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    LowPlays Horse Racing Betting Guide

    Everything you need to know about horse racing is packed into this horse racing betting guide. We introduce all the bet types, best US racebooks to bet with, top events to bet on, and even a brief history of how this equestrian performance sport became the beloved pastime it is today. Horse racing offers a truly amazing experience whether you approach it as a spectator or a bettor. If you’re new to the rodeo, then saddle up and get ready to dive in.

    How to Bet on Horse Racing in the US

    The Kentucky Derby, which is among the top globally recognized races in the world, is held in Louisville, Kentucky. The Preakness Stakes and Belmont Stakes that make up the Triple Crown races are also held right here on US soil, plus a host of other racing events. What this means is that horse racing is a big deal in the US. Fortunately, betting on the sport is rather easy.

    You simply register with a betting operator that covers horse races. Then, you fund your account, select a racing event from the list of upcoming races, and choose a bet type or market by clicking on the odds. Your selections will pop up in your bet slip, and you simply add your stake to confirm the bet.

    There are dozens of sportsbooks and dedicated racebooks providing betting options on horse racing events. This is currently the most widely accepted sport, available in some 40+ states. Here’s a list of the legal horse betting states:

    • 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

    Understanding Horse Racing Betting Odds

    The odds will tell you which horse has a higher chance of winning, usually because many people have backed it. Unlike the standard American odds format used for most sports, horse racing odds are fractional. You’ll often see odds written as 4/1, indicating that for each $1 bet, you win $4.

    Colorado and New Jersey are the only states that have approved fixed odds betting for this sport. Everywhere else, horse betting uses a pari-mutuel system (betting pools), which can fluctuate the odds even after you’ve confirmed your bet. I advise you to go for the top racing sites in the US that offer the Best Odds Guaranteed (BOG), so you’ll be sure of getting the best prices every time.

    Recommended Horse Racing Betting Sites

    My top picks for horse racing betting in the US offer a combination of Best Odds Guaranteed, a strong welcome offer, a smooth betting experience, and streaming coverage for those who want to follow the action live. I’ve also recommended those that are available in as many states as possible.

    FanDuel Racing

    This is FanDuel’s dedicated racing product, currently available in over 25 states. The smooth and friendly interface lets you easily access track listings, timeline for races, and more features. There’s also plenty of info on the racebook for new bettors looking to understand the basics of the sport. Everything from app streaming to horse stats and expert insights makes this an all-around perfect horse racing betting solution if you’re looking to win. Sign up for a new account, and you’ll get a No Sweat First Bet of up to $500.

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    DK Horse

    DraftKings’ racing betting platform comes in second on the list and is available to bet online or in-app in 20 states across the US. This racebook is partnered with Churchill Downs, which hosts the Kentucky Derby. As such DK Horse features all the best races accompanied by competitive odds. Stats and other educational material are also available here. When you sign up and play through twice your first deposit of at least $25, DraftKings will offer a 100% bonus match up to $250.

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    Caesars Racebook

    Caesars offers the best rewards in racing betting. The racebook starts you off with a 100% match bonus of up to $150 on your first deposit, but you also can benefit from the fantastic Reward Credits and Tier Credits via the Caesars Rewards Program. The racebook tracks hundreds of races globally and provides HD streaming for a good number of them. You can even watch replays on the app in 21 states where this offering is available.

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    Types of Horse Racing Bets

    The objective of horse betting is to choose the best horse in the race or predict the top-performing horses. But there are multiple bet types that can help you achieve this goal. They are usually separated into straight bets and system/exotic bets.

    Straight Bets

    Straight bets are the easiest way for beginner bettors to join the ride. They’re the most straightforward type of bets in horse racing and usually focus on the performance of a single horse in a single race. Here’s a breakdown of the different types of straight bets you can place:

    • Win – A bet on a horse to finish in first place. If the horse wins the race, you collect the payout.
    • Place – A bet on a horse to finish either first or second. There’s a lower payout potential because you now have two chances to win.
    • Show – A bet on a horse to finish in first, second, or third place. If the horse finishes in any of these positions, you collect the payout.
    • Across the Board – With this bet, you’re essentially placing three wagers on all three straight bet variations. If the horse wins, you collect payouts for all three bets. If the horse finishes second, you collect payouts for the place and show bets. If the horse finishes third, you collect the payout for the show bet. It’s a more expensive bet, but it increases your chances of winning something.
    • Each Way – The each-way bet uses two wagers instead of three. You can bet on a combination of win and place. If the horse wins, you win both bets. If the horse comes second, you win the place bet alone. You can also bet each way for place and show.

    System/Exotic Bets

    System bets are thus called because they take a more systematic or strategic approach. These exotic wagers usually combine multiple horse picks from the same race or different races, resulting in a wide number of different bets placed under a single – usually high stakes – bet amount. All your picks must win for you to receive a payout. For this reason, these bets are best suited for the more experienced bettors. Here are the most common horse racing exotics:

    • Exacta – This involves selecting two horses to finish in first and second place in the exact order, hence the name.
    • Trifecta – This bet requires you to pick three horses to finish in first, second, and third place. The horses must finish in the precise order you selected to receive a payout.
    • Superfecta – Similarly, a superfecta bet involves choosing four horses to finish first, second, third, and fourth – in that exact order.
    • Quinella – A variation of the exacta bet, a Quinella bet also involves picking two horses to finish in the top two positions, but the order doesn’t matter.
    • Daily Double bet  – This involves selecting the winners of two consecutive races. Both horses must win their respective races for your bet to win.
    • Pick 3, 4, 5, 6 – Taking the daily double a step further, this bet involves selecting the winners of three or more consecutive races. You can keep it simple by only selecting one horse per race (straight) or take your chances with multiple horses (systemic).

    The exacta, trifecta, and superfecta can also be played as boxed bets. In horse racing, boxing is a strategy that allows you to win these bets regardless of the order in which the races finish. For example, an Exacta Box bet on two horses covers all possible finishing orders: Horse A first and Horse B second, and Horse B first and Horse A second. You’re essentially placing two bets, so the cost is higher. On the positive side, you’ll get a payout regardless of how the horses place. The difference between an exacta box and a quinella is that the latter requires just a single bet.

    Complete History of Horse Racing

    Racing is ancient, as man and horse have been companions for a very long time. Understandably, no one can pinpoint when horse racing started precisely, but the earliest records of the equestrian sport can be traced to ancient civilizations such as Greece, Rome, and Egypt. The Romans brought the sport to the shores of Britain during their conquest, and that was where organized horse races began.

    By the 17th century, it became a popular pastime in England. Around the same time, the sport made its way to the American colonies. The first racetrack was laid out on Long Island, New York, in 1665. With the establishment of the National Trotting Association in 1870 New York City, racing started becoming regulated in the US.

    The early 20th century saw the rise of the iconic races like the Belmont Stakes, Preakness Stakes, and the Kentucky Derby. With a rich heritage and the influence of modern technology, horse racing is now one of the most exciting sports to watch and bet on.

    Top Horse Racing Events

    Races are usually available most times of the year at individual racetracks, but it’s these marquee events that are responsible for the massive betting handles the industry rakes in yearly:

    Kentucky Derby

    The Kentucky Derby is held every year on the first Saturday in May at Churchill Downs in Louisville, Kentucky. This iconic race, first held in 1875, is the first leg of the American Triple Crown. It covers 1.25 miles and is open to three-year-old Thoroughbreds. Traditionally, the winning horse gets draped in a blanket of roses. So it’s known as “The Run for the Roses.”

    Preakness Stakes

    Taking place two weeks after the Kentucky Derby, The Preakness Stakes is the second leg of the Triple Crown. It goes off over a distance of 1.1875 miles on a dirt track. It began in 1873 and is held annually at the Pimlico Race Course in Baltimore, Maryland.

    Belmont Stakes

    Held at Belmont Park in Elmont, New York, The Belmont Stakes is the final leg of the Triple Crown. It takes place in June, three weeks after the Preakness, and is the deciding race for Triple Crown contenders. Hence the reason why it’s called the “Test of the Champion.” This race was first run in 1867 and is the longest of the three at one and a half-mile distance.

    Breeders’ Cup

    The Breeders’ Cup World Championships is an international competition held at different tracks across the United States each year. The two-day event began in 1984 and features a series of races for different classes and ages.

    Other popular international events include:

    • Prix de l′Arc de Triomphe
    • Dubai World Cup
    • Royal Ascot
    • Melbourne Cup

    Horse Racing Betting News

    Horse Racing Betting FAQs

    What is horse racing betting?

    Horse racing betting, or simply horse betting, is the activity of placing real money wagers on one or more horses in one or more races.

    Can I bet on horse races live?

    Yes, you can bet live on horse races. All the top sportsbooks will provide live streaming on several events as well. However, Best Odds Guaranteed promotions may not apply to live bets.

    What is the single biggest racing event of the year?

    The Kentucky Derby, Preakness Stakes, and Belmont Stakes are the most popular annual racing events in the US. All three events culminate in the Triple Crown.

    How much should I stake on horse racing?

    How much you stake should depend on your bankroll and the max bet limits permitted by the betting operator. The minimum base bet is often set at $2. On the upper end, only stake what you can afford to lose and within the max limit set by the operator.