Sparky12, the exacta will generally pay more than double the quinella if the winner is an outsider or at a higher price than the second horse.

Because the TAB take-out is less for the quinella than the exacta (NSW TAB - I don't know about the other TABs) it would be logical to assume that the quinella provides better value - or less bad value because approx a 16% take-out on quinellas should not be connected to the word "better".