How Bad is this Derby Betting Strategy?

[Late Fires]

Appreciate everyone's feedback so far.

My thinking is that the trifectas are really the central part of the play. If I've handicapped the race correctly, I'll have the tri and the exacta, and given the size of the pools and the horses I like, I'm guaranteed a good payout.

I agree that I should be able to toss 10-12 horses, but given the field size and unpredictable nature of the race, anything can happen. The exacta wheels give me an out and a chance to make some money back if I've totally missed the boat.

Again, there could be smarter ways to play it, so I appreciate the input.