Generally, racebooks and tracks pay out exactas at $2 increments. A $2 exacta box with 1 and 2 horses would cost you $4. If the race comes in either 1-2 or 2-1, you win. Any other combination would render the ticket worthless.

How do Exactas pay out?

The Fair Payoff for an Exacta equals the size of the bet, such as a $2 Exacta, multiplied by the (win horse's odds-to-1) multiplied by the (place horse's odds-to-1 plus 1). The odds are each horse's going-off win odds.

What does a $2 exacta pay?

If you place a $2 exacta key bet, then you will pick one horse to win in each race, and all the others must place. This will cost you $12.