Depending on the number of horses in a race, it is possible to lay a small wager that covers every possible finish with the key horse winning. If there are seven horses in a race, a bettor can ask for a two dollar exacta wheel with the winning horse’s number followed by all, and twelve dollars would cover every potential outcome. The key horse still has to win to collect, and the bet only turns a profit if the odds beat six to one on the winning ticket. If a long shot comes in second, the ticket is worth considerably more than if the second place horse was among the favorites. So when betting an exacta wheel this way, the bettor wants the key horse to win and a distant long shot to take second for the ticket to pay well beyond what was wagered. If the second place horse was a favorite, the bettor is likely to lose money even when the key horse wins.