Online Horse Race Betting
Before there was betting on sports like basketball and football, the predominant method of wagering was on horse races. Whether we are talking about the world’s most famous and iconic horse races, or those that exist (and have existed) in just about every moderately-sized city, there are horse races to be wagered upon. Not only that, people absolutely love betting on horse races. Back in the early days, betting on horse races was something that had to be done at the track itself, but now, the internet has opened up people to a world of horse race betting that some thought might never exist.
Now, a single bettor can place wagers on horse races from around the world on a daily basis. While in the past you would have to wait until your local track was hosting a race, now you can login online and be greeted with dozens, sometimes hundreds, of races from all over the world. Even in the United States, where online betting is constantly being called into question, there are plenty of online horse race betting options to be had. Everything you need to know about this and more will be explained in the following.
Legality of Horse Race Betting in the United States
Though it is not true, there is an overarching belief held by many US citizens that says online betting, whether on sports or anything else, is illegal. While this is not strictly true, when it comes to horse race betting it is a flat-out falsehood. So long as horse race bets are placed through an entity that is both registered and regulated within the United States, it is entirely legal to place bets there.
According to US law, betting on horse races and greyhound races are exempt from statutes regarding gaming. While, on a Federal level, horse race betting online is completely and entirely legal, each and every state has the right to decide whether they are going to allow online wagering on horse races. So, before you jump online and begin placing wagers, be sure to check with your state laws to ensure that what you are doing is within the realm of the law.
As of now, the states that prohibit online horse race betting are as follows:
Horse Race Betting Odds
With regard to horse race betting, you cannot accurately place any wager until you have determined what the potential payout will be for a winning wager. In other words, you need to know how horse race betting odds are structured before you can place any sort of horse race bet.
When we talk about horse bets like this, we talk about the win odds. Rather than telling you how much money you are going to win, win odds tell you the amount of profit you stand to win based on the amount of money which you are wagering.
So, to give you an idea, an example of win odds would be something like Horse A is listed at 7-6 odds. This “7-6” is telling you that, in order to profit $7, you will need to wager $6. In the same breath, 20-1 win odds would mean that you will profit $20 for every $1 wagered. In this example, a winning wager of $5 would net you a profit of $100.
No matter where in the world you go in the world, the odds with regard to horse race betting will look like and be calculated in exactly the same way as was described above.
Where to Bet on Horse Racing
In the United States, there are countless websites at which you can place wagers on horse races. The glory of it all is that the races you are betting on do not necessarily even need to be taking place in the United States. Many of these events will be happening overseas, especially if you are attempting to place wagers during the late night or early morning hours of the day.
As for where, exactly, to go, that much is something that really boils down to personal preference. Every bettor is just a bit different from the next, and will have different preferences. Some bettors want a site that focuses only on US-based races, while another might want a site that focuses on horse races internationally. By doing your due diligence and finding out more about the sites which are available to you, you will end up at the site that most closely suits your individualized needs.
William Hill is one of the top-rated sites at which you can place horse racing bets. The brand originated in the UK, but has since made waves around the world and has acquired quite a following. With more than 80 years of experience, it is safe to say that they know what they are doing. As far as variety is concerned, there are few sites out there who have William Hill beat. Not only do they cover a wide variety of races from the United States, they also cover a host of events from Europe, Asia, and elsewhere around the world.
Another top-tier site for placing horse racing wagers is Twin Spires. Twin Spires, in many ways, is like William Hill because the site has been around forever. With that said, US bettors tend to like Twin Spires a bit more than William Hill because the site is geared heavily towards United States horse racing events. They also feature events from around the world, but they do well to emphasize their US focus.
Beyond these two, there are plenty of other sites to choose from. As was previously mentioned, however, we encourage you to do research before committing to betting at one, specific site.