Horse Racing Betting
Most horse race betting is done electronically and is legal in the majority of states, keeping the sport accessible to a large number of horse bettors and fans. Whether you're new to betting on horse racing or simply moving your stakes to online bookmakers, this guide will give you an overview of important things to keep in mind, things to consider before making a bet, what some of the betting terminology means and a few of the biggest annual races you can bet on.
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Best Horse Betting Apps
All of the most popular online wagering platforms offer best betting apps, which allow players to wager on their mobile devices from anywhere in their state.
The apps are available for Android and iOS devices and can be downloaded on your operator’s website or the App Store. The apps include all of the same features you would find on your computer, including all wagering options, live streaming of races and deposit and withdrawal options, but it's worth noting that many betting sites only offer racing betting on mobile.
bet365 Online Racebook
bet365 carries one of the deepest horse racing menus among US operators, covering domestic tracks alongside UK and Irish jump and flat racing to give American bettors access to fixtures like Cheltenham and Royal Ascot. Its Racing Post data integration brings detailed form, going reports and jockey or trainer statistics directly into the betting interface.
Live streaming is available on a large share of covered races, paired with in-play prices that update through the running of a race rather than just pregame. Both win/place wagering and UK-style each-way markets are supported, making it a rare option that handles American and international racing conventions equally well.
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BetMGM Horse Racing Betting
BetMGM's horse racing product centers on the major US fixtures, with strong coverage of the Triple Crown races, Breeders' Cup and marquee stakes days at tracks like Saratoga and Del Mar. Markets stick to the standard win, place, show and exotic wager structure, which keeps the offering straightforward for bettors already used to American racing.
Futures odds on Triple Crown contenders open well ahead of each race, and BetMGM frequently runs odds boosts and profit boosts tied to marquee racing weekends. Its tie-in with the broader BetMGM rewards ecosystem means racing bets also contribute toward the same loyalty perks earned through its sportsbook and casino products.
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How We Pick the Best Horse Betting Sites
Bookies.com evaluates and compares horse racing betting sites, using many of the same the factors we consider most important when picking the best sports betting sites:
- Safety and Security: We only recommend horse betting sites that are legal and licensed in the state you reside, and will be responsive if you have an issue with your account. We never recommend offshore horse betting sites, which are unregulated and offer no potential safeguards.
- Ease of Use: Each betting site offers its own software, layout and graphics, and no two are the same. We look for the most user-friendly, but believe it’s best for bettors to try multiple sites to see which works best for them.
- Horse Racing Bonus Offers: We help determine which sites offer the most lucrative online bonuses and promotions to sign up new players and keep existing ones.
- Track Selection: Some horse racing betting sites offer a more robust selection of tracks to wager on, including racing outside the U.S.
- Odds: It's important that racebooks offer competitive odds against each other, allowing you to get the best value possible.
How Does Online Horse Betting Work?
Online horse betting is similar to wagering at the track, except it's more convenient because you can do it from almost anywhere.
The 2006 Unlawful Internet Enforcement Gaming Act shut down several some forms of online betting, but specifically kept online horse race wagering legal. Each state has the option to allow online horse wagering and most permit it.
Bettors have a choice of online pari-mutuel wagering platforms including FanDuel Racing and TwinSpires. Horse bettors can create an account with any of those operators, deposit funds and make wagers on the website or by downloading the app.
Each horse racing betting platform offers the same types of wagers offered at any racetrack, with odds updated in real time. Bettors can wager and watch the races and play multiple tracks at the same time.
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Where is Horse Betting Legal in the U.S.?
At least 40 states allow online wagering on horse racing, with the number continuing to grow:
- Alabama
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Dakota
- Tennessee
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
It’s important to note that due to various state regulations, some online platforms may not accept players from all legal states.
Biggest Horse Racing Events in the U.S.
The Triple Crown races are the most popular and biggest betting events in the U.S. To capture the Triple Crown, a horse must win all three of the Kentucky Derby, Preakness Stakes and Belmont Stakes. This has been achieved 13 times throughout history, with Sir Barton being the first to do so in 1919.
Kentucky Derby
- Annual date: First Saturday in May
- Where: Churchill Downs, Louisville, Ky.
- About: World’s most famous horse race is normally first leg of Triple Crown. Kentucky Derby distance is 1 and 1/4 miles; field limited to 20, based on points accumulated in prep races.
- Key Fact: The 2022 race was won by Rich Strike, who went off at +8000 (80/1).
Preakness Stakes
- Annual date: Fourth Sunday in May
- Where: Pimlico Race Course, Baltimore
- About: Normally second leg of Triple Crown. Preakness Stakes distance is 1 and 3/16 miles, shortest of the three legs.
- Key Fact: Legendary horse Secretariat holds the record for quickest Preakness Stakes win, having clocked in at 1m53s in 1973.
Belmont Stakes
- Annual date: Three weeks after Preakness
- Where: Belmont Park, Elmont, N.Y.
- About: Third and final leg of Triple Crown. Distance of 1 and 1/2 miles is longest of the three races.
- Key Fact: Three fillies have won the Belmont Stakes, although only 24 have ever run.
Breeders’ Cup Classic
- Annual date: Late October or early November
- Where: Awarded to different tracks every year
- About: The Breeders’ Cup is two days of championship racing featuring horses from around the world, held annually at a different North American location. The Breeders’ Cup Classic, run at 1 and 1/4 miles, is the richest of the two days of races.
- Key Fact: Only one horse has ever won the Breeders’ Cup Classic twice, with Tiznow claiming victory in 2000 and 2001.
Pegasus World Cup
- Annual date: Late January
- Where: Gulfstream Park, Hallandale Beach, Fla.
- About: One of the richest horse races in the world, run at 1 and 1/8 miles. The Pegasus World Cup draws top older horses and typically serves as a season-opening marquee event on the thoroughbred calendar.
- Key Fact: This race only started in 2017 and trainer Bob Baffert has already won it three times.
Horse Racing in Canada
Both thoroughbred and standardbred racing are popular in Canada, which is home to more than two dozen horse tracks. Canadian sports betting sites cater to this passion more than $1 billion is wagered on racing annually.
Horse racing betting is legal in Canada and is available at many of the top sportsbooks in the country. Horse racing odds can be found on flat racing, steeple chasing, jump racing, harness racing and endurance racing.
The Canadian Triple Crown is one of the most popular series of horse races in Canada, and a highlight on the Ontario sports betting calendar. All three races take place in the province. The first is the Queen’s Plate at Woodbine Racetrack, the second is the Prince of Wales Stakes at Fort Erie Race Track and the third is the Breeders’ Stakes, also at Woodbine.
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Other Notable Worldwide Races
Many racebooks in the U.S. also offer betting on big races around the world, especially in the UK where horse racing is amongst the most popular sports to bet on.
Grand National
- Annual date: Early April
- Where: Aintree Racecourse, Merseyside, England
- About: The most valuable jump race in Europe and run over 4 miles 2 1/2 furlongs. The race is iconic in British culture and is so popular that many betting sites are unable to handle the demand.
- Key Fact: Red Rum won the race in 1973, 1974 and 1977, and also came second in the 1975 and 1976. He is the most successful horse in race history.
Melbourne Cup
- Annual date: First Tuesday of November
- Where: Flemington Racecourse, Melbourne, Australia
- About: The richest two-mile handicap in the world, with the purse topping $7 million USD. Also known as "the race that stops the nation" because of its impact on Australian culture.
- Key Fact: Makybe Diva won the race three years in a row from 2003 to 2005, making her the most successful Melbourne Cup horse in history.
How to Bet on Horse Racing
The first step is to register, which is broadly the same process at all the best betting sites no matter which one you pick. Start on this page and choose the one that appeals to you most, then click through from here to join.
Fill in your personal details, which will include name, email address, home address and date of birth, then follow the remaining steps to sign up. You may be required to provide the last four digits of your Social Security Number to be verified.
Your provider will offer a selection of racetracks to choose from. Find the track you want to bet on and the field for the upcoming race will appear on your screen with each horse’s win odds changing in real time.
Simply hit the wager button and click on the amount you wish to bet. Then click on the type of wager (win bet, exacta, trifecta, etc.) you want you make. You can place as many wagers as you wish, provided you have the available funds in your account.
When playing on your computer or mobile device, you can usually watch the races via live streaming. Winnings are automatically posted to your account.
Depositing Funds on Horse Betting Sites
Online horse racing wagering platforms offer several ways to fund your account. Check out our online banking betting guides for more detailed information on racebook deposit methods:
- Credit/debit card: Always a convenient choice as there are American Express sportsbooks, Mastercard betting sites and Visa betting sites, but be aware that some banks treat these deposits as a cash advance and charge high fees. Other banks may automatically decline betting transactions as a matter of policy, even though it is legal.
- Play+/Prepaid card: Play+ cards were created for sports and casino betting and are easy to use. If the site accepts Play+, typically there will be a link directing you to the Play+ site to register. You can fund your Play+ card with a credit card or bank account, then fund your horse betting site account. You can also withdraw your winnings back on to the card and then access the cash from ATMs. Prepaid cards are often available as a branded card on your operator’s website as well.
- E-wallet: The most popular are PayPal betting sites and Neteller, which store your credit information and allow you to move funds in and out of your online account for low fees.
- ACH/bank transfer: A digital connection links your checking account to your online racing account.
- PayNearMe: Use cash at a 7-Eleven, CVS Pharmacy or Family Dollar store, which will scan a barcode and transfer the funds to your online account.
- Check or money order: Mail a personal check or money order to the address provided on your operator’s website. No fees, but transactions take longer to process.
Most of these methods, though not all, can also be used to make withdrawals from your online account.
Online Horse Betting Bonuses and Promotions
Online horse wagering platforms have betting offers, bonuses and promotions to sign up new players and retain existing ones. Generally, the bonuses offered by online horse racing platforms are more straightforward than online casino offers, and require few, if any, playthrough requirements. Among the most common bonus offers and promotions:
- Deposit match: A sports betting deposit match gives you more money to play with and it's usually a 100% match from your first deposit. Sign up for an account, make your first deposit and your operator will give you bonus bets to play with.
- Sign up bonus: Receive a small bonus just by signing up for an account.
- Bonus bet: Make a wager on a specific day or track and if it loses, your wager is refunded. If you're lucky, you might be able to get a sports betting no deposit bonus that doesn't require you to do anything.
- Money back specials: Make a win bet and receive a refund if your horse finishes second or third.
Welcome bonuses such as sign up and deposit match are generally offered only to new accounts. Players can receive multiple bonuses by signing up with multiple wagering platforms. Make sure to read the terms and conditions on all bonuses.
Types of Horse Racing Bets
The horse racing betting menu is vast, with single horse, multi-horse and multi-race wagers available. Whilst the terminology can be confusing to new bettors, especially as racebooks don't always explain what the wager actually is, it's usually straightforward to learn.
Win, Place and Show
These are the main types of horse racing betting available and are the ones that most people stick to due to the simplicity of them. They're stock bets that are available at every online racebook and at track betting.
- Win Bet: Betting on a specific horse to win a race. Win odds are determined by the amount wagered on each horse in the race. The more money wagered on a horse, the lower the horse’s odds.
- Place Bet: Betting on a horse to finish no worse than second.
- Show Bet: Betting on a horse to finish no worse than third.
- Each-Way: More commonly used in the UK but available at some US racing sites, this essentially splits your bet into two parts: a win and a place. In this context, a place bet means the horse can finish in any predetermined place - usually top-three - rather than needing to be second as above.
Exotic Betting
More than 70% of all horse race wagers are exotic bets. These are wagers that involve two horses or more in a particular race or a series of consecutive races. Exotic bets are popular because, while they can be difficult to hit, they offer potentially lucrative payouts.
Examples of exotic wagers:
- Exacta Bet: A wager on two horses in a race to finish first and second in exact order.
- Quinella: A wager on two horses in a race to finish first and second in either order.
- Trifecta: A wager on three horses in a race to finish first, second and third in exact order.
- Superfecta: A wager on four horses in a race to finish first, second, third and fourth in exact order.
- Daily Double: A wager combining the winning horses of two consecutive races.
- Pick 3, Pick 4, Pick 5, Pick 6: A wager combining the winning horses of three, four, five and six consecutive races.
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Betting Strategies to Consider
Unless you’re extremely lucky, becoming a winning horseplayer is hard work. Here are some helpful strategies to consider:
Familiarize yourself with past performances: Having an informed opinion is the best way to select winning horses. Past performances give you an accurate picture of how each horse has performed in the past several races. Past performances are available for all tracks. The most popular are Daily Racing Form and Brisnet.
CHECK OUT: How Class, Speed Figures Into Horse Racing Handicapping
Pay attention to the human element: The best trainers and jockeys win the most races. Jockey and trainers standings at each track are readily available and can be an insightful handicapping tool.
Find your betting style: What kind of bettor are you? If your wagering priority is limiting losses, then a smaller win, place or show bet may be appropriate. If you are willing to embrace more risk, then an exotic bet may be for you. Your betting personality and bankroll size will help dictate the types of bets you should be making.
Demand value if you can: In pari-mutuel horse race wagering, you are betting against other bettors, not the house. More often than not, the public is wrong. Assess what you believe a horse’s true odds should be, and if the actual odds are higher, consider making a wager. Conversely, if you believe a horse is overbet, consider looking elsewhere.
Pick your spots: There is no rule that you must bet every race, nor is it recommended. If you don’t have a strong opinion, save your money for races you feel more comfortable betting on.
Horse Betting Terms to Know
- Claiming race: A race in which all entrants in the field are available for sale, ranging from a variety of prices, from $4,000 to $75,000 and up. Most U.S. races are claiming races.
- Colt: A male horse age 4 or younger.
- Daily double: A wager in which the bettor must pick the winner of two consecutive races.
- Exacta: A wager in which the top two finishers are selected in exact order.
- Filly: A female horse age 3 or younger. At age 4, they become a mare.
- Furlong: One-eighth of a mile. A six-furlong race is three-quarters of a mile.
- Gelding: A castrated horse.
- Inquiry: An investigation by the racing stewards to determine if a foul was committed by a horse or jockey during the running of the race. The stewards have the authority to make disqualifications.
- Maiden: A horse that has not won a race.
- Photo finish: A close finish of a race that is determined by a photograph.
- Silks: Colors worn by a jockey during a race, usually representing the horse’s owner.
- Stakes race: The highest quality of races. The best stakes races in the U.S. are graded, with Grade 1 the premier races, followed by Grade 2 and Grade 3.
- Trifecta: A wager in which the top three finishers must be correctly selected in exact order.
- Yearling: A horse between one and two years old. Horses can start racing at age 2. The Triple Crown races are for 3-year-olds.
Horse Racing Betting FAQs
What are the most common types of horse racing bets?
The most popular horse racing bet types are win (your horse finishes first), place (finishes first or second) and show (finishes in the top three). Exotic bets like exactas, trifectas and superfectas let you predict multiple finishers in order for much larger payouts.
What is the Triple Crown in horse racing?
How do horse racing odds work?
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