Horse racing is one of the oldest forms of betting and therefore is legalized in most states. Betting is allowed at racetracks, off-track betting venues, or online sites that offer horse betting. When you enter to play, your wager is placed in a prize pool, and winners share their winnings by a process called pari-mutuel betting. If you are not sure where to start, you are at the right place; we will cover the different racing events, types of bets, laws around horse race betting, modes of payment, and how you can start to bet online.
We can all agree betting online in the comfort of your own surroundings is easier, faster, and more comfortable than at a facility. What do you need to make that happen?
An account with an online betting site
A valid credit/debit card
Access to internet
A mobile device/laptop/computer.
The best part is that you can play across any major site worldwide, and you are not restricted to your state/country (keep the state laws in mind, if any). Before you commit to playing on a site, look at the terms and conditions and the details of deposit/withdrawal methods. Select the one that best suits your needs and proceed ahead.
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Some bettors might think that the site they chose to bet on doesn't matter. BUT don’t be fooled. It’s the little things that make a good website great! These minor changes may not be evident to a new bettor, but you will soon realize the importance of a great website after you’ve experienced playing on a great platform.
Be extremely careful when choosing the site you will play on, mainly because you are depositing money into the account. We recommend that you do your research beforehand and follow our recommendations. Your online safety is our utmost priority.
Horse race betting has historically been allowed in most states. Before the Unlawful Internet Gambling Enforcement Act of 2006 was signed, different kinds of online gaming were encouraged. The act impacted sportsbooks, poker sites, and casinos, but horse race betting was not part of this act.
So what kind of betting is allowed? Pari-Mutuel betting pools enable players to bet within the state borders, 30 of the states at the moment. What is left to the jurisdiction of individual states? Simulcast wagering as well as on-track and off-track betting. Keep in mind that a bettor needs to be at least 21 years of age.
If you are used to sports betting, you might have to get used to some differences in Horse Race Betting. As we mentioned above, horse race betting is done using a system called pari-mutuel betting. This means that total wagers, like win, place, show, and trifecta bets, are collected and placed into one pool. In the end, the pool is split between the winning tickets. Even a last-minute bet will further divide the prize pool into more tickets.
One can bet on an individual horse or many horses in a given race. You can bet in the order they will finish during that race or across multiple races.
Let’s look at the different kinds of bets:
Win - It is the most common kind of horse bet. Here you will predict who you think will win the race.
Place - Select the standing you think your horse will finish up at, i.e., first or second.
Show - Select the standing you think your horse will finish up at, i.e., first, second or third.
Exacta - Select two horses in the order you think they will win. Multi-Horse bets are allowed.
Trifecta - Select three horses in the order you think they will win. Multi-Horse bets are allowed.
Superfecta - Select four horses in the order you think they will win. This may be the hardest to bet on, but the payout is big.
Pick 5/6 - Select winners of multiple races at a particular track every day. If the pick bet loses the prize pool, the next day’s prize poll is inclusive of the previous day (i.e., it rolls over), increasing the winnings tremendously. This gives other people an opportunity to join in on the fun.
Futures - Combine future bets for the major race meetings, like the Triple Crown.
With the new technology, you have a chance to bet on your computer (desktop or laptop) in addition to your mobile phone and tablet. You can use the browser version for most of the brands. However, if you’d instead download an app, those are available too. Websites will adjust to your screen size, and links will be embedded behind icons to maximize space.
Are you ready to register for a new account on a horse betting site? With just a few steps, you will be on your way:
The site will detect your location to make sure you are allowed to play
Provide the last four digits of your Social Security Number to ensure you are 21 years or older.
Bonuses and Promotions
After doing your research, when you select your preferred site to bet on, make sure they offer sign-up bonuses and promotions. This is an exciting way to add some free money to your account. Promotions and bonuses play a vital role in the online betting world. This is because it is not always easy to win, but with bonuses offered, you will have a chance to recover partially for any of your losses. However, if you are on a winning streak, a little extra cash in your pocket wouldn't hurt. If you are a seasoned bettor, you will take advantage of any or all the promotions the site offers. This is what will send you apart from an amateur player. Just betting on the sites is not enough. Be willing to utilize all avenues to increase your bankroll after reading through the terms and conditions of the promotions/bonuses.
An outstanding offer to look out for is by TVG. They give their members a first-time deposit bonus of $250. Each site offers some exquisite bonuses, so be sure to look out for them when you are considering your preferred betting site.
We have put a list together with some basic information that will be useful for you to get a headstart. Some people prefer choosing websites that are local to them. There could be many reasons for that. Let’s look at a few reasons:
Prefer betting in their local currency
Local legal policies could be easily maintained locally
Make sure to do your research before heading over to the signup page. Here are some of the options we recommend:
A pro tip to keep in mind is don’t be restricted to try only one site. Shop around multiple sites to know who offers the highest wager on the same bet. This will be beneficial to you, and you will make more money.
When choosing a site to bet on, you’ll want to make sure they have all of the following. These things will make betting on horse racing sites legit and safe.
The site that you chose to play on should have a gaming/betting license. This is the number one factor to keep in mind when evaluating the site. Ensure that the license is acquired from a reputable agency that has strict policies in place. Many organizations are lenient as well, so it is crucial to do a little research about the agency that has granted the license. The following is the criteria that the license is stringent upon:
Segregation of deposited funds
Audits and/or testing conducted regularly
Ideal security measures
High-level encryption to ensure safety for all financial transactions
Horse Racing coverage
It is important for the site to offer a wide range of races and horses that you can choose from. From the more famous ones to the lesser famous ones, you should have that flexibility available to you when you bet online.
Variety of Betting choices
Competitiveness of horse betting odds
Quality of betting platform
Ease of use
Bonuses, promotions, and rewards
So although some people may not understand the true benefits of choosing the right website, we hope you have a clear understanding of why it is important to keep these factors in mind.
The process of depositing money into your betting account is safe and straightforward. Let us look at some of the most commonly accepted methods to deposit money:
Visa Card (debit/credit)
Prepaid Debit Cards
Visa Gift Cards
Bank Transfers/Express Funding/Expressfund
PayNearMe (local 7-Eleven store)
Make sure to check with your bank if any service fees are applicable for such transactions.
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Thirty states in the US allow residents to place online horseracing wagers. They are:
Most of the sites give you an option to stream the races directly to their site or app. You can also tune into TVG on the TV and catch the relevant race you would like to see, 24 hours a day.