Horse Racing Betting Guide: How to Bet on Horse Racing, Types of Bets and More
Horse racing has a rich history in America, intimately linked with betting. In the U.S., laws differentiate between sports betting sites and dedicated horse racing applications. While traditional sports betting doesn’t typically cover horse racing, there are numerous promotions available for large events like the Kentucky Derby. This guide aims to introduce various betting strategies and highlight the best platforms available for horse racing bets.
Finding the Best Horse Racing Betting Apps and Sites
Major U.S. Horse Racing Betting Brands
| Brand | Promo | Promo Code |
|---|---|---|
| FanDuel Racing | No Sweat First Bet of up to $500 | None required |
| TwinSpires | Up to $400 in Bonus Funds ($100 per $400 wagered) | CBSSPORTS |
| 1/ST BET | Up to $250 in Bonus Funds ($25 per $100 wagered) | 250BET |
Some leading platforms include FanDuel Racing, TwinSpires, and 1/ST BET, all offering appealing bonuses for newcomers, particularly during major races like the Kentucky Derby.
Popular Betting Types
Horse racing offers various wagering options, including traditional bets such as Win, Place, and Show. These wagers vary in risk and reward:
- Win: Bet on the horse to finish first.
- Place: Bet on the horse to finish in the top two.
- Show: Bet on the horse to finish in the top three.
Additional Bets
You can combine different types of bets:
- Win/Place: A $2 Win/Place bet costs $4 total.
- Across the Board: A $2 Across the Board bet costs $6, covering all win, place, and show outcomes.
Exotic Wagers
For those seeking larger payouts, exotic bets such as Exactas and Trifectas allow bettors to predict multiple horses’ finish orders.
- Exacta: Predict the top two horses in the exact sequence.
- Trifecta: Predict the top three finishers.
Tote Betting vs Traditional Sports Odds
Horse racing employs parimutuel wagering, differing from conventional sports betting odds, as your payout can fluctuate based on real-time betting trends until the race starts. The odds at post time dictate payouts.
High-Stakes Events
The Kentucky Derby is notable, with a maximum of 20 competitors, requiring horses to collect qualifying points for entry. Additional events in the horse racing calendar include the Preakness Stakes and Belmont Stakes.
Triple Crown Overview
The Triple Crown comprises the Kentucky Derby, Preakness Stakes, and Belmont Stakes, with few horses achieving this honor. Notable modern winners include American Pharoah and Justified.
Responsible Betting Practices
Ensure responsible gambling by utilizing resources provided by racebooks, and maintain awareness of state regulations regarding horse racing betting. The minimum age typically stands at 18, varying by state.
As loyal fans of horse racing, understanding reading forms and historical performance data is vital for successful betting. Pay close attention to conditions of the racing track, trends in horse performance, and their trainers and jockeys’ backgrounds to make informed decisions.
