Horse Racing Betting

Comparing racebook apps - finding the top options

Like sportsbooks, each racebook offers different strengths and weaknesses for bettors to sift through. We always recommend creating multiple racebook accounts for multiple reasons, the biggest being the ability to price shop for different races to always ensure the best price possible.

Multiple brand-name sportsbooks offer racebooks, including FanDuel, DraftKings, BetMGM, and Caesars. Aside from them, various racebooks do not have a brother in the sportsbook world, like TwinSpires. Some of the best ways to sort through these apps to find the right one include which ones offer the best lines, promos, payout times, streaming options, and overall quality. What a customer is looking for may vary based on how long they have been betting, but no matter how experienced, the quality of the lines always matters.

With an app like FanDuel Racing, new customers will receive a strong welcome bonus to get them starting, but outside of that, they are also getting a comprehensive product that offers an impressive number of races, along with customizable settings. Now, with Twinspires, customers are also getting solid promotions, but new bettors can also find a lot of helpful betting information to guide them, while experienced bettors can find a great range of betting markets.

Betting on horse races - how to do it?

Betting on horse racing can be as simple or complicated as you want to make it. There are plenty of betting markets for each race, which makes the possibilities endless. One of the first markets you’ll see is “Win-Place-Show,” meaning you can bet a horse to win, place (finish second), or show (finish third). Within this marker, a bettor can also wager on “Across the Board,” which means that as long as the horse they bet on finishes third or higher, they have won their bet.

Now, if a bettor wants to get more specific, they can head to the exacta, trifecta, superfecta, and box market for each of those bet types. An exacta means a bettor is wagering on two horses to finish in first and second exactly; a trifecta offers a big payout, but it means a bettor is wagering on three horses to finish exactly in first, second, and third. A superfecta may be the most challenging bet to hit in all of horse racing, as a bettor is placing a bet on four horses to finish exactly in first, second, third, and fourth.

Within each of the aforementioned markets, bettors can opt for the box market, which means the order does not matter as long as the horses in the bet finish in positions. Some betting markets can even include multiple races, and these markets are called the “Pick three, four, or five.”

These markets require the bettor to select the winner of multiple races in a row, depending on which number they pick (three, four, or five). The nice part about this market is that bettors can select multiple horses to win for each race, and while that may bring up the amount a bettor has to stake, it also provides them some coverage. This market is a 50-cent base, while the other markers mentioned are a $2 base, but of course, if a bettor wants to wager more, they can.

Legality of horse race wagering in the US

Much like sports betting, horse race betting has taken some time to expand into different states. As of 2024, there are currently 40 states with a legal pari-mutuel horse betting system. Kentucky was the first state to offer pari-mutuel horse betting, legalizing it in 1906.

The majority of the 40 states with pari-mutuel horse racing have racetracks within the state where customers can place wagers. The states that do not have racetracks offer OTB simulcasts, which are physical betting facilities that allow customers to watch and bet on races taking place in other states. As far as mobile horse racing goes, 37 states allow mobile racebooks to operate legally.

Some states across the US do offer legal OTB and pari-mutuel wagering, but it is heavily restricted and may be limited to just in-state races, which takes away the chance to bet on Triple Crown events. Other states like Georgia and South Carolina, with no legal horse racing of any kind, have consistently tried to pass a bill that would legalize horse race betting. Still, many states that are adamantly against sports betting and gambling will not give into horse race betting, despite states with legal horse race betting reporting a positive economic impact.

Top horse race events in the US

Horse racing naturally sees a lot of wagers from online betting apps, but the top horse racing events tend to see substantial in-person attendance. Out of all events, the triple crown events tend to draw huge crowds each and every year. These triple crown races include the Kentucky Derby, Belmont Stakes, and Preakness Stakes.

On average, the Kentucky Derby usually has over $150,000 in attendance, and in the race's history, the largest attendance was 170,513 horse racing fanatics. As for the Preakness, the average attendance is a little over 130,000, but in 2017, the attendance record was set with 140,237 people. Lastly, the Belmont Stakes is held at a smaller course, so while the attendance average is under 100,000, the attendance record for the race is 120,139.

Of course, the Triple Crown races aren’t the only horse racing events that draw a noteworthy crowd. For example, the Breeders Cup usually sees over 50,000 attendees on the first day and over 30,000 attendees on the second day. The second-day attendance record was set in 2016 when 45,673 people stood around and placed their bets on the final day of the event.

Kentucky Derby

When asked to pick the first thing that comes to mind in relation to horse racing, a large majority of people will respond with “Kentucky Derby.” Held every year except two since 1875 at the legendary Churchill Downs, the Kentucky Derby has become known for interesting fashion choices and people coming together to pull for the horse they bet on.

This race is also known as the “Run for the Roses,” as the winning horse gets a blanket of roses put over them after the race. In order to qualify for this historic race, horses must garner points through prep races, and the horses with the 20 most points from those races get the chance to chase to participate in the most exciting two minutes in sports.

The Belmont Stakes

There are a few reasons the Belmont Stakes is one of the biggest races in the sport. Not only is this race held in New York at Belmont Park, but it has been in existence since 1867. Aside from the rich history and location, the Belmont Stakes is also the final leg of the Triple Crown, which means if a horse wants to secure the Triple Crown, they must do it in New York.

Some of the most famous horses in the sport have raced on the 1 ½ mile-long track, including the race record holder and Triple Crown champion Secretariat, who finished in 2:24 back in 1973. All horses in the race are three-year-old Thoroughbreds, and horses who finish in the top three at either the Kentucky Derby or Preakness Stakes are given automatic spots in the race, while all other horses must be Triple Crown nominated.

Preakness Stakes

Every year on Armed Forces Day, horses that finish inside the top five at the Kentucky Derby or are ranked among the top in lifetime earnings and graded stakes compete in the Preakness Stakes. This race is the second jewel of the Triple Crown, as it is held two weeks after the Kentucky Derby at Pimlico Race Course in Baltimore, Maryland.

Much like the Belmont Stakes, the speed record for this race is held by Secretariat, while the record for largest margin of victory belongs to Smarty Jones, who won by 11 ½ lengths. Since it is such a legendary race, the best horse trainers in the world have had their horses compete, but none have been more successful than Bob Baffert, who has eight wins as a trainer.

The Travers Stakes

Not only is Saratoga Race Course in Saratoga, New York, one of the most iconic venues in the sport, but it is also the home to the Travers Stakes, which is held every summer. The first Travers Stakes was inaugurated in 1864, and it has since earned the nickname of the "Midsummer Derby."

While this race is not involved in the Triple Crown, it is considered the third best race for three-year-old Thoroughbreds of any sex. The winner of this race receives two things in the winners' circle: the Man o’War Cup and a blanket of carnations.

The Breeders’ Cup

Most horse racing events last only one day, but the Breeders Cup is a horse betting fans' dream, as it is a two-day event with Grade 1 Thoroughbred horse races. Breeders’ Cup Limited, which was founded in 198 but did not start putting on this event until 198, puts it on each year4.

Until 2006, this event was a single-day event, but each year since 2007, it has lasted two days. The location for this event changes each year, and the distance, qualification, weight limit, and purse vary by race. In total, there are typically 14 races at each event, and they are held either on turf or dirt. The biggest of these races is the Breeders’ Cup Classic, as this race has the biggest purse each year. In the history of the Breeders Cup, a horse named Zenyatta has produced the most earnings, winning over $4.6 million.

Other major horse races around the world

While the horse races mentioned above certainly are a big deal in the sport, there are plenty of other notable events/races held each year that are certainly of note to bettors. These races include the Royal Ascot, Cheltenham Festival, Melbourne Cup, Dubai World Cup, Grand National, Pegasus World Cup Invitational, and more.

The Pegasus World Cup Invitational is actually considered by most to offer “the most lucrative Thoroughbred horse races.” The most notable race at that event features 12 horses, each of which got into the race with a $1 million buy-in. This event also rings in a new year of horse racing since it is held in January at Gulfstream Park.

Other top horse racing events can also be found around the world. For example, the Grand National, Melbourne Cup, and Dubai World Cup typically see a ton of betting action despite taking place internationally. The Grand National is held each year at Aintree Racecourse in England and is a steeplechase race on a four-mile and 514 yard course. In order to qualify for the Grand National, the horse must be at least seven years old, rated 125 or more by BHA, and previously placed in a recognized chase of 2 miles 7 ½ furlongs.