The exacta is still a good wager. You can win even if your horse doesn't win.
With the Double, Pick 3, etc, you have to pick several winners in a row.
With the superfecta, you not only have to pick the winner but the three horses that come in under it.
With the exacta, if you key a horse with one or two horses, it can finish second and you can still get a profit, so you can win, even if your horse didn't win.
The only way you can do that with trifectas and superfectas is to play a lot more combinations. With the exacta, you can use your horse first and second without spreading too thin.
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