these work perfectly with a punt on the ponies.&nbsp;Here are some of the most popular:</p> <p>&nbsp;</p> <h3>Trifecta Exotic Bet</h3> <p>Few people realise it but Trifecta’s are actually a form of exotic bets. A Trifecta requires punters to select the three horses that they think will finish 1st, 2nd and 3rd in a specific race.</p> <p>As previously mentioned, there are two main types of Trifecta bets that patrons are able to place – straight or boxed. For punters feeling extra lucky, there is a mystery Trifecta which results in boosted odds but leaves the horses selected in your Trifecta to chance.</p> <p>For more information check out our <a href="https://www.sportsbet.com.au/huddle/punter-iq/guide/what-is-a-trifecta">What is a Trifecta</a> Punter IQ guide.</p> <p>&nbsp;</p> <h3>Quinella Exotic Bet</h3> <p>A touch easier to land than a Trifecta, a Quinella consists of selecting two horses to finish 1st and 2nd in a specific race in any order.</p> <p>While Quinellas are a form of tote betting as are all exotics, here at Sportsbet for selected races, we also offer fixed odd Quinellas.</p> <p>Keen to learn more? Check out our <a href="https://www.sportsbet.com.au/huddle/punter-iq/guide/what-is-a-quinella">What is a Quinella</a> Punter IQ guide,</p> <p>&nbsp;</p> <h3>Quaddie Exotic Bet</h3> <p>One of the most well-known exotic bet types, a Quaddie, or a Quadrella as it is officially called, requires punters to pick the winner of four consecutive races.</p> <p>Quaddies are a step up in terms of difficulty from a lot of exotics, but the potential dividends are a step up as well. To mitigate the difficulty of a Quaddie, Sportsbet offers Multiple Quadrellas.</p> <p>This allows punters to select multiple runners to finish first in each race as opposed to just one. Obviously, Multiple Quadrellas pay less than traditional ones for every runner you add.</p> <p>To learn more about both traditional and multiple Quadrellas, have a gander at our <a href="https://www.sportsbet.com.au/huddle/punter-iq/guide/what-is-a-quaddie">What is Quaddie </a>Punter IQ guide.</p> <p>&nbsp;</p> <h3>Exacta Exotic Bet</h3> <p>Moving on to the Exacta exotic bet, the clue for this one is in the name. An Exacta is a type of exotic racing bet that requires you to pick the first two finishers of a race in the correct order.</p> <p>You must select the runner that will finish first and the runner that will finish second, in the EXACT order. Yes, that is where this bet type’s name is derived from.&nbsp;</p> <p>As always, you can select multiple runners if you wish and box your Exacta. To find out more read our <a href="https://www.sportsbet.com.au/huddle/punter-iq/guide/what-is-an-exacta-bet">What is an Exacta Bet</a> Punter IQ guide.</p> <p>&nbsp;</p> <h3>First 4 Exotic Bet</h3> <p>The final exotic bet we are going to cover is the fabled First 4. Similar to a Trifecta, think of a First 4 as its evolved form.</p> <p>To successfully land a First 4, punters must select the first four runners of a specific race in the exact order they finish.</p> <p>Selecting just four horses and assigning each of them a finishing position of either 1st, 2nd, 3rd or 4th is the simplest and most lucrative version of a First 4.&nbsp;</p> <p>This is of course the straight version of a First 4 and yes, you can box First 4s if you so wish.</p> <p>Head over to our <a href="https://www.sportsbet.com.au/huddle/punter-iq/guide/what-is-a-first-4">What is a First 4</a> Punter IQ guide to learn more.</p> <p>&nbsp;</p> <p>If you are interested in an exotic bet, <a href="https://www.sportsbet.com.au/huddle/punter-iq/guide/how-to-bet-on-horses-a-horse-racing-betting-guide">click here</a> for our guide on How to Bet on Horse Racing.</p>