The sport of kings has been popular in Canada for over 250 years. In this guide, we’ll learn everything you need to know in order to wager on events, starting with the best horse racing betting sites in the country.
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The Best Horse Racing Betting Online Sportsbooks List 2023
As promised, we’ll kick off our guide with the top horse racing betting sites in Canada. These have been hand picked by a team of industry insiders, based on dozens of criteria.
- Powbet – Our overall favorite horse racing betting site for Canadians
- BetVictor – Accepts All Canadian Provinces
- Bodog – A globally respect brand with good in-running odds
- Leon Bet – Relative newcomer to Canada, already making a name
- N1bet – Massive welcome bonus
- Betstorm – One of the top horse racing betting apps
- Tebwin – Excellent choice of payment methods
- Cazimbo – Nice selection of live racing streams
- Betvictor – Among the best horse racing betting sportsbooks in the world
- Sports interaction – Attractive signup bonus and other offers
- Tonybet – Crypto-friendly racebook
Best Online Horse Racing Betting Sites Reviewed
Let’s now look at our favorite horse racing betting sites in a little more detail.
1. Powbet – Our number one horse racing betting sportsbook
One of Canada’s hottest new sportsbooks, Powbet is our number one pick for horse racing betting. You’ll find the interface easy to use, there are plenty of events from around the world and there’s also live streaming. Furthermore, there’s harness racing available, not to mention nice features such as cash out.
Although Powbet is great for racing, it’s also among the best football betting sites in the country. The number of tennis and basketball markets is also good, not to mention the competitive odds. You can fund your account in a number of convenient and secure ways, including cryptocurrency. And the customer support team are both helpful and friendly.
Finally, a word about the new player bonus. You won’t need to use a fiddly Powbet promo code, but you can pick up $150 just for depositing. Open your new account to receive a 100% deposit match with a low turnover requirement of just 6x.
Pros:
- International races daily
- Live betting on horses
- No strings welcome offer
- Crypto-friendly racebook
Cons:
- Not the biggest signup bonus
2. Bodog – Among the top mobile horse racing betting sportsbooks
Although Bodog lacks any horse racing betting apps for Android or iOS, it’s easily one of the top mobile betting sites. A slick design with fast page loading times plays a big part in that. But the product itself is strong too, with live betting and streaming, sizable odds and plenty of races.
If you’re a fan of NHL betting, Bodog is also a good choice. While, as a top international sportsbook, you can expect to see a wide variety of soccer, tennis and basketball lines and it is also one of the best Canadian cricket betting sites. Fund your account using traditional bank cards or Interac, which is always popular with Canadian players. But cryptocurrency is also an option if you value anonymity and quick payouts.
Bodog offers its existing customers plenty of promotions, but the welcome bonus is particularly noteworthy. With $400 worth of free bets up for grabs, they also throw in 50 spins to use at the Bodog casino site.
Pros:
- Fast cryptocurrency transactions
- Reputable international brand
- Sizable welcome offer including casino bonus
- Plenty of ongoing promos for regular players
Cons:
- Not the biggest choice of deposit methods
3. Leon Bet – Recent market entry making waves
Although Leon Bet is a relative newcomer to the Canadian market, it has been operational since 2007. So you can feel good about the fact that the team knows how to run a good sports betting operation. They’ve already carved out a global name as one of the top esports betting sites, but their regular sportsbook is surprisingly good too.The site layout is simplistic, with a no-nonsense approach across the whole sportsbook. This makes it easy to find whatever you need, with no distracting banners everywhere. Not to mention increasing page loading times and saving data consumption when using your mobile. But don’t be fooled by the simple visuals because under the hood, this is a high-end betting site.
Last but not least, the welcome bonus is pretty nice too. Make your first deposit using the Leon Bet promo code CA200, then bet $200 to secure a risk-free bet worth $200.
Pros:
- Simple but intuitive interface
- Strong all-round sportsbook
- Good customer support
- Hefty risk-free bet for new players
Cons:
- Lack of horse racing betting apps
4. N1Bet – An array of payment options
One of our favorite hockey sportsbooks, this Curaçao-licensed sportsbook has only been operational since 2021. But they’re already showing exactly what they can do. You can deposit and withdraw via a huge selection of banking methods, including Interac, cryptocurrency and e-wallets like Neteller. All of the expected features of a modern sportsbook, like cash out, are available too.
You’ll find the odds to be quite generous, on all of the many sports offered at N1Bet. The site boasts over 2,000 betting opportunities per day, with at least 500 live betting markets. Away from horse racing, N1Bet is great for motor racing lovers. In fact, it’s among the better F1 betting sites in Canada.
Perhaps the most notable thing about N1Bet is the gigantic welcome package. Alongside the massive first deposit bonus of 300% up to $7,5000, they even throw in a couple of free bets just for verifying your account!
Pros:
- Enormous welcome package
- Competitive betting odds
- 24/7 support
- Huge choice of payment methods
Cons:
- No mobile betting apps
5. Betstorm – Best site for US horse racing betting in Canada
Another relative newcomer to the Canadian betting scene, Betstorm opened in 2021. It’s a solid all-round wagering site, with a strong casino as well as esports betting. But the racebook is undoubtedly one of the top features, with so many markets available at generous odds. They particularly specialize in US racing.
Perhaps one of the best elements of this sportsbook with a Curaçao license is the choice of advanced payment methods. Enjoy innovative banking options like Apple Pay and cryptocurrency alongside a more traditional choice of bank cards and payment processors. There’s also support available via live chat should you need it.
The welcome offer of bet $10 get $10 may not be the biggest out there. But Betstorm does offer several other promotions to make up for it. Borrowing from the casino world, they offer “Wager Wars” which are tournament leaderboards for sports bettors. Then there’s a choice of cashback offers for a variety of sports, including racing.
Pros:
- One of the top US racing sites in Canada
- Lots of cashback bonuses
- Excellent customer support
- Easy to navigate mobile site
Cons:
- No Android or iOS horse racing betting apps
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Below you’ll find all the key information relating to our top ten horse racing betting sportsbooks. This should help you to find the right site for you.
Bookmaker Welcome Bonus Promo Code Live Betting Live Streaming Payment Methods Powbet 100% up to $150 N/A Y Y Cards, cryptocurrency, Interac, Neosurf, ecoPayz, eZeeWallet, Flexepin, MiFinity, Muchbetter, CashtoCode Bodog 100% up to $400 + 50 free spins N/A Y Y Cards, cryptocurrency, Interac Leon Bet Bet $200, get a risk-free bet of $200 CA200 Y Y Cards, Cash2Code N1Bet 300% risk-free bet up to $7500 N/A Y N Cards, cryptocurrency, Interac, Neosurf, ecoPayz, eZeeWallet, Flexepin, MiFinity, Muchbetter, Pay4Fun, iDebit, Skrill, Neteller Betstorm Bet $10, get a $10 free bet N/A Y N Cards, cryptocurrency, Interac, ecoPayz, Muchbetter, Paysafecard Tebwin Bet $10, get a $10 free bet N/A Y N Cards, cryptocurrency, Interac, ecoPayz, Muchbetter, Paysafecard, Apple Pay Cazimbo 100% up to $150 N/A Y Y Cards, cryptocurrency, Interac, Neosurf, ecoPayz, eZeeWallet, Flexepin, MiFinity, Muchbetter, CashtoCode Betvictor Bet $300, get a risk-free bet of $300 N/A Y Y Cards, Trustly, Neteller, SkrillPayPal, Paysafecard Sports Interaction 100% up to $500 N/A Y N Cards, Interac, ecoPayz, Muchbetter, Paysafecard, iDebit, Instadebit, echeck Tonybet 100% up to $150 N/A Y Y Cards, cryptocurrency, Interac, ecoPayz, Jeton, Perfect Money, Skrill, Neteller Betting On Horse Racing Explained
Okay, you now know all about the very best sportsbooks and apps for horse racing in Canada. Now it’s time to get into the meat of this guide. Later on, we’ll reveal our top horse racing betting tips to help you become successful. But first, we’ll teach you exactly how to place bets and read odds.
Horse Racing Betting Canada Odds & Lines
First of all, it’s important to point out that there are several different odds display formats. In the USA, they favor using negative numbers to indicate fancied horses, with positive numbers for outsiders. While in the UK, the older generation likes to show odds in a fractional format.
However, decimal odds have become popular thanks to betting exchanges. These are by far the easiest to understand. Any top horse racing betting app or website will allow you to switch to this format and we recommend that you do.
With decimal, or “European” odds, you simply multiply your stake by the odds value to calculate your returns. So a $20 bet on Rich Strike to win the Belmont Stakes at 4.00 would return $80. That’s a profit of $60, since your original $20 stake is included in the returns.
To work out parlays, it’s the same idea. Let’s say you’ve picked out three horses in three different races, at odds of 2.50, 4.00 and 3.50 and you want to bet $5. The calculation is: 5 * 2.5 * 4 * 3.5 = $175.
Horse Racing Betting Canada Markets
Okay, that’s the odds dealt with. Now it’s time to learn about the various different betting lines that are available.
To Win
Nice and simple, this is the most popular betting market. You literally just pick the horse you think will win. Your potential returns are determined by the horse’s odds and your own stake, which can be as large or small as you wish.
Example: Rich Strike to win @ 4.00
To Place
Canadian horse racing uses the same terminology as in the USA. So “place” is referring to a finish in the first two positions. The odds will be slightly smaller than betting on the horse to win only, since you have a safety net.
Example: Creative Minister to show @ 4.50
To Show
Similar to a place but with an extra position, “show” bets require your pick to finish in the top three. Again, the odds will tend to be smaller still, since you now have three slots to aim at.
Example: Skippylongstocking to show @ 3.50
Across The Board
This is effectively placing three different bets on the same horse to win, place and show. So if your pick does win the race, you’re in for a handsome payout. But if it just misses out, you’ll land a consolation prize.
Example: American Pharoah across the board @ 2.75
Each-Way
The exact rules of each-way betting depend on the number of runners and the type of race. But it’s effectively two bets in one, which is why you pay double the stake. It’s similar to an Across The Board bet, but with specific terms.
Let’s say the race offers each-way terms of ¼ the odds for the first four. A $10 each-way bet at odds of 5.00 will cost you $20. If it wins, you’ll be paid $10 at the full odds of 5.00 and a further $10 at ¼ the odds. If the horse finished 2nd, 3rd or 4th, the win part of the bet is a loser, but the second part is a winner.
Example: Un Ojo Each-Way @ 15.00
Exactor
This is the same bet as a Forecast in the United Kingdom and an Exacta in the USA. You are not only trying to predict the race winner, but also the runner-up. The two horses must finish in the exact order predicted. This is usually a pool bet, so the dividend will be announced after the race.
Example: Early Voting to beat Epicenter
Quinella
This bet is essentially two different Exactors based on the chosen horses. So you have Horse A to beat Horse B, but also Horse B to beat Horse A. The dividends tend to be a little smaller than with the Exactor, as you have two ways to win.
Example: 5-3 (Horse 5 to beat horse 3, or horse 3 to beat horse 5)
Triactor
Known as a Trifecta in the USA and UK, or a Tierce in France, you’re aiming to call the first three home. They have to finish in the exact order, but you can opt to box your picks and pay extra. This way you cover all of the Triactor permutations.
Example: 7-5-9 (Box Triactor: 7-5-9, 7-9-5, 9-5-7, 9-7-5, 5-7-9, 5-9-7)
Double
In Canadian racing, a double is where you aim to pick the winner of two consecutive races. This is tricky, so the potential payouts can be pretty generous. It is a pool bet, so your prize will depend on the number of other winners who correctly picked the double.
Triple
A Pick 3 bet, or “Triple” is the same as the double, but with a third consecutive race. That makes it even harder to succeed, so be prepared for big returns. You can pick multiple horses in each race to increase your chances. But naturally, this means you have to pay more when placing the bet.
Parlay
A parlay is the generic term for a bet involving several selections. They don’t necessarily need to be consecutive, but you’re aiming to pick the winner of multiple races.
Parlay betting can be as big or as small as you like. If you aim to find the winner of four races, that would be a fourfold parlay. With each extra pick, the difficulty level is magnified. So the possible returns increase exponentially.
Horse Racing Free Bets
Like most forms of online gambling, there’s a whole host of free bets and bonuses in the world of horse racing. In this next section, we’ll run through some of the most common offers.
No Deposit Bonus
They’re increasingly rare, but some online bookmakers do offer no deposit bonuses. The clue is in the name. All you need to do is open up the account and a bonus is waiting for you, with no need to register a payment option. Simply use those credits to place bets and keep any money that you win!
Deposit Match Bonus
It’s much more common for new players at betting sites in Canada to receive a deposit match as their welcome offer. Register an account, make a real money deposit and the bookie will issue a bonus. For instance, a 150% offer means you’ll pocket a further $75 in free bet credits when depositing $50.
Free Bets
A free bet might be given to new players as a signup bonus, or to existing players as a reward for loyalty. With this type of offer, you can pick whatever horse you like and use the free bet to wager. If the bet wins, you’ll only keep the profits, since it was placed using a free bet token.
Risk-Free Bets
This is not to be confused with the traditional free bet. Here, you’ll need to place a bet using your own money. But if it loses, the bookmaker will refund that money, usually in the form of a free bet token. This gives you a safety net, meaning you could perhaps place a high risk, high return wager. After all, you’ll get a second chance should it lose.
Best Horse Racing Welcome Bonuses
Betting Site Free Bet Bonus Promo Code Minimum Odds Wager Requirement Powbet 100% up to $150 N/A 2.00 6x Bodog 100% up to $400 + 50 free spins N/A None 5x Leon Bet Bet $200, get a risk-free bet of $200 CA200 1.80 None N1Bet 300% risk-free bet up to $7500 N/A 1.01 None Betstorm Bet $10, get a $10 free bet N/A 1.50 1x Live Horse Racing Betting Online
With the invention of exchanges in the early 2000s, live horse racing betting came along. Before, if you missed the start of the race, there were no more chances to place a bet. But thanks to live betting, it’s now possible to wager even after the race has begun.
Betting in-running is exciting. Horse races can be over in the blink of an eye, so you’ll need to have your wits about you. But with practice, it can be great fun and also profitable.
For instance, let’s say that you know that a certain horse has a tendency to slow down once it hits the front. Then it could be advantageous to wait for that to happen and bet on the fast finishing horse currently in second place.
Horse Racing Sportsbooks with Live Streaming
To get involved with live betting at the track, you’ll need a horse racing betting app on your phone. But you can also sit at your desktop computer and bet on the big race in-running. That’s because most top sportsbooks now offer live streaming.
If you place a bet, or in some cases, simply have funds in your account, you’ll be allowed to watch the racing. This can save money on horse racing streaming subscription packages and is much easier than travelling to a physical racetrack.
Here are some of the best bookies offering live streaming services.
- BetVictor. A top all-round betting site, they offer generous horse racing odds and live streaming whenever you place a bet.
- Cazimbo. Enjoy international horse racing streams from across Europe, as well as an intuitive interface and a generous cashback promo.
- Powbet. Our number one horse racing sportsbook site, you can stream races from all over the world, including the UK, USA and France.
Biggest Horse Races to Bet on
Most online bookmakers offer horse racing markets on a daily basis. But there are some major annual events which really capture the imagination of Canadian bettors.
Breeders Cup
This two day series is held every November at various locations around the USA. Santa Anita and Gulf Stream Park are just two of the historic venues to host this event which attracts the finest horses from around the world.
Kentucky Derby
The first leg of America’s Triple Crown, the world-famous Kentucky Derby is held every May at Churchill Downs in Louisville. The Friday before, the same venue plays host to the filly-only equivalent race, the Kentucky Oaks.
Grand National
Probably the most famous National Hunt (jumps) race in the world, the Grand National is held at Aintree in the UK. A massive field of 40 horses line up ahead of a grueling stamina test, with over four miles and 30 obstacles to cover.
Cheltenham Gold Cup
National Hunt racing’s biggest prize is the Gold Cup, held every March at Cheltenham Racecourse. The finest thoroughbred horses from the UK and Ireland compete at a four day long festival. On the final day, the biggest race is the Gold Cup, worth almost £500,000 to the winner.
Melbourne Cup
“The race that stops a nation” is undoubtedly Australia’s most famous horse race. Held at Flemington every November, the $8 million purse attracts some of the finest international two mile handicappers.
Queen’s Plate
Canada’s biggest race is more than 160 years old. It first took place in 1860 when the country was subject to British rule and Victoria was on the throne. It was known as the King’s Plate between 1901 and 1952. Held annually at Woodbine in June or July, there’s a $1 million purse up for grabs.
Is Horse Racing Legal in Canada?
Absolutely. The Jockey Club of Canada (Le Club Jockey du Canada) oversees the sports of kings in the country. They promote the lawful breeding and racing of horses, regulating the sport to keep things fair. It’s also perfectly legal to bet on the races.
Explore Our Provincial Betting Guides
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Alberta Sports BettingCovering everything you need to know about sports betting in Alberta. Including laws, payment methods, and how to wager a bet online, and more.Alberta Sports Betting
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There can be no horse racing betting online without cash. Every bookmaker requires you to open an account and fund it with real money. Let’s now look at some of the most common ways in which Canadian betting sites allow you to do this.
Debit & Credit Cards
Plastic is familiar to all of us, having been around since the 1950s. Trusted names such as American Express, Visa and Mastercard can be found at most of the top sportsbooks in Canada. Although they are not always the quickest of withdrawal methods, we can be confident that our money will be safe.
Cryptocurrency
Digital currencies like Bitcoin, Litecoin and Etereum have now been around for well over a decade. In recent years, thanks to high profile characters in the media, they’ve really crossed into the mainstream. As such, you can now use crypto to buy everything from a coffee to a house. Betting sites are no exception to this.
E-Wallets
Many of the internet’s earliest online casinos and betting sites relied upon e-wallets like Neteller and Moneybookers, which is known as Skrill these days. They’re a great way to store your betting bankroll separately from your everyday spending money. And with low fees and super fast transaction times, it’s easy to see why Canadian gamblers turn to e-wallets.
Top Payment Options at Horse Racing Betting Sportsbooks
Betting Site Payment Methods Deposit Limits Minimum Withdrawal Withdrawal Processing Powbet Cards, cryptocurrency, Interac, Neosurf, ecoPayz, eZeeWallet, Flexepin, MiFinity, Muchbetter, CashtoCode $10 $10 < 24 hours Bodog Cards, cryptocurrency, Interac $20 $20 < 24 hours Leon Bet Cards, Cash2Code $5 $5 < 24 hours N1Bet Cards, cryptocurrency, Interac, Neosurf, ecoPayz, eZeeWallet, Flexepin, MiFinity, Muchbetter, Pay4Fun, iDebit, Skrill, Neteller $30 $30 < 24 hours Betstorm Cards, cryptocurrency, Interac, ecoPayz, Muchbetter, Paysafecard $10 $10 < 24 hours Tips for Betting On Horse Racing
Next up, we’ll share a few horse racing betting tips to help you take your game to the next level.
Do the homework
Most importantly of all, you must understand that there are no shortcuts to success. Not only do you need to put in the work to study form, you should try to develop other skills. If you can master the art of handicapping or speed ratings, you’ll have a big edge.
Seek out opinions
Forming your own opinions is vital, but you should still bounce them around with other people. Sharing ideas on forums or at the racetrack is a good way to get a sanity check. Be wary of tipsters that ask you to pay for their picks though. If you really want the advice of others, there are plenty of free horse racing tips available online.
Use a mobile app
Betting on a mobile app or website is a good idea. When you’re at the track, you’re at the mercy of the pari-mutuel pools. You won’t know your potential returns until after the race is complete. Betting through an offshore bookmaker’s app when you’re at the racecourse allows you to place fixed odds bets. And if you can’t be at the course, you can use it to stream the races.
Find the value
Shopping around the many horse racing betting sportsbook sites and apps is also vital. Don’t just stay loyal to one brand, otherwise you might miss out on better odds. Compare the morning line prices across multiple bookies and bet with whoever offers the biggest odds.
Bet Responsibly
Naturally, you should always be responsible with your finances, never betting more than you can afford to lose. But when learning to bet on a new sport, you should avoid placing too many bets. Try to specialize in one area, such as three year old races. If you can master one specific niche, you’ll be able to gain an edge.
How to Bet on Horse Racing Games in Canada
It really couldn’t be easier to get started with horse racing betting online. If you’re unsure where to begin, simply follow our quick start guide below. We’ll use Powbet to walk you through the steps.
Step 1: Pick a bookmaker
Firstly, you should decide on your preferred bookmaker. You’ll find a selection of trustworthy sites with great value horse racing betting odds to pick from on this page. Load up the homepage and click “Play Now”.
Step 2: Fill out your details
The next step is filling in the registration form. You’ll need to provide some basic details, including your name, email and login credentials. Take care with this as it could slow down future withdrawals if the information is wrong.
Step 3: Verify your email addressAll of the top bookmakers take identity verification seriously. As part of that, you’ll have to validate that your email is real before proceeding any further. Open your inbox and look out for the confirmation email.
Step 4: Deposit some cash
Okay, now that your account is all set up, it’s time to fund it. After all, horse racing betting online is impossible without some money to play with! Head off to the cashier, choose your ideal payment option and pay attention to any on-screen details like minimum deposit limits.
Step 5: Place your bets
You’re ready to go! Navigate to the horse racing section of the site and pick out a race. Next, click on the horse you think will win to add it to your betslip. Enter a stake and place your first wager! Scroll up the page for some free horse racing tips to help you start betting.
Conclusion
That brings our guide to horse racing betting online in Canada to its conclusion. We’ve cleared a lot of hurdles, including learning all about live betting, common horse racing bonuses and how to place bets.
If you’re ready to start betting, sprint across to Powbet and open up a new account. You’ll not only find a fantastic racing product waiting for you. But there’s also a $150 welcome bonus for all new players.
FAQs
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Dominic Field
Dominic Field
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