Best Horse Racing Betting Sites In The US 2023

Horse Racing is immensely popular amongst US bettors, and being legal in most states, players have a wide range of online sportsbooks where they can place bets. If you are new to the sport, we are here to provide all the necessary information about popular racing betting sites, betting types, and favorable odds; read on and learn how to bet on horse racing in no time!

Top Horse Betting Sites 2023

1 FanDuel Sportsbook
$1,000
  • bullet-iconUser-friendly interface
  • bullet-iconSeamless transition from DFS to sportsbook with one wallet
  • bullet-iconPromos and free plays for existing members
9.5
Read Review
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FanDuel Sportsbook is a very good online sportsbook that seems to have a lot to offer every player. Players have a good range of sports to bet on, and some competitive odds to enjoy using. This is a sportsbook that seems to do what it can to beat the competition. It has a great level of security and some good deposit and cash out options.

2 BetMGM
MOST POPULAR SPORTSBOOK
$1,000 Risk-Free Bet Bonus Offer
  • bullet-iconEasy to use website and app
  • bullet-iconEvery game can be live streamed for free
  • bullet-iconWide variety of sports to bet on
9
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The BetMGM Sportsbook is potentially one of the best sportsbooks around. With a wide variety of sports to choose from and a good New Customer Offer, players are certainly in for a good time. Offering parlays and great odds compared to many other sportsbooks, BetMGM Sportsbook is well worth spending time on.

3 DraftKings Sportsbook
SUPER POPULAR
$50 Free Bet
  • bullet-iconGood range of betting markets
  • bullet-iconExcellent customer support
  • bullet-iconLow minimum deposit
9
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Visit Site

This DraftKings Sportsbook review has been an interesting one to research. This online sportsbook has a lot to offer every player. From a good range of betting markets to some good bonuses and promotions, here is an online sportsbook that seems to offer it all. Players should seriously consider spending time on this exciting sportsbook.

Table of Contents

Top 5 Horse Racing Betting Sites

After carefully reviewing numerous sites, we have gathered the top 5 horse race betting sites for US players. The operators we picked are legal in most US states and fully follow our selection criteria.

TVG

TVG is a specialized online horse betting site that allows players to bet on various competitions. It is top of the list because it focuses only on competitive races and allows every member to place bets on almost all events during the year. It might not have lucrative promos or flashy bonuses as other sites, but if you are an avid bettor, you will be satisfied with the wagering odds.

 

Pros

Cons

Available in most US states

Mobile app only compatible with iOS devices

Tons of Horse racing markets

Not as many promos as its competitors

Live Streaming is available

 

Flawless Navigation

 

TwinSpires

Another popular horse racing hub that accepts US players is TwinSpires. Once you register an account, you can claim various promos, which you can later use to place bets on tons of races. The site also offers help from market experts who will explain and even give tips on how to bet on horse racing.

 

Pros

Cons

Wide range of competitive race bets

No VIP Program

Live Streaming

Transactions fees are high

Mobile apps for both Android and iOS users

 

Withdrawals processed within 24 hours

 

FanDuel

FanDuel platform grew its popularity with Fantasy Sports; however, it also tested the waters of sports betting and quickly became a top competitor in the industry. Today, you will find numerous horse racing markets, which you can access from your desktop or mobile device, and claim some lucrative bonuses.

 

Pros

Cons

Competitive racing odds

Lack of perks for loyal members

Dedicated mobile app

Slow Withdrawal Times

Various lucrative bonuses

 

24/7 Customer support

 

Daily Racing Form

Also known as DRF, this platform doesn’t just give US players the ability to place bets on horses but also provides analysis, statistics, and tips for new and experienced bettors. You can check out wagering strategies available on the day of the competition you want to bet on.

Pros

Cons

Excellent for beginner bettors

Not available in most states

Lucrative welcome bonus

Not consistent with promotions

Daily analytics and statistics

 

Top-notch app experience

 

 

BetAmerica

BetAmerica is a big name in the US sportsbook industry that offers its players a wide range of horse race markets. Every new player who registers has a chance to claim a bonus for their first bet. The platform also has a dedicated mobile app that can be downloaded, so you can wager on the go before and during the races.

Pros

Cons

Best place for casual bettors

Limited amount of betting lines

Providing services for more than 20 years

Long withdrawal times

Tons of payment methods

 

Welcome Bonus of 100% Matching Free Bet up to $50

 

Legal Aspect of Horse Race Betting

In more than 40 US states, you are allowed to place bets on horse races. Depending on your state, you can place bets on the track, online, or are land-based wagering venues. New Jersey, Michigan, and Pennsylvania are a few US states allowing residents to place bets both on the tracks and online.
Keep in mind that not every state will have the same legal betting age, with some allowing players to be 18 and above while others need their players to be 21+.

 

Legal Age

18 or 21+

Popular Domestic Events

Kentucky Derby, Belmont Stakes, Preakness Stakes, Breeders’ Cup, Travers Stakes

Popular International Events

Prix de l’Arc de Triomphe, The Royal Ascot, Nakayama Grand Jump, Melbourne Cup, Dubai World Cup, The Everest

Top US Sportsbooks

BetAmerica, FanDuel, TVG, DRF, TwinSpires

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Note

Before starting the registration process at any sportsbook site, check out the terms and conditions. You will be fully prepped and know which rules, regulations, and requirements to follow when wagering.

Online vs Brick and Mortar Horse Racing

Before the Internet was available, bettors needed to go to their local bookmakers or directly to the tracks to place a bet. However, online betting makes everything easier today because you can wager on any event held anywhere in the world with only a few clicks.
Each type has pros and cons; for example, you can make it a fun experience by placing bets on the track and watching the event in person.
Most of the time, these competitions are major events, and you can have a fun day out. On the flip side, not every track or brick-and-mortar sportsbook will offer betting opportunities for numerous events.
This is where placing a bet at an online oddsmaker shines since you might live in Michigan, for example, but you can place a bet on some competition held in the UK. Most top sports wagering sites will have numerous steed racing markets available, and with only a few clicks on your desktop or mobile device, your bet will be counted.

 

Features

Online betting

Land-based betting

Convenience

Bonus deals

Odds coverage

Safety & Security

Socialization

On-the-spot payouts

Types Of Bets

While there are multiple features you need to consider when looking for a sportsbook, the available betting markets should be high on your list. A platform with a plethora of betting markets will give you more wagering opportunities and events to choose from. While every operator will have your basic types, it is always fun to come across betting markets with a unique twist.

Types of Horse Race Bets

Description

Win

Correctly predicting the winning rider

Place

Wagering on a rider to win or finish 2nd

Show

Wagering on a rider to place either 1st, 2nd or 3rd

Daily Double

Choose a winner from two different fixtures

Pick 3, 4, 5, 6

Identifying a winner of 3, 4, 5, or 6 consecutive fixtures

Straight Exacta

Placing a bet on who will finish first and second

Straight Trifecta

Correctly choosing the first three positions

Straight Superfecta

Correctly choosing the first four positions

Quinella

Selecting two riders for 1st and 2nd place, in any order

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Expert Tip

If you are unfamiliar with all the betting types, start slow and simply try to bet on the winning horse. These are the most common and most used wagers among beginners.

Main Events In The US

There are hundreds of fixtures you can bet on during the year; however, only a few major races take place in the US. These big competitions are treated like exclusive events, and thousands of people attend them each year. Some of the top-tier events include:

The Kentucky Derby

The Kentucky Derby is undoubtedly the most popular and well-known race today. Each year, in early May, in Louisville, Kentucky, on the Churchill Downs track, this one-and-a-quarter-mile rally takes place for three-year-old Thoroughbreds. With a tradition of almost 150 years, the Kentucky Derby might not have the biggest purse, but in pop culture, it is also dubbed the best two minutes in sports.
Each year, days before the event takes place, every online and brick-and-mortar sportsbook displays its Kentucky Derby odds. Fans from all over the world come to Louisville to witness the event and enjoy the two-week festival before the competition.

Preakness Stakes

The Preakness Stakes is also a well-known event in the US that takes place two weeks after the Kentucky Derby. Each year, right at the end of May, the event occurs at Pimlico Race Course in Baltimore, Maryland. This is the second stage of the Triple Crown and the second most popular fixture among the three. Like the Kentucky Derby, Preakness Stakes hosts 3-year-old thoroughbreds, a Grade 1 race, 9.5 furlongs or 1900 meters long.
While the hype may not be as big as for the Kentucky Derby, you will still find odds for the event on every bookmaker and online sportsbook.

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Expert Tip

It is wise to have various accounts on different sportsbook websites. This way, you can choose the one with the better odds and even claim multiple bonuses.

Belmont Stakes

Known as the Third Jewel of the Triple Crown, Belmont Stakes is the final race of the Triple Crown series, which is held in early June at Belmont Park in Elmont, New York. This is a Grade 1 Race for three-year-old Thoroughbreds like the previous two.
Because of the way the race track is laid out and being the longest out of the three in the Triple Crown, with wide turns and long stretches, every rider has a chance to win. This is where the underdogs can come in clutch for those bold enough to wager some money on them.

Horse Racing Winning Rates

You might have a slight idea of which wager will be the easiest to win by simply checking out the types of bets. If you guessed the show, you are correct because you only need to pick a rider that will finish in the top 3.
On the other hand, the pick six wager is the most difficult but the most rewarding. You will need to pick the correct winner from 6 consecutive competitions. While it is harder to predict, the payout for this one is massive.
Here is a table with some of the statistics conducted over the years regarding the winnings rates of horses, favorites, jockeys, and so on.

 

Horse Racing Situation

Winning Chances/Rate

Experienced trainers 

20%

Beginner trainers

8%

Top 20 trainers to finish 1st, 2nd, or 3rd 

52,7%

Successful trainer

Over 60%

Guessing the winner of a 12-horse race

8,3%

Guessing the winner of a 5-horse race

20%

Horse Racing Odds

Odds displayed in sportsbooks are easy to read and will be presented similarly for any sport, including horse racing. In the US, the fractional format is used to show the odds, like 20/1 or 20-1.

The first number represents how much you could win, while the second tells you the amount you bet. So in our example, for every $1 you wager, you can win $20.

Difference Between Fixed Odds And Pari-Mutuel Odds

With fixed odds, you are essentially wagering against the bookmaker and the odds they gave for a particular outcome. What other bettors have wagered and what type of bet they played has nothing to do with your wager.

Players bet on fixed odds when they place a bet on a betting price in which case the operator offers odds specifically for a final outcome of a race or event. For instance, if a horse wins with a rate of 15/1, bettor will get 15 times their stake plus the money they used for the bet.

On the other hand, pari-mutuel betting is wagering and playing against other bettors in the same event. The odds and payout is determined by what others have wagered. An easy example would be to imagine you place a bet on a steed named ‘Thunder’ to win the race, and one-third of the bettors are also wagering on it. The payout for that bet would be 2-1. This payout for the bet will change if more bettors start placing money on Thunder, thus modifying the odds.

Think of pari-mutual bets as the stock market as each, let’s say, $2 bet acts as if you were buying a share. In this situation the race track acts as the broker and the commission is fixed by the state.

Horse Racing Taxes In The Country

When it comes to taxes, all winnings should be reported to the IRS. On your tax return, the horse betting winnings should be listed in the other income section.

While winnings should be reported, it doesn’t mean they will be taxed. If you record winnings above $600, you will be taxed on them. The tax amount will vary depending on how much you win. If you bag more than $5000, a 24% tax will be demanded at the federal level.

The tax percentage can vary regarding sportsbooks, both online and physical hubs, depending on where they operate. New Jersey-based operators have some of the lowest tax rates with 3%, and Michigan comes in close with 8.4%, while Pennsylvania has a whopping tax rate of 34%.

 

Amount

Tax Rate

$600

The amount has to be reported

$5000

24% tax rate

Basic Terms Table

As you gradually come into the sport, you will see some terms that can be confusing. To get more familiar with it, we have gathered some more essential terms you will have to learn.

Terms

Description

Abandoned

A term used when a race is canceled, or when a racecourse is closed

All-weather

A type of racing surface, which doesn’t get affected by the weather

Backward

A term for a steed that is not fit for a race

Boxed-in

When steeds are close together and can’t get a clear run

Colt

A male steed not older than 4 years

Dam

A mother of a steed

Filly

A female steed not older than 4 years

Hacked Up

A phrase used when a participant has won easily

Nap

A bet considered to be the most likely winner

Nose

The smallest margin of victory

Outsider

The underdog in the race

Photo Finish

A close race finish

Punter

A person placing a bet

Turn of Foot

A term used to describe acceleration during a race

Visor

Type of headgear

How We Rank The Sites?

We at Profitsquad are always looking at and testing various sportsbooks that have the potential to entertain and satisfy both novice and experienced bettors. Once we have a site in our sights, our team tends to split into smaller groups to cover more ground.

Security And Navigation

First and foremost, the site has to be legit and secure. We always start by looking for a valid license, allowing the platform to operate. Navigation is another thing that needs to be solid because once players get in, they want to get down to business without spending too much time browsing through the sections. Intuitive designs and great menu placement result in flawless navigation.

Odds And Promos

One group immediately starts checking the odds provided by the bookmaker. We rack them up and compare them to the ones other contenders offer. This way, we can see whether they are up to par, better or worse. Bonuses are also a huge factor since they can make or break your experience on the platform.

Payment Methods

While the odds and bonuses are being checked, another group goes through the cashier section, testing out all the deposit and withdrawal methods. The main thing they are testing is the time it takes to make a deposit or a withdrawal and whether the limits that are placed on each transaction are up to industry standards.

App Availability

Finally, we check for an available mobile app that can be downloaded. The top-tier sportsbooks will have a dedicated mobile app compatible with Android and iOS devices, allowing players to log in and place bets on the go.

Comparing Top Horse Racing Sportsbooks

 

Sportsbook

Live Streaming

Fast Withdrawals

Horse Racing Promos

Mobile App

TVG

TwinSpires

FanDuel

DRF

BetAmerica

Conclusion

Horse Racing has been popular for centuries, and it looks like it will continue to be so for the foreseeable future. With more and more sportsbook sites coming to the states, bettors get various opportunities to claim bonuses and place bets. Always ensure you are at a legit site before betting with your money on your favorite horse.

FAQs

There are several top-tier sites in the US, including TVG, FanDuel, BetAmerica, and more.

Most sites will have a welcome bonus ready to be claimed with your first deposit.

If you are a beginner and want to try betting on different races, the most common bet you can place is a single bet.

Out of the hundreds being held each year, the Kentucky Derby is the most popular.