How to Bet on Horse Racing: Best Horse Racing Betting Guide
Betting on horse racing might seem complex at first, but this guide to betting on horse racing will show you how easy it is to make race wagers with confidence.
From simple bets like Win, Place, and Show to more advanced options like Exacta and Trifecta bets, our horse racing betting guide covers everything beginners need to know. You’ll learn how to read odds, place bets online, follow expert tips, and make smarter picks for every race.
It doesn’t matter whether you’re betting on the Kentucky Derby or your local track; these tips are applicable for every race. Saddle up and jump into the action!
A Beginner’s Guide to Horse Racing Betting
Getting started with horse racing betting is easier than you might think. Whether you’re in it for the excitement or aiming to profit, learning the basics is the first step toward placing smarter bets. In this guide, we’ll show you exactly how to make your first wager on the ponies, and what to do next to keep improving.
1. Learn the Language
Understanding odds, betting terms, and how to evaluate horses, jockeys, and trainers sets you up for smarter decisions right from the start. Mastering the basics builds your confidence and lays the groundwork for long-term success.
2. Learn the Angles: How to Make Smarter Bets in Horse Racing
Understanding odds, betting terms, and how to evaluate horses, jockeys, and trainers sets you up for smarter decisions right from the start. Mastering the basics builds your confidence and lays the groundwork for long-term success.
To effectively bet on horses, beginners can gain an edge by learning some key betting angles that relate to form and performance:
- Trainer and Jockey Form – Top trainers and jockeys consistently ride the best horses. Track their performance across different race types and distances.
- Horse Odds – Around 85% of race winners come from the top four favorites. Favorites tend to reflect actual race strength, especially in smaller fields.
- Gate Position – On many North American tracks, inside post positions offer better tactical advantages, especially on turns.
- Speed Figures – These numbers show how fast a horse has run in similar conditions. They are key indicators of overall ability.
- Pedigree – For young or debuting horses, a strong bloodline often indicates distance preferences and performance potential.
3. Listen to the Pros
Before you place a bet, it helps to learn from experts. Our guide shares insights from experienced bettors who explain race stats, trends, and how to read the race card. Their advice can help you find good bets and avoid common mistakes—so you feel more confident right from the start.
4. How to bet on Horse Racing Online?
We recommend that new bettors begin with simple wagers like Win, Place, and Show. These are easy to understand and have favorable odds while you get used to them. Once you are more comfortable with the sport, try more complex bet types like Exacta, Trifecta, or Superfecta. With these, you have to select several finishers in sequence and can reward you with higher payouts.
Begin with choosing a reputable online betting website, create an account, fund it, and familiarize yourself with different forms of bets. Betting on horses is easy and enjoyable once you know how! Here’s what to do:
1. Choose a Trusted Horse Racing Platform – Find a reliable betting site that offers horse racing markets, competitive odds, and easy-to-use features.
2. Sign Up for an Account – Register by entering your basic details—such as name, email, address, date of birth, and a valid ID to confirm your age and identity.
3. Deposit Funds Securely – Add money to your account using a safe and convenient payment method like a debit card, e-wallet, or bank transfer.
4. Browse Races and Pick a Horse – Look through the upcoming race schedule, compare the odds, and choose the horse you believe has the best chance to win or place.
5. Select Your Bet Type – Start with simple options like Win, Place, or Show bets. When you’re ready, try more advanced bets like Exacta or Trifecta for higher payouts.
6. Add Your Bet to the Slip and Confirm – Click on your selection, enter your wager amount, and confirm the bet. Your slip will track your bets in real time.
Placing Your First Bet: What to Expect
Once your account is set up and funded, placing a bet is quick and easy. Most online horse racing platforms are designed to guide you through each step, even if it’s your first time.
Here’s what you’ll typically find:
- Full Race Schedule – View all upcoming races in one place—organized by time, track, and location.
- Horse Listings with Live Odds – See every horse in the race along with real-time odds, so you can compare favorites, underdogs, and value picks.
- Easy Bet Selection Tools – Click to select your horse, choose your bet type (Win, Place, Show, etc.), enter your wager amount, and confirm.
These tools make the process smooth—even for beginners. And remember, you can always start with smaller bets while you learn. With just a few clicks, you’re in the game—and your pick could turn into your first win.
EXPERT RECOMMENDATION:
Start with small Place or Show bets when learning how to bet on horse racing. These bets are easier to understand, and help you gain experience before trying more advanced options. Learning the basics first builds confidence and makes betting more fun.
What Are the Different Types of Horse Racing Bets?
The main types of horse racing bets are Win, Place, Show, Exacta, Trifecta, and Superfecta—each with different payout structures and levels of risk. Here’s a quick overview:
Win
The win bet is a classic wager where you choose a single horse to be the victor in the race.
Place
In the US, a place bet allows you to back a horse to finish in first or second place. This broadens your chances of winning compared to a win bet, which requires picking the exact victor.
Show
A show bet lets you choose a horse to finish anywhere in the top three positions. This widens your chances of winning compared to win and place bets.
Exotic Bet
A horse racing exotic bet allows you to make predictions about multiple horses and their finishing positions. Beyond the standard win, place, and show bets, advanced bets are similar to parlays in sports betting. Combine selections from different races, or focus on a single race with multiple horse picks.
Exacta
Exacta bets require you to predict the first two horses to cross the finish line, and in exactly the right order. They are ideal bets for those who want to increase their potential profits.
Trifecta
Trifecta bets require bettors to select which horses they think will finish first, second, and third in the exact order. They are notoriously difficult to master but come with enormous odds.
Superfecta
A superfecta is like a trifecta, but it requires predicting the first four finishers of the race in the correct sequence. Superfectas carry very, very big odds. Even with smaller wagers, you can win a lot of money.
Quinella
Beginners who don’t want to make their bets too complicated often thrive when placing quinella bets. Here, you choose just two horses you think will finish first or second, in any order.
Pari-Mutuel Betting
Pari-mutuel betting is when all wagers placed on a particular race are put together into a single pool of money. Dividends are calculated based on the number of people who bet on the successful horse, and the size of each individual bet. Pari-mutuels are popular across the U.S.
Master the Track: Horse Betting Advanced Tactics
Once you know how to place a bet, the next step is learning how identify wagers with the most value — bets which balance risk vs reward perfectly. Our horse racing tips and strategies can help, whether you’re new to horse race betting or already a seasoned pro.
These tactics go beyond the basics. You’ll learn how to manage your bankroll, pick the right bet types for your goals, and evaluate races more effectively. We break down key concepts like:
Our expert tactics can help you learn the basics and make smarter picks. When you’re ready, explore our top horse racing sportsbooks to find a trusted place to bet online. Our top pick for beginners is Bovada, a longtime favorite racebook for online horse racing fans.
Best Horse Race Betting Site For Beginners
Bovada Top Site For Horse Race Betting
Bovada is the best horse race betting site for beginners, thanks to a user-friendly interface and a thorough racebook. It’s easy to quickly pull up straight and advanced bets, see their list of upcoming races, and bet live. You can also access exciting futures bets such as the Kentucky Derby winner (or which horse will finish last), or horse racing specials, such as the Triple Crown winner.
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Is Online Horse Betting Legal in My State?
Since online horse racing betting legality varies by state, it’s important to check your local regulations and ensure you’re using a licensed platform to wager. For more info, you can consult The Sports Geek’s list of the best sportsbooks for each state, and select a reliable offshore platform to wager with.
How to Bet on Live Horse Racing
Live wagers are made on race day, with the latest jockey/horse lineups. Odds constantly shift based on bets. Spot a potential underdog or value bet with up-to-the-minute insights. Here’s what to look for when betting on live horse racing:
Choose How You Bet
Most top live betting sites allow you to choose between wagering on fixed odds or on an exchange.
- Fixed odds bets are a direct wager with the racebook.
- Exchanges allow you to wager against other bettors.
Exchange odds can vary far more than fixed odds, but sometimes it’s harder to lock in a deal. A fixed odds site is more appropriate for beginners.
Understand The Odds
Understanding the basics of horse racing odds is essential for successful betting. A horse with odds of -300 might be the frontrunner, suggesting a high likelihood of winning. However, betting on a favorite will result in a smaller return on your investment and, unexpected outcomes, such as underdog victories, can happen.
Check out our betting odds guide for more insight into navigating betting odds and making informed betting decisions.
Check Out What Experts Think
Racing experts should be your first line of research when betting on horses. They often know about prospective Kentucky Derby, Pegasus, and Belmont winners long before the races take place. We recommend following them on social platforms during live races to get their minute-by-minute take on the race.
Choose Your Horse
Consider factors like horse form, track conditions, expert practices, and jockey/trainer connections. Look for horses with good results on the track, suited to the conditions, and offering competitive odds.
A Brief History Of Horse Race Betting
Horse racing has a rich history, dating back to the 1650s. It gained significant traction in Britain and Ireland with the rise of thoroughbred horses. By the 20th century, the sport had galloped across the globe, captivating audiences worldwide. Horse racing is now a multi-billion dollar business that attracts hundreds of millions of bettors each year. Here’s a quick history of the sport:
The Latest Horse Racing News
Horse Racing
Kentucky Oaks 2025 Odds and Betting Predictions
Responsible Gambling
We encourage you to gamble responsibly and consider online betting as a form of entertainment, not a source of income. Set loss limits and time limits, and don’t bet more than you’re comfortable losing.
Here are some resources to help you, or someone you care about, gamble responsibly and get help:
Horse Racing Betting Guide Recap
Horse racing betting online can be both fun and profitable. If you’re new to the sport, we recommend starting with simpler ‘win, place, show’ bets before moving on to more intricate trifectas.
Bovada is our top sportsbooks for beginners with its easy-to-use interface and dedicated horse betting racebook. Now that you know how to bet on horses online, try a few small wagers to ease into the races.
Betting on live horse races can be thrilling, and we’ve given you all the expert horse racing insights you need to make the most of your wagers. Good luck! We’re rooting for you!
Horse Racing Betting FAQs
In North American horse racing, the most common bets are Win, Place, and Show. A ‘Win’ — also known as a “straight” bet — means you’re backing a horse to finish first. With a ‘Place’ bet, your horse needs to finish first or second to win. ‘Show’ wagers follow this pattern, with a 1st, 2nd, or 3rd placement winning your bet. These bet types are simple, popular, and perfect for beginners looking to build confidence.
If you’re new to horse racing betting, begin with basic bet types like Win, Place, or Show. These bets are easier to understand and offer better odds of winning than advanced options like Exacta, Trifecta, or Superfecta. Before placing a bet, take a moment to review the horse’s past performance. Focus on how it has done in similar race conditions and on the same track. This gives you valuable insight and helps you make more informed betting decisions.
To improve your chances of winning, use a mix of ‘Win’ and Each-Way bets. Since horse racing is unpredictable, it’s unlikely every horse you back will finish first—but many have a good shot at placing in the top two or three. Spreading your bets increases your chances of a return, even if your pick doesn’t win outright.
If you’re looking for consistent, low-risk returns, a Show bet on the favorite is a smart choice. It’s one of the safest wagers and hits often—but the payout is small. Want bigger profits? Consider exotic bets like the Exacta (pick the top two finishers in order), Trifecta (top three in order), or Superfecta (top four in order). These bets are harder to win but offer much higher payouts.
