Best Horse Racing Betting Sites – May 2022

The Post presents the best horse racing betting sites for all your horse racing bets ahead of the 2022 Triple Crown Races, which begin with the Kentucky Derby.

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More on the Best Horse Racing Sites

Best Upcoming Horse Race

2022 Kentucky Derby

Summer is on the horizon, and that means the Kentucky Derby is here. The 148th edition of the race takes place on Saturday 7th May, with post time scheduled for 6:57PM ET.

This year’s favorite is Chad Brown’s Zandon (3-1), who drew the No. 10 position for Saturday’s race. Closely followed by No. 3 Epicenter (7-2), who may have been tabbed as the chalk had the colt had a more favorable post. But after those two, the odds start to drift; Canadian-bred No. 8 Messier (8-1) is the only other horse with single-digit odds after the draw.

With an up-for-grabs race, featuring a field of 20 horses and no runaway favorite, this Kentucky Derby could favor gamblers who like to take their shots down the board.

More Upcoming Horse Races

Best Betting Sites for Horse Racing

1. TVG

Founded in 1999 as the Television Games Network, TVG has become one of the most recognizable names in horse racing over the years. With a 24/7 television channel that is always showing races from around the world, TVG is seemingly always on at least one TV in your favorite sports bar — no matter the time of day.

Owned by BetFair (which also operates FanDuel), TVG is available in 33 states (Note: NJ bettors will need to download 4NJBets — which is the same app, just a different name).

TVG is one of the best sites to use, with a wide range of different tools to help your horse racing bets. Bettors can look at past performances, read the latest racing news, or see who the experts are picking in the top races. And of course, you can stream TVG from your desktop or mobile phone.

2. TwinSpires

Named after the iconic Twin Spires at Churchill Downs, the home of the Kentucky Derby, TwinSpires launched its horse racing betting service in 2007. Earlier in 2022, it was announced that TwinSpires would focus solely on horse racing instead of expanding into the ever-growing and ultra-competitive sports betting landscape.

Although named for an iconic Kentucky landmark, TwinSpires is free to download from the App Store and is available in 39 states.

3. DRF Bets

While there are plenty of relatively new players in the world of sports betting and horse racing, DRF Bets has longevity and the credibility that comes with it on their side.

The Daily Racing Form — colloquially referred to as DRF — began in 1894 as a horse racing statistics company back in the late 1800’s. The Daily Racing Form is still in print today and is available everyday at every track around the country.

DRF isn’t just a newspaper, though, and launched a mobile app in 2016 to serve it’s vast audience.

4. AmWager

AmWager may not have the recognizable name that other horse betting sites have, but it is easily one of the best apps to use. It boasts about being faster than any other racing site, and you will immediately notice how quickly the platform operates.

Offering two different handicapping services, bettors new to horse racing can opt for the easy to use guide, whilst their pro handicapping services caters to the more experienced bettors.

Their mobile app is available on both iOS and Android, meaning you can wager on the go, or even place your bets whilst your at the track. Like others, AmWager is connected to the parimutuel wagering pools, meaning you’ll get the same odds as you will on the track.

How to Sign up with an Online Racebook

For those looking to sign up and create a new account at a racebook, here’s a basic sign-up routine that you will likely need to follow in order to get up and running with a horse race betting account:

1. Choose a horse race betting site or app.
2. Click the “register” or “join now” button to start the registration process
3. Fill out the registration form with personal information like your date of birth, email address, phone number, full name, and/or social security number. You will also be asked to choose a username and password.
4. If you’re trying to redeem a sign-up offer, make sure you follow the instructions. Some racebooks require users to opt-in to redeem offers, such as deposit matches. Others may ask you to enter a promo code.
5. Click on the submit button in order to proceed in the registration process.
6. Verify your account, usually done via e-mail.

How to choose a Horse Racing Betting Site

Sign-Up Offers and Bonuses

Finding a good sign-up bonus is always a perk when it comes to picking an online racebook or app, but each will suit different kinds of horse bettors.

If you’re just looking to a make a once-a-year bet on the Kentucky Derby, a risk-free bet may be the right fit.

More seasoned punters may enjoy cashback-style promos where new customers get a certain percentage of their stake back in cash over a specified initial period.

Live streaming

We personally think live streaming is very important so you can watch your race live. The best online horse racing betting sites all will have live streams as standard so you can see the action live and on the move.

Some operators and racebooks will offer streaming for not just the race, giving bettors access to pre-race interviews and expert analysis. Usually this would be accessible through a TV network, but some sports betting sites will offer these add ons free of charge.

Existing Bonuses and Loyalty Schemes

After you use the sign up bonus, there are plenty of other promos for all customers to take advantage of. Bonuses are especially popular around the Kentucky Derby, Preakness Stakes, Belmont Stakes, Breeders’ Cup, and other top races in the US.

Exacta insurance bonuses are some of the most frequent bonuses offered by horse racing betting sites. You can place an exacta bet, but if you lose, you will get a partial refund. Plus, there are other risk-free bets that will be offered for the best tracks, such as Churchill Downs and Keeneland.

One of the easiest ways to get a bonus on TVG is by referring a friend. You will get a $25 bonus for every friend you get to sign up for TVG, and you can earn up to $1,000.

If your state has every site available, you can sign up for each one. It’s great to be able to look for the best horse racing bonuses and promos for the most popular events. However, there are loyalty programs that will reward you with bonuses. These rewards schemes can make it worth sticking with one racebook so you can earn as much as possible.

Past Performance Data

One of the most important factors when placing your horse racing bets, is using form and previous results to help craft your wagers. The best horse racing betting sites will have form guides and past performance data available, but the depth of information varies for each site.

TVG account holders can get access to a whole range of past performance programmes, depending on how much you wish to stake. A basic package is available, right up to their full and watch and wager PPs.

TwinSpires also give their customer Free Past Performances, which include insider picks. Of course, you must be an active customer and have placed a wager in order to claim this package, but they can really make your horse racing bets go a long way.

Horse Racing Events

Each horse racing betting site will provide different varieties of betting markets for the big races, and even the smaller ones. The major events will be offered, such as the Kentucky Derby.

The best golf betting sites will allow you to place bets at smaller, less well known races, with these sites standing out from their rivals. If you’re a true fan of the horses, then it’s worth checking out which of the horse racing betting sites offer the races you’re most interested in. 

Markets Offered

There are a plethora of ways to bet on horse racing, but not all horse racing books will offer these markets. Most will offer the Win, Place and Show markets, but there are so many more markets out there.

Check out our guide on how to bet on horse racing, to see which types of bets are available for horse racing.

Handicapping Tools

Everyone needs a little help sometimes, and there’s plenty of handicapping information available out there. Each of the horse racing betting sites in this piece offers various handicapping information, with picks, results and form for upcoming races.

The better and more vast the information is, the better your wagering experience will be. TVG offer a subscription service for the best handicappers out there, with selections for the biggest upcoming horse races.

TVG and Twinspires also offer free handicapper picks, which are a great way to get started in horse racing betting. Try out their free services, and if you like, you can upgrade to the top handicappers on offer.

Horse Racing FAQs

How does Horse Racing differ from Sports Betting?

The wagering pools in horse racing are pari-mutuel, which differs from sports betting in the sense that bettors aren’t trying to beat the house but instead are trying to beat the public at large. The key to long-term success in betting the ponies is being disciplined in identifying value in the pools.

How often do favorites win in horse racing?

As a rule of thumb, the favorite in horse racing wins about 35% of the time, but the number of course varies depending on the type of race and how many horses are in the field.

Knowing that, bettors may think it’s wise to just blindy bet the favorites — otherwise known as the chalk — but a closer look at the implied odds and you’d see that you’d need average odds of 2-1 or better to break even on “win” bets on the chalk.

That means, in order to have success over the long-term, punters must play the horses they deem to have a better chance to win compared to their implied odds.

Where can I bet on Horse Racing?

There are plenty of places and ways where you can bet on horse racing. The most recognizable avenue to a bet is at the track, but that is not going to be the case for a while. Instead, mobile betting will be the only way to play the ponies. These states allow legal mobile betting for horse racing:

• Alabama
• Arkansas
• California
• Connecticut
• Delaware
• Florida
• Illinois
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maryland
• Massachusetts
• Montana
• New Hampshire
• New York
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• Rhode Island
• South Dakota
• Tennessee
• Vermont
• Virginia
• Washington
• West Virginia
• Wisconsin
• Wyoming

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Speed Ratings and Beyer Speed Figures

Speed ratings are relative performance indicators that allows us to compare performances across tracks where not all factors are even. Some tracks might be naturally faster like Gulfstream or Santa Anita, where the surfaces are harder, compared to a track like Belmont or Aqueduct, where the surfaces are generally a bit deeper.

They also account for the condition of the track as most horses will travel slower over softer ground. This means that simply comparing times is ineffective as they need some kind of leveling factor.

That’s what is built into speed ratings and they give a nice, if imperfect, indicator of relative performance and ability.

Class Rating

A relative strength index for the field of a specific race. This gives you an idea of the level of the competition the horse was facing, as it can vary wildly from track to track even with the same win conditions.