VA
  • TGT on YouTube
  • About TGT
  • The TGT Team
  • How TGT rates
  • Responsible Gambling Advice
  • Contact Our Team
  • Writers Wanted
  • Content Disclaimer
  • Affiliate Disclosure
Contains commercial content
The Grueling Truth - Where Legends Speak / Finish in Style! How to Bet on Horse Racing 2023 Win With our Horse Racing Betting Guide

Finish in Style! How to Bet on Horse Racing 2023 Win With our Horse Racing Betting Guide

Last Updated on 01/29/2023
Fact checked by: Simon Briffa

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!

SI Sportsbook
1.
BET $20 GET $200 IN FREE BETS
Bonus Code
Copy
SI Sportsbook Bonus Code
Copy
Get Bonus
T&Cs apply, 21+
Bonus Details
Type:
Free Bet
Cashable:
yes
Requirements (WR):
First deposit only | 21+ & located in VA | Promo code as seen| A qualifying bet is $20 or more | Min odds of +120 or more | Free Bet Tokens credited after bet is settled and expire after 7 days | Free Bet stakes not included in winnings | Please Gamble Responsibly – Gambling Problem? VA: CALL 1-888-532-3500 | Full T&C apply
FanDuel
2.
No Sweat First Bet up to $3,000
Bonus Code
Go to FanDuel
FanDuel Bonus Code
Go to FanDuel
Get Bonus
T&Cs apply, 21+
Bonus Details
Type:
Welcome Bonus
Cashable:
yes
Requirements (WR):
Bet365
3.
Bet $1, Get $200
Bonus Code
Go to Bet365
Bet365 Bonus Code
Go to Bet365
Get Bonus
T&Cs apply, 21+
Bonus Details
Type:
Free Bet
Cashable:
no
Requirements (WR):
PointsBet
4.
Bonus Code
PointsBet Bonus Code
Get Bonus
T&Cs apply, 21+
Bonus Details
Type:
Free Bet
Cashable:
no
Requirements (WR):
BetMGM
5.
100% up to
$1000
Bonus Code
Go to BetMGM
BetMGM Bonus Code
Go to BetMGM
Get Bonus
T&Cs apply, 21+
Bonus Details
Type:
Risk-Free Bet
Cashable:
no
Requirements (WR):
1x Bonus

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.

WIN This bet, like its name, requires that your selection finishes as the winner of the race. The track will vary the takeout rate for a Win bet, which includes Place and Show wagers. It is usually between 15-20%. The rest is distributed to the Win ticket holders on the horse that placed first. (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. You would win $1.60 per $1 wagered and get your stake back if the horse wins. 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. 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. 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!

PLACE Place betting requires that your selection finish either first or second. 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. 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.

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

Check out the top sportsbooks for betting on Horse Racing!

SI Sportsbook
97/100
SI Sportsbook Review
BET $20 GET $200 IN FREE BETS
T&Cs apply, 21+
Visit Site
First deposit only | 21+ & located in VA | Promo code as seen| A qualifying bet is $20 or more | Min odds of +120 or more | Free Bet Tokens credited after bet is settled and expire after 7 days | Free Bet stakes not included in winnings | Please Gamble Responsibly – Gambling Problem? VA: CALL 1-888-532-3500 | Full T&C apply
FanDuel
96/100
FanDuel Review
No Sweat First Bet up to $3,000
T&Cs apply, 21+
Visit Site
Bet365
94/100
Bet365 Review
Bet $1, Get $200
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. What have we won? 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

All nonstraight wagers can be referred to as exotic. They are often difficult for newcomers to horse racing to win unless they have amazing beginner’s luck. The EXACTA (picking the first two finishers of a race in exact order) and QUINELLA 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. 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). A $1 Double wheel of horses 1 & 2 in Race 1 would cost $4.

The SHOW PALAY is a popular way to bet on horse racing. This can be done individually or as a group. Let’s say four friends invest $10 each in a Show Parlay. Then they collectively decide which horse to show $40 on. The group will have $80 to spend in the next race’s Show Pool if the horse finishes in top three and pays $4. 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.

Social Casino of the month
Stake.us - Sign up now! Sign up now!
Top Brands
Top Bonuses
Stake.us
Stake.us
Stake.us Review
98/100
Wow Vegas
Wow Vegas
Wow Vegas Review
97/100
Golden Hearts Games
Golden Hearts Games
Golden Hearts Games Review
95/100
Fortune Coins
Fortune Coins
Fortune Coins Review
93/100
SweepSlots
SweepSlots
SweepSlots Review
93/100
Stake.us
Stake.us Bonus
5% Rakeback
T&Cs apply
9.8/10
Wow Vegas
Wow Vegas Bonus
30 SCs on 1st Purchase + 4.5 SCs FREE
T&Cs apply
9.7/10
Golden Hearts Games
Golden Hearts Games Bonus
Join GOLDEN2000 for 2,000 FREE coins
T&Cs apply
9.5/10
Fortune Coins
Fortune Coins Bonus
140k GC + 400 FC
T&Cs apply
9.3/10
SweepSlots
SweepSlots Bonus
1,000 Gold Coins Daily
T&Cs apply
9.3/10
Latest News
Top 10 Hitters of the 1990s
Mike Piazza did not get to play for ...
The 5 Worst Head Coaching Firings in NFL History
Allen was a great innovator, who revolutionized special ...
Betting Tips
Our Latest YouTube Videos
Video: NFL🏈 Prediction Show: Is the NFL Rigged? Conference Championship review
NFL Prediction Show: Is the NFL Rigged? Conference Championship review
Video: AFC 🏈Championship Game Preview: Bengals vs Chiefs
AFC Championship Game Preview: Bengals vs Chiefs
Video: NFC🏈 Championship Game Preview: 49ers vs Eagles
NFC Championship Game Preview: 49ers vs Eagles
Sportsbook of the month
SI Sportsbook - Get your Free Bet now! Get your Free Bet now!
Find out what the legends have to say about sports this week....
Top Online Casinos
Top Casinos Bonuses
Stake.us
Stake.us
Stake.us Review
98/100
Wow Vegas
Wow Vegas
Wow Vegas Review
97/100
Golden Hearts Games
Golden Hearts Games
Golden Hearts Games Review
95/100
Fortune Coins
Fortune Coins
Fortune Coins Review
93/100
SweepSlots
SweepSlots
SweepSlots Review
93/100
Stake.us
Stake.us Bonus
5% Rakeback
T&Cs apply
9.8/10
Wow Vegas
Wow Vegas Bonus
30 SCs on 1st Purchase + 4.5 SCs FREE
T&Cs apply
9.7/10
Golden Hearts Games
Golden Hearts Games Bonus
Join GOLDEN2000 for 2,000 FREE coins
T&Cs apply
9.5/10
Fortune Coins
Fortune Coins Bonus
140k GC + 400 FC
T&Cs apply
9.3/10
SweepSlots
SweepSlots Bonus
1,000 Gold Coins Daily
T&Cs apply
9.3/10
Top Betting Sites
Top Betting Bonuses
SI Sportsbook
SI Sportsbook
SI Sportsbook Review
97/100
FanDuel
FanDuel
FanDuel Review
96/100
Bet365
Bet365
Bet365 Review
94/100
PointsBet
PointsBet
PointsBet Review
94/100
BetMGM
BetMGM
BetMGM Review
93/100
SI Sportsbook
SI Sportsbook Bonus
BET $20 GET $200 IN FREE BETS
T&Cs apply
9.7/10
First deposit only | 21+ & located in VA | Promo code as seen| A qualifying bet is $20 or more | Min odds of +120 or more | Free Bet Tokens credited after bet is settled and expire after 7 days | Free Bet stakes not included in winnings | Please Gamble Responsibly - Gambling Problem? VA: CALL 1-888-532-3500 | Full T&C apply
FanDuel
FanDuel Bonus
No Sweat First Bet up to $3,000
T&Cs apply
9.6/10
Bet365
Bet365 Bonus
Bet $1, Get $200
T&Cs apply
9.4/10
BetMGM
BetMGM Bonus
100% up to $1000
T&Cs apply
9.3/10
DraftKings
DraftKings Bonus
20% up to $1000
T&Cs apply
9.2/10
Our Team
Mike GoodpasterAuthor IconJosh SchwartzSamuel TeetsMark Lewis
+8
Mike Goodpaster
Mike Goodpaster
Chief Editor
Author Icon
Christopher Carlson
Content Writer
Josh Schwartz
Josh Schwartz
Editor
Samuel Teets
Samuel Teets
US Sports Veteran
Mark Lewis
Mark Lewis
Editor
Simon Briffa
Simon Briffa
Sports Editor
Chris Benedict
Chris Benedict
Editor
Author Icon
Malik Zorrok
Author
Author Icon
Daniel Kornhauser
Author
John Raspanti
John Raspanti
Author
Author Icon
Buddy Gibbs
Author
Brian Coburn
Brian Coburn
Author
Peter Bonahoom
Peter Bonahoom
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.

Trading financial products carries a high risk to your capital, especially trading leverage products such as CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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.

sdfgfdgcsdfgfdgcww
Move to Top
Close
Stake.us Exclusive Bonus
5% Rakeback
Promo Code
Copy
Visit Site
T&Cs apply, 21+
Payment Methods
Bitcoin
Litecoin
Ethereum
Dogecoin
Highlights
  • Social casino loved by Drake!
  • Play Plinko, Hilo, Crash and more!
  • Get Stake Cash bonuses every day!
Stake Originals
Dice
Crash
Plinko
Mines
×
Your Bonus 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