Betting on horses has a long history, dating back to ancient Rome. Watching and betting on the world's best thoroughbred races has never ceased to fascinate. Betting sites dedicated to horse racing offer some of the best odds around and allow fans to wager on this time-honored pastime year-round. Even if you don't live near a racetrack, you can still enjoy the ponies and try to bring home some cash from back home in Canada. Here's how to do it legally and safely.
Our guide covers the basics of how to bet on horse racing. But we don't stop there. We also offer some ocean-deep tips that can help you decide which horse to back in upcoming races in Canada. Even though people have been betting on horse races since the dawn of time, it still pays to keep your ear to the ground and your eye to the sky for the latest happenings and trends in this ancient sport.
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Horse Racing Betting Guide
How Horse Racing Betting Online Works
Betting on horses online is something anyone can do. It's not much different than betting on horses in person. You just have to know what the betting options mean and pick the best horse racing odds you can find. Often this requires some serious thought and consideration. That's what this site is all about! We've put together a handy little Canadian horse racing tutorial that will serve you well throughout your betting life. Here are some of the most common types of horse racing betting in Canada.
Types of Horse Racing Bets
The best horse racing betting sites in Canada present the best betting markets for horse racing enthusiasts. And since all of us who bet want to be able to sit back and enjoy the spectacle of horse racing while making some money, we need to have a solid, not to mention enjoyable, working knowledge of what we're doing. There are some basic horse bets that you'll want to start with and then move on to some more advanced horse betting options.
Straight Line Horse Racing Bets
If you are new to horse racing, the best place to start is with straight bets. Unlike other types of bets, straight bets do not require you to understand the intricate details of horse racing or possess any special skills. They are also very economical. Here are some examples of basic straight bets:
- Bet to Win - players bet on the horse they think will win the race and finish first.
- Wagering on Placement - as the name suggests, you are predicting the finishing position of your chosen horse.
- In show betting, Canadian bettors place their bets on a horse to finish in the top three positions in a race. When betting on a horse in the Show Bet, you are betting on your chosen horse to finish either first, second or third. If it finishes in the top three, you win.
- A win, place and show bet - this bet covers all the bases and is suitable for those who want to pick a horse that has a decent chance of not only winning, but finishing in the top three. In order from best to worst, this phrase describes the positions in which the horse could finish if you were to win the bet. "Show" is the term used in horse racing parlance in the United States, which is equivalent to the term "place" in racing parlance outside the United States.
Once you have established a solid winning streak, you can move on to more complex bets with much higher odds. These pay off quite handsomely.
Exotic Horse Race Bets
Instead of using the basic bets (such as win or place), some bettors at racetracks or online bookmakers place what are known as "exotic" bets. These are much more complicated and involve a vastly increased number of possible outcomes to choose from. As complicated as they are, exotic bets are worth it because they offer big payoffs. Here are some types of exotic bets that you might place on a single race:
- Exacta - In this bet, the punter predicts two horses to finish first and second. You only win if the horses finish in the exact position predicted.
- Quinella - unlike the exacta, quinella bets are predictions on two horses to finish first or second in any order.
- Superfecta - similar to the trifecta, but the difference is that you pick four horses instead of three. You also win in the order in which you placed your bet.
- Trifecta - this is a bet on the three best horses to finish first, second and third in the exact order you have selected.
- Hi-5 - bettors pick the first five finishers of a horse race in any order to win.
Esoteric bets on multiple races can increase your winnings. These bets work a little differently, increasing the risk while increasing the reward.
- Daily Double - In this wager, bettors pick the winners of two straight races and are paid if they are correct.
- Choose Three - Like the Daily Double, bettors raise the ante on three straight races where all horses must win in their respective races.
- Choose 4 - Players can bet on the outcome of multiple horse races and win large sums of money if they are correct. A player can place a win bet or select the first place horse to win, place or finish in the next succeeding race.
How to Use Horse Betting Strategy
Use the fresh knowledge you have gained and start betting on horses today. Do not be intimidated by the different types of betting; if you follow our Canadian horse racing betting guide, you will find it is not too complex. Our expert horse racing tipsters have been betting on the ponies for years and have found that certain strategies are much more likely to win than others. Here are some horse racing betting tips that we think are pretty good:
- Look for the best odds and occasionally make an upset pick. Most of the time, the horses that are favored to win have such low payouts that it is almost pointless to bet on them.
- Sign up with a horse racing betting site that offers the best bonuses. This will boost your bankroll and allow you to place bets and break into the industry without the risk of losing your money.
- Go to the top horse racing sites where they usually have the highest payouts. Most of the time, bettors don't win when using horse racing handicapping, but if you want to take your chances, the potential payout for your bet could be quite substantial.
Best Horse Racing Events for Canada punters
- Breeders’ Cup World Championships
- Triple Crown
- Kentucky Derby
- The Preakness Stakes
- Belmont Stakes
- Prix de l’Arc de Triomphe
- Melbourne Cup
- Durban July
- The Sun Met
