Last updated on: June 14th, 2022
Horse Racing Betting In The US
Though not considered to be sports betting in the traditional sense, horse racing betting could also be argued to be among the oldest forms of sports betting in the country, if not the entire world. In fact, legal horse racing betting in the US has been around since at least the early 1800s, and there are even racetracks still in operation that date back to the middle of the 19th century.
For well over 150 years, horse racing has been the most popular sport to wager on, and though track attendances are suffering in modern times, the actual gambling popularity of the ponies is at an all-time high. There are several kinds of horse racing disciplines that American bettors enjoy, including Standardbred runs, harness racing events, and Thoroughbred racing. This latter, the so-called Sport of Kings, is the most sought-after.
Indeed, the oldest continuously-held sporting event in US history – of any kind – is the Kentucky Derby, which was first run in 1875 and remains the ultimate Thoroughbred horse meet on the planet. The Kentucky Derby isn’t just the Super Bowl of horse racing, it’s a global phenomenon that has no real rival or analog. For many gamblers and other sports bettors, the Derby – and the magnificent sport it represents – is the highlight of the year. In other words, the Kentucky Derby (and, to a lesser degree, the other Triple Crown races) will keep horse racing relevant for decades to come. If you’ve ever been interested in horse racing betting, or if you’re just drawn to these regal creatures in general, now is the time to learn the ropes and start enjoying your days and nights at the races, whether in person or over the Internet – or both!
Is Horse Racing Betting Legal In The United States?
Yes, horse racing betting is indeed legal in the United States. Most states offer regulated options for legal horse racing betting and locals can go place their bets at local race tracks. Currently, 40 markets offer some form of betting on horse racing. States can offer odds on horses races thanks to the Interstate Horseracing Act. Even in markets without racetracks or regulated horse racing, thanks to online sportsbooks there are legal options for horse racing betting in all states. The typical betting age for horse races is 18. Horse racing betting is regulated separately from sports betting.
Where Can I Legally Bet On Horses?
There are several places to bet on horses across the US. Horse racing is available in most states, excluding only Alaska, Georgia, Hawaii, Kansas, Mississippi, North Carolina, South Carolina, Utah, Vermont Wisconsin, and Washington, D.C. There are a total of 37 states that have race tracks and all but one state, South Carolina, offer odds at their local racetracks. Alabama, Connecticut, and Rhode Island are the only states that offer odds on horse races but do not have a local racetrack.
Every state, however, has access to legal horse racing betting through online operators. Racebooks like those found at Bovada, SportsBetting, and BetDSI offer odds on all major races throughout the year. These sites are legal and accessible on mobile devices. Mobile compatibility makes them available anywhere at any time so legal horse racing can be done legally anywhere in the US.
Those looking to cash in big on horse racing betting will find that Bovada is the perfect home. Whether you are looking to bet on the Triple Crown races in the Kentucky Derby, Belmont Stakes, and Preakness Stakes, or are looking to place action on the Breeders’ Cup, fans can find odds at Bovada. Bovada offers odds on the outright winner for the race, exotic bets like betting on the trifecta, or even head-to-head matchups for horses. The options available at Bovada are seemingly endless. Bovada is accessible through mobile devices, leading to anytime anywhere betting and the sportsbook is available in most states regardless of the state’s horse racing betting laws.
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Are The Races Available At My Local Track Available Online?
More than likely yes. Online sports betting sites offer betting lines for pretty much all races throughout the year. Horse racing betting is a popular betting activity and online sportsbooks consistently incorporate betting lines for all sporting events, especially horse racing betting. The best part is that players can find their local track races at multiple books, allowing them to compare odds to find the best one., this is known as line shopping. It is to be noted, however, that betting fans will get more local and regional action at a retail OTB or simulcast-ready racetrack than you will at a licensed sportsbook.
The local OTB venues simply have more options available at their state-regulated books because they are built specifically for the events taking place there. But, a major benefit that online licensed sportsbooks have over local OTB’s is that betting fans have more options for races outside the local tracks as well. This means players can wager on both their local races and races in other US venues. Online sports betting is still one of the better options for betting on sports at your local track.
Breeders’ Cup 2022 Betting
The Breeders’ Cup is an annual horse race that is held every year at different locations. This is one of the biggest races yearly as the prize purse varies from between $1 million and $6 million. Fans can recognize horses who compete in this race from events like the Triple Crown races and local state derby’s. Many horses who place well during events like the Kentucky Derby will be seen competing in the Breeders’ Cup. This is a two-day event and kicks off on Friday, November 4-Saturday, November 5.
2022 Belmont Stakes Odds
- We The People +225
- Mo Donegal +275
- Rich Strike +400
- Creative Minister +650
- Nest +800
- Barber Road +1200
- Skippylongstocking +2000
- Golden Glider +2200
Kentucky Derby Odds
The Kentucky Derby is one of the major Triple Crown races that take place annually and is the first of the three races. The race is held on the legendary Churchill Downs race track where all-time great horses have made names for themselves. Racebooks host odds for the overall winner of the event, head-to-head matchups for horses, and exotics bets are available as well. Live horse race betting is also an option during the Kentucky Derby. Betting on the Kentucky Derby early is the best way to play, as odds are long for all major horses.
Preakness Stakes Odds
The Preakness Stakes is the second major Triple Crown event and is one of the biggest races every year. Online sportsbooks host betting odds for this big race and some of the biggest names in the business compete for the big prize. The Preakness Stakes is held at the Pimlico Race Course and hosts a purse of $1 million. Placing action on the Preakness Stakes gives betting fans options for betting on the exacta, superfecta, trifecta, and more. There are even options for head-to-head matchups between individual horses. Betting on the Preakness Stakes is filled with options for maximum winning potential.
Belmont Stakes Odds
The third of the Triple Crown events is the Belmont Stakes. The Belmont Stakes takes place at the legendary Belmont Park and longshot betting fans can find action on this event at this event early on, even directly following the Kentucky Derby. A big thing with Belmont Stakes betting is seeing if a single horse won the Kentucky Derby and the Preakness Stakes. If this racehorse could also take the Belmont Stakes, betting fans could cash in on betting If there will be a single Triple Crown winner and take all three races. The Belmont Stakes also has a plethora of exotic wagers and straight bets for horse racing betting fans as well.
Horse Racing Wager Types
In order to really enjoy the full gamut of legal horse racing betting in the US, you need to make sure you understand the basic wager types. There are a few specific terms you’ll need to know, but for the most part, your betting options are going to be relatively straightforward. Even better, these terms are all totally institutionalized, and all racetracks, OTBs, and offshore betting sites use identical terms. The only difference you’re likely to come across between various betting outlets is how they advertise their odds. Most in-person venues will use fractional odds, while most racebooks on the Internet will use moneyline odds. (A select few European outlets still use decimal odds, but you will rarely come across these as a US bettor.)
There are two main types of horse racing wagers: straight bets and exotic bets. These cover everything but futures bets and specials, which are limited to overseas books and are typically only available for the biggest races on the calendar.
Horse Betting Straight Wagers
There are four kinds of straight wagers in the horse racing betting world. You can place Win, Place, Show (aka W/P/S or WPS) and “across the board” (ATB) bets.
- Win – A “Win” bet means that you simply pick a horse to win the race. If the horse wins, you win, and if the horse loses, you lose. Simple.
- Place – “Place” bets require you to pick a horse, and if that horse finishes in 1st or 2nd, you win.
- Show – A “Show” bet means that you pick a horse, and if that horse finishes in 1st, 2nd, or 3rd, you win.
- Across the board – ATB bets are similar to the above, but you’re betting on all three WPS results for a specific horse. For example, let’s say you pick a horse “across the board”. If that pony wins outright, you receive all of the Win, Place, and Show amounts. If the horse finishes in 2nd, you get the Place and Show amounts. If the horse finishes in third, you get the Show amount. The more chances a given wager gives you to win, the more expensive that ticket is. Where this really comes into play is with exotic bets.
Horse Racing Exotic Wagers
Exotics are akin to parlay bets in sports wagering. Essentially, you are wagering on multiple horses and multiple outcomes, all on the same ticket. If you want to make big money with your horse racing bets, exotic wagers are what you need to stick to. There are two main categories of exotics, commonly called “horizontal” and “vertical.” Horizontal exotics are wagers that pertain to one single race. Vertical exotics refer to wagers that cover multiple races on any single day at a given track.
The main horizontal exotics are the exacta (aka perfecta, in some markets), trifecta, and superfecta. These types of exotic bets can also be “boxed,” which is a strategy many horseplayers use.
- Exacta/Perfecta – If you place an exacta bet, you are picking two specific horses to finish in 1st and 2nd place, in that exact order. You can “box” an exacta, allowing the horses you choose to finish in either order, but you will be wagering a set amount for each possible winning outcome. You can also box an exotic wager with more horses, but again, this increases your chances to win and therefore costs more to place the bet. For example, if you “box” an exacta with three horses, only two must finish in first or second, in either order. As there are six possible winning outcomes, you will pay six times what a single exacta ticket would cost. The more horses you box, the larger the price of the overall wager.
- Trifecta – A trifecta is exactly like the exacta above, except that you are picking three horses to finish in 1st, 2nd, and 3rd, in the exact winning order. You can box a trifecta bet with as many horses as you wish, but the price gets steep in a hurry. For example, in the Kentucky Derby, a $1 trifecta win might earn you $100. That’s a nice payout. But if you box your trifecta with six horses, at $1 per possible winning combination, you’d spend $120 on the ticket. Even if your six-horse box trifecta hits, you’re still out $20!
- Superfecta – A superfecta is the same as an exacta or a trifecta, but here, you’re picking the four horses to finish in 1st, 2nd, 3rd, and 4th, in order. A $1 superfecta bet can be boxed, and a winning ticket can pay upwards of $20,000 or more. Again, however, boxing these can get pricey in an instant. A 13-horse boxed $1 superfecta has 17,160 different winning combinations, so it will cost you $17,160. Even if the payout is $20,000, that’s a pretty outsize risk for most gamblers.
Vertical exotic wagers are commonplace, and these allow bettors to place a single wager covering several different races’ results. The most common vertical exotics that you’ll find will be referred to as Pick 3, Pick 5, or Pick 6 wagers. A Pick 3 bet requires you to choose three of the day’s races at a particular track and correctly pick each of those races’ winning horses. Pick 5s work the same way, except you’re picking 5 different race winners. Pick 6s are again the same, only you’re selecting 6 different races’ winners.
Not all tracks have Pick 5s and Pick 6s, but just about every single horse racing bookmaker will have Pick 3s and – even more commonly – “Pick 2s,” which are usually referred to as Daily Doubles. Some tracks will let you pick the races you’re betting on, while others will mandate specific races that such vertical exotics apply to. Daily Doubles almost always require you to wager on two consecutive races, making them quite a lot tougher than they might otherwise be. Vertical exotics have huge moneymaking potential, and many lucky bettors have won hundreds of thousands of dollars hitting on comparatively inexpensive Pick 5 or Pick 6 bets.
Other Ways To Legally Bet On Horse Races
Outside of the betting types mentioned earlier, there are even more options like futures, prop bets and two-way betting. Online racebooks, both regulated and international, and physical racetracks all offer betting lines such as these and more. You will find there is no shortage of ways to wager on horse races. Particularly during the Triple Crown, events you will find a slew of odds and betting lines available.
Horse Racing Futures
Futures represent outcomes that are still far off on the horse racing calendar. The best example of horse racing futures occurs in the lead-up to the Kentucky Derby, and these are posted before the final field is set. Though the Kentucky Derby can only be run between a maximum of 20 different horses, the futures lines posted at most overseas bookmakers have 40+ ponies to choose from. Half or more of these won’t even make the Run for the Roses, meaning that you’d lose the bet if you pick a horse that doesn’t make the cut.
Futures bets are never refunded if your horse doesn’t actually run in the race, regardless of why. Even if the pony is a late scratch, a futures bet is always binding and always has action. (A reputable book will typically refund a race-day scratch for pari-mutuel bet types, but futures are house-banked, not pool-based.)
Horse Racing Props
Horse racing prop bets are akin to proposition wagers in other sports, where the book provides you with any number of scenarios, and you choose whether or not that scenario will happen. Horse racing props typically come in the form of a yes/no or over/under wager, and like futures, these are almost always exclusively house-banked rather than pari-mutuel. As such, you can only really find a comprehensive slate of horse racing props at offshore racebooks.
Some examples of horseplayer props you might come across include things like whether or not a given pony will beat the course record, how many lengths the winning horse will win by, whether or not a given trainer’s horse or horses will podium, and so on. Prop wagers are always a ton of fun, and in some ways, it’s a shame that they’re only really available online. However, they’re a great reason to join an offshore racebook, even if you have easy access to a local track or OTB.
Mobile Horse Racing Betting
One of the highlights of going to any horse racing venue is going through the ticketing process of placing your wagers. If you have any interest in horse racing betting whatsoever, you’ll definitely want to experience this time-honored tradition. However, most folks cannot get to the racetrack as often as they’d like – or even get to a track at all, depending on where they live. For them, mobile horse racing betting is a godsend. Mobile horse racing betting allows you to use your online racebook of choice from wherever you are in the US.
All the top horse racing betting sites offer comprehensive, small-screen-optimized portals that work perfectly with any modern smartphone or tablet. You don’t need any special iPhone, iPad, or Android apps, either; rather, you simply visit your book via your device’s mobile browser, and you’ll get a customized, one-tap experience where you can place any horse bet you wish, at any national or international track supported by your bookmaker. This kind of wagering is extremely popular, and the expanded reach that mobile horse racing betting offers to the institution of the sport itself cannot be overstated.
Common Terms Used During Horse Races That All Bettors Should Know
Often when listening to commentators as you’re watching a race, they will use terms that only seasoned horse racing goers would understand. It’s important to know what these terms mean when it comes to betting on a horse. If you’d rather pick a horse based on what you’re seeing rather than it’s listed odds, these words will help you all the more.
Made All – When they say that a horse “made all” it means that they got themselves into first place during a race and remained there till the end.
Dwelt – Basically meaning when a horse trots at their own speed and does not try to get ahead in the race by galloping at a faster rate.
Supplement – To supplement a horse means that the horse has entered the competition during its final rounds. To supplement a horse means the owner will typically have to pay in order to get the horse a spot.
EW – When EW is referenced in horse betting it stands for Each Way bet. This bet has two sections; for the horse to win and then for the horse to place.
Quinella – Two horses are chosen and if those horses finish first and second is either order, you win. Secondary term for an exacta box.
Are The Online Racebooks Safe?
Yes, the online racebooks we recommend are safe to use. Whether you use websites like Twinspires and TVG, or turn to offshores like Bovada and BetOnline, you should be in good hands. Just make sure you stick to the websites that are vouched for by those you trust. We as a website cannot vouch for every single online racebook, only the ones that we use.
What’s The Difference Between Offshore And State Sanctioned Books?
In terms of how it affects you, the wagerer, functionally none. They offer the same odds and the same functionality. However, the state sanctioned books are just that – state sanctioned. They might have mildly worse odds, given that they are taxed, but they could be a good option depending on your preference. The choice is up to you.