An exacta, also called a forecast in some countries, asks the bettor to name the first and second finishers in order. It is harder to land than a simple win bet, so it pays more. A boxed exacta covers both orders for a higher total cost. Payouts in pool betting are not fixed in advance. They depend on how much was bet in total and how many other bettors chose the same result, minus the track’s takeout.
Example
A 2 unit exacta on horses A then B costs 2. A 2 unit boxed exacta on the same two horses costs 4, because two orders are covered.