Horse Racing Betting Guide – Best Sites, Odds & Tips

Melbourne Cup Betting Offer With Bovada: Get $750 In Horse Racing Free Bets

Andy Newton  •  Nov 6 2023

BetOnline Free Bet For Melbourne Cup 2023: $1000 Horse Racing Betting Offer

Andy Newton  •  Nov 6 2023

Melbourne Cup Free Bets With US Sportsbooks: $4,250 In Horse Racing Welcome Offers

Andy Newton  •  Nov 6 2023

How To Bet On Melbourne Cup In Florida: Best FL Horse Racing Betting Sites

Kyle Curran  •  Nov 6 2023

How To Bet On Melbourne Cup In Texas: Best TX Horse Racing Betting Sites

Kyle Curran  •  Nov 6 2023

How To Bet On Melbourne Cup In Canada – Best CA Horse Racing Betting Sites

Andy Newton  •  Nov 6 2023

How To Bet On Melbourne Cup In California: Best CA Horse Racing Betting Sites

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What Time Is The Melbourne Cup In USA? Australian Race Time For US Bettors

Andy Newton  •  Nov 6 2023

How To Bet On Melbourne Cup in the USA: Best US Horse Racing Betting Sites

Andy Newton  •  Nov 6 2023

MyBookie Breeders’ Cup 2023 Betting Offer: Claim $1000 In Horse Racing Free Bets

Paul Kelly  •  Nov 4 2023

BetUS Breeders’ Cup 2023 Betting Offer: $2500 In Horse Racing Free Bets From ANY US State

Paul Kelly  •  Nov 4 2023

Everygame Breeders’ Cup 2023 Betting Offer: Get $500 In Racing Free Bets In ANY US State

Paul Kelly  •  Nov 4 2023

How We Rank the Best Horse Racing Betting Sites

We have provided rankings of the best horse racing betting sites, but what were the factors that we considered in our analysis? Here’s the breakdown and how we rank them:

Bonuses & Offers

From a Welcome Bonus to long-standing offers like Racing Rebates, we look at the variety and quality of promotions at a sportsbook. But, of course, value is important and how easy a racebook promo is to use and the qualification requirements.

Choice Of Bets

Horse racing bet types won’t vary much between different racecards. But some do push the boat out a bit. Finding exotics within a card or configuring the selections in a bet slip to create a parlay is essential. We judge racebooks on bet variety.

Choice Of Races

A tremendous amount of horse racing happens every day. Having access to as much of it within an online racebook plays into the variety of bets that can be snapped up. Highly rated operators have horse racing cards from tracks around the world,

Banking Options

As betting involves hard-earned cash, it is crucial to do sports or horse racing betting at a fully licensed and regulated online operator for safety. Therefore, secure banking options are a critical component of rating online sportsbooks. 

Mobile Compatible & Features

Having access to a racebook right at your fingertips on a mobile device means that you can do horse racing betting anywhere. Not all sportsbooks have a dedicated betting app but we rate those that do, and for those that don’t, we look at how well the mobile website version performs on devices.

Customer Service

Sometimes reaching out to Customer Service needs to be done, whether a general inquiry or account management. We look at things like available customer service methods and the hours covered.

Is Horse Racing Betting Online Legal in the US?

Horse racing betting online is legal in the US. However, not every state in the US has the same rules and not even the same markets available, so it’s worth following guides and recommendations on how to bet legally online.

List of states where online horse racing betting is legal: Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming. 

Even though the sportsbooks listed on this page are offshore betting sites, they are regulated by their commissioning country, and it is legal for US citizens to do horse racing betting at them.

How do you Bet on Horse Racing?

Placing a bet on horse racing is a simple process but there are some steps to follow to get up and running.

Here we will explain how you can join a horse racing betting site, using BetUS as an example.

1. Sign-Up

Registering an account with BetUS is an excellent place to start, as they come top of our sportsbook ratings. A click on the Join button will open the registration window. BetUS has a welcome bonus and the racebook promo code can be entered at this stage.

2. Deposit

After the registration process comes the funding of the account by making a payment. That can be done through the “Make a Deposit” section. Also, visit the BetUS promotions page to find deposit bonus offers like Crypto or Visa.

3. Select a Bonus

The BetUS bonus options are plenty, from Crypto Bonuses to Re-Up bonus offers. It’s worth looking at their Promotions page to select the ones you can use. All of their offers do have promo codes.

4. Enter a Promo Code

There are different promos for different stages of running a BetUS account. For example, a Sign Up Bonus code can be entered during registration. Log in and then Opt-in through the Promotions page before crediting your account for something like a Re-Up Bonus.

5. Find the Racebook

You are all signed up with a funded BetUS account. The next step for horse racing betting is to browse their sportsbook. That’s easy as a direct link across the main horizontal menu. Click it to get to the racecard section.

6. Select a Market

Once in the racebook section on the site, you browse the available markets. For example, you could simply look at the Next 5 Races coming up, browse the day’s cards for a specific track or look at fixed odds Futures. 

7. Place a Bet on the Slip

You likely have your horse racing preferences, having studied insights and form for horse racing betting. Make your selection, and in the case of Exotics, click options and enter a stake on the card, then add the selection to your slip.

How to Read Betting Odds in Horse Racing

There is a slight learning curve to horse racing betting odds. The good news is that it is not as daunting as it first may look. All odds displayed on a racecard represent the probability of a horse’s chance of winning. 

How is a bet payout calculated? In fixed odds, commonly found on Futures, an Ev (1/1) quote represents, from a profit point of view, that profit would be equal to the stake played.

A +200 selection would mean that your profit would be double your stake, a +500 is profit five times your stake and so on. The bigger the odds, the less perceived probability the horse has of winning the race.

Pari-mutuel betting

Odds in US racecards are based on a pari-mutuel format, which means that all money collected on a race from bettors goes into a pot for the race. That pot is then split between winning tickets (after the sportsbook has taken its cut). 

Horse racing betting odds aren’t known until the race has started. Because they are directly related to the wagers put into the pot, odds change frequently. This is where the Morning Line is good, as it’s a prediction from a track handicapper of what the horse is expected to return.

Popular Types of Horse Racing Betting Markets

Betting on the horses can be as nuanced or as straightforward as you want it to be. Experienced punters may never vary from the Win, Place or Show options because they are solid standard bets. Here we look at some different bets that you may come across in horse racing betting.

Standard Wagers

Standard wagers are those simple horse racing picks on all racecards, whatever online racebook you are at. The simple Win Bet is the most common example of a standard wager in horse racing odds.

Win Bet

A win bet is hugely popular because it selects the one horse that you back to win a race. It’s a straightforward selection of who crosses the line first.

Example: Horse to win the Kentucky Derby @ +650

Place Bet

A Place Bet selects a horse from a racecard to finish 1st or 2nd. If it finishes in any other position, the bet is a loser.

Example: Horse to Place in the Preakness @ +400

Show Bet

Similar to the Place Bet, however, the Show Bet is backing a selection to finish in the top three of a race. 

Example: Horse to Show in the Dubai World Cup @ +200

Double Bet

A double bet is two selections combined into one bet. For example, a horse racing Daily Double picks the winners of two consecutive races.

Example: Horse to Win Race #1 Santa Anita Park at @ +200 and Horse To Win Race #2 Santa Anita Park @ +450

Across The Board

Three bets, ATB is a bet on a horse to win, place and show. A win would see all bets collected. A second-place finish would collect two bets (place and show), and a third-place finish collects just the show.

Exotic Wagers

Exotic wagers in horse racing betting expand beyond just a standard single bet like those listed above. When you click an Exotic bet on a racecard, radio buttons appear instead of stake boxes. Then, click the selections you want to fill the bet requirements.

Exacta Bet

The Exacta bet has the smallest configuration of horse racing exotic bets. You nominate the first and second-placed finishers for a race in the exact order.

Quinella Bet

This is a variation of the above Exacta Bet. Again it asks for the horses to finish first and second in the race but in any order.

Trifecta Bet

Pushing things a little further, the Trifecta is picking the horses to finish, first, second and third in the exact order. This is a hard bet to win.

Superfecta Bet

Taking things out to picking the top four exact finishing order in a race is the Superfecta – these are complicated bets to land.

Super Hi-Five Bet

Up another notch, horse racing betting goes with the Super High Five (Hi-5, or Hi-Five), picking the exact finishing order of the top five in a horse.

Multi-Race Bet

As the name suggests, this is picking the winners of multiple races. Some options will come in things like the Pick 4, or bettors customize Win Bet selections from different races into a Parlay Bet.

The Exotic Box

When you are playing an Exotic like a Trifecta, there will be the option to Box the bet on the slip. For example, in a Boxed Trifecta, selecting three runners in a race will cover all possible scenarios of those three horses finishing in the top three. 

If your selections are horses 2-3-5 for a Boxed Trifecta, then the possible combinations are:

• 2-3-5
• 2-5-3
• 3-2-5
• 3-5-2
• 5-2-3
• 5-3-2

A boxed horse racing betting requires a stake unit for each potential outcome. Selecting three horses in a Boxed Trifecta means that there are six different combinations in which they could land inside the top three. If your base wager was $2, then your overall stake would be $2 x 6 = $12

In an 8-runner race, horses 8, 4 and 6 are selected for a Boxed Trifecta. If those three occupy the top three spots in the race in any order, the bet will win. That’s in contrast to the fixed Trifecta, which would need the horses to finish in the exact order.

An Exotic Key

There is another approach to exotic horse racing betting – the Exotic Key. With the Trifecta as an example, you pick a horse who has to finish in first place (the key) while you select further horses to fill second and third in any order.

Best Horse Racing Betting Strategy & Systems

Some punters follow a horse racing betting strategy or system. As a result, they can provide an exciting guidepost to structured wagering. In the next section, we look at some of the most popular betting systems for horse racing betting.

The Dutching System

Dutching in sports betting is nothing new. It’s also one of the most popular horse racing betting systems known as arbitrage betting. Dutching is where you calculate what stake you would need on more than one runner to get the same profit back regardless of which one wins. 

To know how much stake you need, you calculate the implied probability of the odds of the two runners. Then divide the probability of Horse A by the total of the two probabilities and multiply that by ten. Next, do the same for Horse B.

Frankly, it is just the thing that a horse racing betting calculator can be used for. A Dutching calculator for this horse racing betting system will work it out way quicker. Dutching can have any number of horses selected in a race. More horses mean more stake and more significant risk if you haven’t picked the winner.

Paroli System

Another horse racing betting system is the Paroli System, based on bankroll management. A player doubles the base stake after every win in the system, but only up to three wins max. The system then starts again. If at any point a loss happens, you go back to the first base stake. 

The Beaten Favorite

More of a horse racing betting strategy than a system is the Beaten Favorite. Following a horse to come good in their next race, having failed as the favorite in their previous one can bring about opportunities. 

One of those would be taking a solid horse at better odds in their next outing because of having had hopefully just the one bad day at the office. A Beaten Favorite strategy relies on a losing favorite being underpriced next time out.

Jockey and Trainer

Jockey and Trainer combos are valuable. Looking at the Morning Line odds and seeing a horse near the head of the market from a top yard with a leading jockey booked, pieces are starting to fall together in this strategy. Research can show you the top jockeys at tracks and when they are on a selection for a top yard, it’s something to note.

Our Top 5 Horse Racing Betting Tips

The goal of any punter getting into horse racing betting is to make money. Betting systems can be used, as can following tipsters. There are different approaches to take regarding how to profit from horse racing betting. One of the best is to trust yourself and learn about form and bet types to suit your preferences.

Reading Form

Reading form in horse racing is crucial to understanding how a market will shake out. It’s not only understanding a horse’s current condition but also previous performances at a track and distance and the grade of a race. The form of the jockey and trainer is another crucial aspect.

Managing Bankroll

Managing a bankroll is an integral part of horse racing betting tips. Why? It helps to stay in control and make sensible wagers. The careful, studious practice of having a stake limit can help to avoid emotional bets like trying to chase losses or throwing everything at a “gut feeling”. Plan it out and stay in control.

Claim A Bonus

Bookmakers offer bonuses and if they fit into your plan for horse racing betting, they can be used to your advantage. For example, a Money Back offer on a selection if they finished second in a race gives you a free hit. Claiming bonus cash and playing with it is another way to use bonuses.

Pick Your Bet

As explored on this page, there are many types of horse racing bets. But it’s best not to spread yourself too thinly. Instead, study form and focus on one or two bet types that you can progressively research and follow for returns. Simple bets with higher probability are better than big exotics, which may sound great but are generally impractical because of their low probability.

Take Advice

Reading the insights of Expert Tipsters can provide some food for thought about what you want to do with your own horse racing betting tips. Information could help you spot something that you missed in your research. Don’t just blindly follow tips – integrate them into your handicapping systems.

Biggest Horse Racing Events to Bet on

Horse racing is embraced right across the world and there have been some massive prize pots thrown at the sport. There are high profile races not only from North America but from Europe and Australia too. Here we look at some of the biggest domestic and international races.

Top 5 US Horse Races

Here are the top five US Horse Races worth pencilling into your calendar to help plan your horse racing betting. 

Kentucky Derby

It doesn’t get much bigger than the Kentucky Derby at Churchill Downs. Usually held on the first Saturday in May, it’s a Grade 1 stakes fixture for 3-year-old thoroughbreds and the opening leg of the Triple Crown.

Preakness Stakes

The Preakness, hosted at Pimlico in Maryland, is the second leg of the American Triple Crown and quickly follows the Kentucky Derby. The Preakness is run on the third Saturday in Many and is a Grade 1 for 3-year-olds.

Belmont Stakes

The last leg of the Triple Crown is the Belmont Stakes in New York. It is usually hosted three weeks after the Preakness. It’s the longest of the races in the Triple Crown, another Grade 1 for 3-year-old Thoroughbreds.

Breeders’ Cup Classic

The Breeders’ Cup Classic is a Grade 1 Weight For Age contest. It doesn’t have a set home, as it changes venues yearly. However, it’s still one of the wealthiest races in the world and thanks to American Pharaoh’s 2015 Triple Crown win and Breeders’ Cup success – it’s now the fourth leg of a racing Grand Slam.

The Travers Stakes

Happening during the summer at Saratoga in New York is the Grade 1 Travers Stakes, also known as the Midsummer Derby. There’s no older race in the US than this one, inaugurated in the mid-1800s. 

Top 5 International Horse Races

Here are the top five international horse races worth looking out for further afield.

Grand National

Hosted at Aintree in England, the Grand National is something special. First, run in 1839, it has a massive distance of more than four miles with 30 fences. The fences at the Grand National are bigger than regular National Hunt fences in the UK.

Prix de l’Arc de Triomphe

Paris, France is setting for the Prix de l’Arc de Triomphe, commonly just known as the Arc. It is a top-tier fixture flat race at Longchamp over one and a half miles. It’s one of the most coveted titles in European racing.

Dubai World Cup

Hosted at Meydan in the UAE is the Dubai World Cup, first held in 1996. It’s a real spectacle with one of the richest purses in the world, attracting entries from different continents.

Melbourne Cup

Australia’s Melbourne Cup remains one of the world’s wealthiest handicaps and is run over the 2m distance. It’s a massive occasion and the highlight of the Spring Racing Carnival on the first Tuesday in November.

Cheltenham Gold Cup

The UK’s most prestigious National Hunt fixture is the Cheltenham Gold Cup, part of the famous four-day Cheltenham Festival. It’s the pinnacle of chasing at a distance of 3m 2f. It was first run in 1819, with a rich history and a long list of legendary winners.

2022 Horse Racing Schedule

To help readers keep updated with the best horse races of the year, we list the world’s biggest races. Everything from the Kentucky Derby to the Breeders’ Cup and the Melbourne Cup is here. The dates help with planning and tracking horses.

Horse Racing Betting Terms

Understanding horse racing betting terminology will help get a deeper, richer grasp of the sport. Seeing a phrase pop up and immediately knowing what it relates to makes things a lot easier. To that end, here is some common racing jargon.

• Across The Board – a bet covering a horse to finish anywhere in the top three
• Blinkers – a piece of headgear that partially covers a horse’s eyes to narrow focus
• Colt – a male horse that hasn’t been gelded
• Derby – stakes race for 3-year-olds
• Filly – a young female horse
• Furlong – a distance mark of 1/8 of a mile
• Gelding – a castrated male horse
• Going – what the conditions of the racetrack are like
• Grade – the level of contest, Grade 1 being the top
• Handicap – weight adjustments to make a race more competitive
• Inquiry – the investigation of a horse race for foul play
• Juvenile – a 2-year-old horse
• Maiden – a horse that has yet to win a specific type of race
• Mare – a female horse
• Miler – a horse whose preferred distance, is 1m
• M/L – morning line opening odds
• Oaks – stakes race for 3-year-old fillies
• OTB – Off-track betting
• Pari-mutuel – pool betting, payouts come from losing bets put into the pot
• Place – a first or second-place finish
• Post – the starting gate in a race
• Purse – the prizes awarded for a race
• Scratch – a runner that has been withdrawn from the race
• Show – a first, second or third-place finish
• Trip – the distance of a race

To find out about using units when staking bets on horse racing, check out our guide.

Horse Racing Racebook Promotions & Bonuses

Racebook promotions are common and appear in different shapes and sizes. One of the most common types of bonus for horse racing betting is a Welcome Offer for new customers. We explore that and other types of racebook bonuses.

Sign-Up Offer

A sportsbook’s Sign-Up offer is the first one that a customer will take. An example of a sportsbook sign-up offer is a Bonus Reward on the first deposit on an account. Bonus funds may be subject to rollover requirements before withdrawal.

Free Bets

Racebook Free Bets are bonus bets that the operator credits. They don’t have monetary value, as any returns from a free bet won’t include the value of the free bet stake. They will also come with conditions on how and when they can be used and capped at a particular value.

Rebate Bonus

Popular among racebooks is the Rebate Bonus. Different sportsbooks will have different Rebate values. An example is up to a 9% rebate on qualifying racing bets, regardless of whether the bet wins or loses.

Risk-Free Bets

Risk-Free Bets are linked to free bet offers. These racebook free bets will only be credited if a particular scenario happens. An example is receiving a free bet back on your losing selection if a specific horse wins a race.

Money-Back as a Free Bet

BetUS have an example of money back as a free bet racebook offer, as they credit a free bet bonus if your horse finishes in second place in a Stakes. Bets will have to meet qualifying requirements to be triggered.

Loyalty

Sportsbooks offer other incentives such as a Loyalty Reward, where you can accumulate points for every dollar you wager on horse racing. Points earned can then be turned into cash or bonuses.

Insurance Bets

These are linked to horse racing betting options like a Pick 4 and other forms of combination bets. Insurance means that a stake will be rebated if a qualifying bet loses by only one leg.

Best Horse Racing Betting Apps & Mobile Sites

With a phone in hand, horse racing betting is just as easy to get done on a mobile device as it is on a computer, if not easier. There are horse racing betting apps available that tend to be a little more efficient with data usage. They make for quick, secure and highly convenient betting platforms.

Sportsbooks with a horse racing betting app will have links on their site to get it, or a search in the App Store can be done. However, things are a little different for Android users because betting apps aren’t always hosted at Google Play and in some instances, an APK will be needed. 

Even if a sportsbook doesn’t have horse racing betting apps, mobile versions of their site will work very well. Mobile sites will automatically configure themselves to the small screen, so they are as functional as a betting app. In addition, all features, bonuses and account management like deposits will be available. 

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Betting on Horse Racing Near Me

As we have touched upon already, different states have different rules about horse racing betting. What about in-person betting? The Professional and Amateur Sports Protection Act of 1992 (PASPA) was repealed in 2018.

This move opened the door for states to regulate sports betting within their borders as they see fit. Unfortunately, that led to more confusion, as some states only allow in-person betting at racetracks but not online, with interstate wagers unavailable. Others offer the full range.

Some states like Florida and Massachusetts offer off-track locations to place horse racing bets. However, some states like Washington and Wisconsin only provide it at selected Tribal Casinos, while in-person betting in Virginia can only be done through state-owned operators.

Virtual Horse Racing Betting

Virtual Horse Racing betting has become more popular, but what is it exactly? It is a game of chance that can be found in a sportsbook. A computer-generated horse race will play out on the screen.

It will be fictional horses, and a random number generator will produce results. Then, a player will select the odds, and the odds fairly represent the horse’s probability of winning the fixture. 

Think of each horse in a Virtual Race holding lottery ticket entries. The horse listed as the favorite will have more tickets, therefore, a greater chance of winning than the rank outsider. Virtual horse races are generated every few minutes.

Best Horse Racing Betting Site

Our selection for the best horse racing betting site boils is BetUS and we have come to that conclusion for several reasons. One of them is the excellent variety of racebook bonuses like money-back offers and rebates and solid options for Sign-Up bonuses.

There is also such good coverage of tracks worldwide, giving plenty of variety from Australia to the UK. Cards are laid out simply and are quick and functional to use. There’s a heavily populated sportsbook for dipping into other sports betting areas and their mobile version operates just as smoothly to cap it all off.

For those reasons and more, BetUS are top of our rankings and are worth paying a visit and signing up with for a quality racebook. 

And don’t forget, you can claim a new customer bonus of up to $3125 when using the BetUS promo code JOIN125.

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