Powered by:
as known from New York Timesas known from USA Todayas known from yahoo!
VA
Contains commercial content
The Grueling Truth - Where Legends Speak / How to Bet on Horse Racing in 2023: Betting on Horses Explained (+ Best Bookies)

How to Bet on Horse Racing in 2023: Betting on Horses Explained (+ Best Bookies)

How to bet!
Publish Date: 04/29/2022
Fact checked by: Mark Lewis
New Mandate Frankie Dettori wins The Paradise Stakes from L Sir Busker Jim Crowley. Ascot Horse Races, UK - 27 Apr 2022

Today we are going to look at how to bet on the Horses

This is the best time of the year for a new gambler to throw his hat in the ring to bet on the horses. The Kentucky Derby is less than two weeks away and today we are going to show you how to bet on the Run for the Roses! Check out the best bookmakers for betting on the Kentucky Derby!

Where to bet on Horse Racing

US Sports Betting Sites for Horse Racing Best Apps for Horse Race Betting, these apps make it even easier to bet on tracks all across the world! It used to be the only way to legally bet was to go to your local track but with advancements in technology, all the races sit in the palm of your hand.

Where to find odds on horse racing

Maybe the most important thing when betting on the horses is getting the best odds on the races.

Odds can very on different sites so it is always a wise idea to check out all of the different odds for the race or races you want to bet.

Check out the top sportsbook bonuses for betting on the Kentucky Derby!

DraftKings
1.
Favicon
4.6/5
Bet $5 Get $150 Instantly
Virginia
Players from Virginia accepted
Requirements (WR): 1x Bonus, Min. Deposit: $5
Go to DraftKings
Get Bonus
T&Cs apply, 21+
FanDuel
2.
Favicon
4.6/5
Bet $5 Get $150 in Bonus Bets + 3 Months of NBA League Pass
Virginia
Players from Virginia accepted
Requirements (WR): 1x Deposit, Min. Deposit: $10
Go to FanDuel
Get Bonus
T&Cs apply, 21+
BetMGM
3.
Favicon
4.5/5
up to $1,500 back in Bonus Bets
Virginia
Players from Virginia accepted
Min. Deposit: $10
Go to BetMGM
Get Bonus
T&Cs apply, 21+
Bet365
4.
Favicon
4.5/5
$1000 in Bonus Bets
Virginia
Players from Virginia accepted
Min. Deposit: $10
Go to Bet365
Get Bonus
T&Cs apply, 21+
Place your first cash bet up to $1,000, and if the bet loses, you will have your wager refunded in Bonus Bets. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
BetRivers.com
5.
Favicon
4.5/5
–
Virginia
Players from Virginia accepted
Get Bonus
T&Cs apply, 21+

Types of betting

Straight Wagers

When newcomers first encounter horse racing, the three most common “straight” bets they are familiar with are Win, place, and show. All three of these wagers required a minimum stake of $2 in the past, but they are now available for as little as $1 at most places. Let’s take a closer look at each of these wagers.

WINΒ This bet, like its name, requires that your selection finishes as the winner of the race.Β The track will vary the takeout rate for a Win bet, which includes Place and Show wagers. It is usually between 15-20%.Β The rest is distributed to the Win ticket holders on the horse that placed first.Β (The Place and Show pools are separate. The Win pool is not included.

Win odds, unlike Place and Show, are easily accessible by looking at the tote board or TV monitors. If you’re using an internet device, your screen will also display the win odds. These odds are often calculated using the horse’s odds. To make winning and finding the right sportsbook even easier we put together a guide rating the top horse race betting sites!

With seven minutes left to post, the #6 horse is the favourite at 8-5 or 1.6-1.Β You would win $1.60 per $1 wagered and get your stake back if the horse wins.Β A $2 win bet would pay $5.20.

The payoff for the #4 horse that wins at 29-1 would be a minimum of $60, and up to $61.80 depending on breakage.Β Breakage, a track that calculates payoffs, is used to round them to the nearest 20-cent increment (10c in New York). This allows for more flexibility than paying exact amounts (e.g.Β Instead of paying $60.80, a $60.94 calculated payoff would be $60.80.

The level of play received by each horse determines the Win odds. It’s difficult to gauge the difficulty of this wager. However, it is more complicated than Place or Show wagers. You would only bet on the favorite to win each race and you would cash on an average of one out three races. Despite the higher rewards, the average decreases for higher-priced horses. Check out the top new sportsbooks for betting on the Derby!

PLACEΒ Place betting requires that your selection finish either first or second.Β Although it’s easier than a Win bet to cash, the payouts are usually smaller because the Place pool is divided in two (bettors who place money on the first and second horses divide the pool).

Because they depend on the order in which the horses are run, place odds and probable payoffs may not be readily available to all.Β Although there are methods to calculate approximate payoffs using the money placed on each horse in the Place pool, it is best to just enjoy the race and not obsess over the math.

SHOWΒ This is the easiest of all three straight wagers to win cash. It requires that your selection finish either first, second or third.Β It’s the easiest of the three straight wagers to cash. Due to the fact that the pool is split among three ticket holders, the payoffs may be low.Β The Return on Investment (ROI), if you are betting favorites, can be as low as $1 per $2 wagered.Β Place bets have similar odds, but it is possible to calculate an approximate return.

Check out the top sportsbooks for betting on Horse Racing!

DraftKings
4.6/5
DraftKings Review
Bet $5 Get $150 Instantly
T&Cs apply, 21+
Visit Site
FanDuel
4.6/5
FanDuel Review
Bet $5 Get $150 in Bonus Bets
T&Cs apply, 21+
Visit Site
BetMGM
4.5/5
BetMGM Review
up to $1,500 back in Bonus Bets
T&Cs apply, 21+
Visit Site

Show bets can be very exciting for beginners, especially if they have a low-risk threshold. However, for those who are more experienced than that, the equivalent of pocket money may not be as thrilling.

The race is over and the winners have been announced.Β What have we won?Β Based on the graphic above:

$2 win on #1$7.40$4 Win$0$2 win on #3$0$2 Placement on #1$4.00$4 Placement at $2$12.80$2 Placement on #3$0$2 Show on #1$2.80$4 Show, $2$9.20$3 Show on #3$6.20

Straight bets on horses other than these three are losing ones.

For a potential higher return, newcomers may be interested in placing $2 to Place, Win, and Show (or “across the board”) on their horse. The $6 investment made on #1 would have yielded $14.20, $22 on #4, and $6.20 on #3. Yes, it is possible to lose money betting on all horses if your horse finishes in the second or third place and the cumulative payouts are less than $6. Make sure you check out all of the upcoming horse racing odds!

Exotic Wagers

AllΒ nonstraight wagersΒ can be referred to as exotic. They are often difficult for newcomers to horse racing to win unless they have amazing beginner’s luck.Β TheΒ EXACTAΒ (picking the first two finishers of a race in exact order) andΒ QUINELLAΒ are the easiest to cash on. This bet does not have wide availability, but it is possible to pick the winners of both races.

It is best to use multiple horses to tackle the Double or Exacta.Β A $1 Exacta wheel with horses 1 and 2, in first place, and horses 3, 4 and 5, in second place would run $6 ($1 per combination).Β A $1 Double wheel of horses 1 & 2 in Race 1 would cost $4.

TheΒ SHOW PALAYΒ is a popular way to bet on horse racing. This can be done individually or as a group.Β Let’s say four friends invest $10 each in a Show Parlay. Then they collectively decide which horse to show $40 on.Β The group will have $80 to spend in the next race’s Show Pool if the horse finishes in top three and pays $4.Β They will continue to re-bet their winnings until they lose (where the maximum each person loses is $10) or they will choose to stop after spending several hundred dollars.

Although there is some luck involved, it’s a great way for those who aren’t afraid to try horse racing betting without taking on a large amount of risk. This is a great way to make a low risk, low reward Show wager more exciting and can create a lot of excitement for your first horse racing experience. Of course, knowing how to win is the biggest thing of all when it comes to any form of betting. Betting on the horses, especially for the first time is never easy but here at the Grueling Truth, we are here to help you win right from the very start. So we put together a quick guide to help you win Horse racing betting.

Read Also
Tommy Morrison and AIDS: The Truth about what happened
Tommy Morrison burst onto the professional boxing scene in 1988. Following a ...
Esteban de Jesus, Roberto Duran y AIDS (1972-89)
Many of us dream of celebrity sports fame, but only cruel individuals ...
BetMGM Promo
Michael Nunn and Iran Barkley Discuss Their Bout, Bob Arum, and the Four Kings
Mountains to Climb, Pebbles in Your Shoe β€œI always say that was ...
Ranking the top 200 players in the NFL ahead of the 2021 season
This list isn’t based solely on performances from the 2020 NFL season. ...
Top 100 NFL free agents entering the 2021 offseason
Below is a list of the top 100 free agents available this ...
Lady Tyger’s Tale: How Marian Trimiar Mauled the Boxing Establishment of the 1970s and 80s
To Feed the Ambition in Your Heart is Like Carrying a Tiger ...
The Forgotten Canadian Champion (And Maybe It’s Deserved): Billy Hawkins
As Mike Goodpaster and I prepare our popular Old-Time Boxing Show podcast, ...
The Army Boxer Who Knocked-Down Muhammad Ali (1960)
I had wanted to write a boxing story about Junebug Hudson for ...
Sportsbook of the month
PointsBet - Get your Bonus Bet now!
-
Latest News
Top-10 Super Middleweights in Boxing History
The Super Middleweight division hasn't been around a ...
Top 10 Wins in Xavier Basketball History
I thought about making a list like this ...
Mobile market initiatives tackle Atlantic City’s supermarket void
People in Atlantic City, New Jersey, which has ...
Our Latest YouTube Videos
Video: Indiana Basketball weekly W/Steve Risley: IU/Harvard Preview and UCONN and Louisville Recaps!
Indiana Basketball weekly W/Steve Risley: IU/Harvard Preview and UCONN and Louisville Recaps!
Video: Philadelphia Eagles vs Dallas Cowboys *Game of the Week* Preview and Prediction!
Philadelphia Eagles vs Dallas Cowboys *Game of the Week* Preview and Prediction!
Video: NFL Indianapolis Colts vs Cincinnati Bengals: Preview and *Prediction*
NFL Indianapolis Colts vs Cincinnati Bengals: Preview and *Prediction*
Betting Tips
12/10/2023 - 1:00 pm
Paycor Stadium
Tip:
Bengals to Cover
-1.50
FanDuel
12/09/2023 - 8:00 pm
Crypto.com Arena
Tip:
Indiana to Cover
4.00
FanDuel
12/09/2023 - 3:00 pm
Gillett Stadium
Tip:
Navy to Cover
3.00
FanDuel
Sportsbook of the month
PointsBet - Get your Bonus Bet now!
-
Top Betting Sites
Top Betting Bonuses
DraftKings
DraftKings
DraftKings Review
4.6/5
FanDuel
FanDuel
FanDuel Review
4.6/5
BetMGM
BetMGM
BetMGM Review
4.5/5
Bet365
Bet365
Bet365 Review
4.5/5
BetRivers.com
BetRivers.com
BetRivers.com Review
4.5/5
DraftKings
DraftKings Bonus
Bet $5 Get $150 Instantly
T&Cs apply
4.6/5
FanDuel
FanDuel Bonus
Bet $5 Get $150 in Bonus Bets
T&Cs apply
4.6/5
BetMGM
BetMGM Bonus
up to $1,500 back in Bonus Bets
T&Cs apply
4.5/5
Bet365
Bet365 Bonus
$1000 in Bonus Bets
T&Cs apply
4.5/5
Place your first cash bet up to $1,000, and if the bet loses, you will have your wager refunded in Bonus Bets. T&Cs, time limits and exclusions apply. Gambling Problem? Call 1-800-Gambler 21+
Caesars
Caesars Bonus
100% up to $1000
T&Cs apply
4.5/5
Our Team
Mike GoodpasterJosh SchwartzAuthor IconSimon BriffaMark Lewis
+10
Mike Goodpaster
Mike Goodpaster
Chief Editor
Josh Schwartz
Josh Schwartz
Editor
Author Icon
Christopher Carlson
Content Writer
Simon Briffa
Simon Briffa
Sports Editor
Mark Lewis
Mark Lewis
Editor
Samuel Teets
Samuel Teets
US Sports Veteran
John Raspanti
John Raspanti
Author
Chris Benedict
Chris Benedict
Editor
Author Icon
Daniel Kornhauser
Author
Author Icon
Malik Zorrok
Author
Author Icon
Buddy Gibbs
Author
Brian Coburn
Brian Coburn
Author
aukje
aukje
Author
Peter Bonahoom
Peter Bonahoom
Author
berina
berina
Author
Find out what the legends have to say about sports this week....

Players must be 21 years of age or older or reach the minimum age for gambling in their respective state and located in jurisdictions where online gambling is legal. Please play responsibly. Bet with your head, not over it. If you or someone you know has a gambling problem, and wants help, call or visit: (a) the Council on Compulsive Gambling of New Jersey at 1-800-Gambler or www.800gambler.org; or (b) Gamblers Anonymous at 855-2-CALL-GA or www.gamblersanonymous.org.

This site is using Cloudflare and adheres to the Google Safe Browsing Program. We adapted Google's Privacy Guidelines to keep your data safe at all times.

21+NCPG
Move to Top
Close
Players accepted in the US US Flag
Stake.us Exclusive Bonus
$25 No Deposit + 250,000 Gold Coins + 5% Rakeback
Promo Code
Copy
Visit Site
T&Cs apply, 18+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Exclusive promo code: TGTSOCIAL
  • Play Plinko, Hilo, Crash and more!
  • Get Stake Cash bonuses every day!
Stake Originals
×
Your Promo Code:
The bonus offer of was already opened in an additional window. If not, you can open it also by clicking the following link:
Visit Site