What is an Exacta?

An exacta is a bet which requires you to select two horses in the same race to finish in first and second place in the exact order.

Straight Line A straight line exacta requires you to take two horses in a race to finish in the exact order. If you take a straight line exacta with the numbers 5 & 6. The bet will read 5/6. The amount that bet will be required to be taken for is R1.

Boxed exacta A boxed exacta is where the horses you select, a minimum of two horses, to finish in the first two in any order. The bet costs a minimum of R2. If the result ends in a dead heat, you will be paid out for combinations 5/6 and 6/5.

Banker A banker is where you select a horse to finish in one particular position followed by a minimum of one horse to finish in the other position. The example below shows an example of 1 running first followed by numbers 2 and 4. This bet will cost a minimum of R2.

Floating banker When taking a floating banker exacta, you are required to select one number to finish in either first or second, followed by a minimum of two horses to accompany it in the remaining exacta position. The example below shows 5 to run first is followed by numbers to 1, 4 and 6. This means that 5 can run either first or second followed by numbers 1, 4, 6.

Read more here: https://blog.hollywoodbets.net/understanding-different-horse-racing-bets/