Yes. Exacta, also known at some tracks as the perfecta or exactor, requires you to pick the first two finishers in a race in precise order.
There are basically three different exacta wagering options: Straight Exacta Betting, Exacta Boxes and Exacta Wheels and Exacta Part-Wheels.
The straight exacta bet is generally offered in minimum denominations of $2. A $2 straight exacta bet 3-4 would require that horse 3 win the race and horse 4 finish second in order for you to cash a winning ticket.
The second and most popular exacta wagering strategy is an exacta box combining 2 or more horses to finish first or second in either order. Generally offered in a minimum denomination of $1, an exacta box of horses 3-4 would represent 2 possible combinations – 3-4 and 4-3, at a cost of $2. The cost of a $1 exacta box correlates directly to the number of horses and possible combinations in the box.
The third method of playing exactas is to wheel one horse (or more than one horse) in one position with any number of horses in the other position. It can also be played as part-wheels, which differs from a full wheel in that you do not use ALL the horses in one part of the wheel.
Find out more about betting exactas at Predictem.com.
Tip! Learn How to bet on horse racing: Kentucky Derby gambling guide, shared by SB Nation.