The horse racing craze is growing every moment, and more and more people are getting lucky because of the huge market. This ultimate guide will offer you a path to bet on horse racing smartly. How horse betting works, top sites, theirs offers and more.
Introduction
Brief history and popularity of horse race betting
Modern horse betting started in Great Britain in the early 1600s during the reign of King James I. Gamblers can stake money on the final placement of the horses taking part in a race. Gambling on horses is, however, prohibited at some racetracks.
The landscape of horse betting has been revolutionized to the point that the majority of us place our bets online. Furthermore, you have the inception of cryptocurrencies; thus, the currencies we use for betting have vastly multiplied .Enthusiasts of the sport have more than one good reason to look forward to further improvements in the world of horse racing sports betting
The global horse betting market was valued at $44.3 billion in 2022, and is projected to reach $91.2 billion by 2032, growing at a CAGR of 7.6% from 2023 to 2032
Horse Race Betting Explained
How does horse race betting work?
A bet to win, sometimes called a “straight” bet, means staking money on the horse, and if it comes in first place, the bet is a winner. In a place bet, you are betting on your horse to finish either first or second. A bet to show wins if the horse finishes first, second or third.
Overview of win/place/show bets
This is the simplest way to bet on horse races. Pick a horse and bet on him to win (finish first), place (finish second) or show (finish third). This is a $2 base bet, and you can certainly bet more if you’d like.
Introduction to exotic bets
Exotic horse racing wagers are not the standard win, place, or show bets. They usually require picking the winners of two or more races or sometimes picking multiple horses in a single race. Exotics are generally considered riskier than straight bets, but they also offer the potential for much higher payouts.
Common Horse Race Betting Terms
- Odds
Odds also show the probability of who will win. There is a formula to calculate this, but in general: Smaller or even numbers indicate that a horse is likely to win (3/1, 2/1, 1/1). Which in turn means larger numbers indicate a horse is less likely to win (10/1, 17/2, 33/1).
- Furlong
A furlong is 1/8 of a mile, or 220 yards. Short-distance horse races are usually measured in furlongs, while long-distance horse races are typically measured in miles.
- Tote board
A large display often found in the infield or prominently visible at the track that shows real-time betting information and odds for each horse in a race.
- Dead heat
Dead Heat Rules. A dead heat occurs when two or more runners finish a race in an exact tie for a placing.
- Payout
Payoff odds in horse racing are calculated by sharing the remaining pool (after takeout) among all placed bets.
Best Horse Race Betting Sites in 2025
TwinSpires
As a leading provider of legal online horse betting sites in the United States, TwinSpires offers advance-deposit wagering for horse racing, as well as live track video signals and much more.
Welcome bonus: Sign up for TwinSpires and get your first single-horse win bet risk-free up to $25!
TVG
Accompanying our television network, the TVG brand also operates the market-leading online betting platform, offering horse pari-mutuel wagering, which is legally available to customers in over 30 states.
Welcome bonus
Simply create a new account using the promo code 200TVG, and you can snag a bonus worth up to $200.
BetAmerica
BetAmerica is a horse racing platform offering a world-class, full-spectrum betting experience available online and from our mobile app. BetAmerica offers more than 5,000 races per week, around-the-clock
Welcome bonus
New users will receive up to $100 in bet credits based on initial wagers within 30 days of an initial deposit
FanDuel Racing
Horse race betting through FanDuel Racing (formerly TVG). It offers a dedicated space for online horse race betting and caters to both beginners and experienced bettors.
Welcome bonus
FanDuel offers new customers the ability to deposit as little as $5, and then make a first bet of at least $5. New users will receive $200 in bonus bets if their first bet wins
Final Tip for Betting Smarter
Bet to Win
The win bet should be the key bet, especially for newcomers. Takeout (the amount of money that goes to the track that is not returned to bettors) for win, place, and show bets is less than most exotic bets. Most importantly, don’t bet two or more horses to win in the same race
Research Horses and Jockeys
Look at a horse’s past performance track conditions, finish times, and even the jockey’s record. Numbers don’t lie, but skies can be cloudy on race day, so be prepared for surprises!” Statistics can reveal major insights.
Final Thoughts
The blog answers every question for a newcomer. And it tells you why it’s important to know how horse race betting works and why it’s crucial to understand win/place/show bets and exotic bets. Start with the mentioned top-rated sites for a great beginning experience. Always use the given tips to avoid losses. Play responsibly and safely, which will benefit your betting journey in the long term.
Courtesy: https://www.covers.com/, https://www.globenewswire.com, https://www.oddsshark.com
