A boxed bet is an exotic staked on every finishing order of the runners you pick, so they only have to fill the paid places between them, in any order. Racing NSW's guide to betting describes boxing as covering all possible combinations for the finishing order. A box costs the number of orders times your unit: $1 a combination at full units, or less at flexi.
Boxing matters most on the exacta, trifecta and first four, where order normally counts; horse racing betting covers the rest.
A 3-runner trifecta box, worked
Box Runners 2, 5 and 11 in a trifecta. Any of the three can fill first, either of the others second, and the last one third:
combinations = 3 x 2 x 1 = 6
| First | Second | Third |
|---|---|---|
| 2 | 5 | 11 |
| 2 | 11 | 5 |
| 5 | 2 | 11 |
| 5 | 11 | 2 |
| 11 | 2 | 5 |
| 11 | 5 | 2 |
At $1 a combination the ticket costs $6, and at $3 it is a 50% flexi. Say the three finish 5, 11, 2 and the trifecta pays an illustrative $86.40 per $1. One of the six combinations wins, so the $6 ticket returns $86.40 and the $3 ticket $86.40 x 0.50 = $43.20. The other five lose, which is the cost of not naming an order, and a runner from outside the box in the first three beats all six. Trifecta betting covers bigger tickets.
Box cost formulas by bet type
Where order matters, any of your n runners can fill first, n - 1 are left for second, and so on. Where it does not, as in a quinella or duet, each pair counts once. For boxes of seven and eight runners:
| Bet | Box formula | 7 runners | 8 runners |
|---|---|---|---|
| Quinella or duet | n x (n - 1) / 2 | 21 | 28 |
| Exacta | n x (n - 1) | 42 | 56 |
| Trifecta | n x (n - 1) x (n - 2) | 210 | 336 |
| First four | n x (n - 1) x (n - 2) x (n - 3) | 840 | 1,680 |
A quinella box takes every pair from your runners, and so does a duet box, though three boxed runners filling the first three hold three winning duet pairs. Multi-race bets such as the quaddie multiply their legs instead, and the flexi calculator counts any box.
Box vs standout
A standout fixes one runner in one place and spreads the rest around it. With the same illustrative runners:
| Ticket | Combinations | Cost at $1 | Lands when |
|---|---|---|---|
| Box of 2, 5 and 11 | 3 x 2 x 1 = 6 | $6 | The three fill the first three, in any order |
| 5 first, with 2, 8 and 11 for second and third | 1 x 3 x 2 = 6 | $6 | Runner 5 wins and two of the others run second and third |
| Box of 2, 5, 8 and 11 | 4 x 3 x 2 = 24 | $24 | Any three of the four fill the first three |
The first two cost the same but back different views: a box suits a group with no order in mind, a standout a firm view on one runner's place.
Box mistakes and what each one costs
- Adding one more runner. A 6-runner trifecta box is 120 combinations and a seventh makes it 210, so a $24 outlay falls from a 20% flexi to 24 / 210 x 100 = about 11.43%.
- Boxing when you do have a view on the order. If you expect Runner 5 to win, four of the 3-runner box's six combinations are spent on Runner 2 or Runner 11 winning.
- Forgetting scratchings. Under the tote rules gazetted in WA in 2010, combinations that include a scratched runner are refunded (rule 9.1). Each combination in a 3-runner trifecta box includes all three runners, so one scratching refunds the whole ticket, while a 4-runner box has 18 of its 24 combinations refunded and keeps only the 6 without the scratched runner, as exotic scratching rules explains.
Seeing how the market rates each boxed runner
A box spends the same on every order, so a long shot in it carries as much of the outlay as the favourite. The Terminal lines up prices from 40+ bookmakers across racing and sports, each bookmaker in its own column, runner by runner, so you can see how the market rates each one before you box them. The trifecta dividend itself is declared only after the race.
Risk: Betting involves risk. A box lands only if your runners fill every paid place, and one that lands on a popular order can return less than its outlay. See responsible gambling for limits and support.