[Grits]

Originally Posted by estreetposse

You are both betting $2 on a 10-1 horse to WIN. For s**ts and giggles, let's call him the 10 horse.

Now one of you is also betting $2 to place on the 10,

and the other is betting a $2 exacta: Favorite/10

Is this correct or am I still confused from reading this 3x?

Yep, still confused.