With the Belmont Stakes race going on this weekend, horse racing will be at the forefront for one of the last times this summer. Though a lot of people may think that betting on horse racing is as easy as logging into your sportsbook account and placing a bet, it’s a slightly different experience.
Generally speaking, horse racing will not be available in sportsbook apps, minus FanDuel in some states, and you will need to download a horse racing betting app. Also, the odds/payouts with horse race betting are calculated differently to other sports, since they utilize parimutuel odds. That means odds/payouts are adjusted according to how many people are betting on a horse, not by the “house” itself.
If you want to sign up for a horse race betting app, you can follow my guide below.
1. Download a horse race betting app
The first step is of course to choose and download the app you are going to sign up for. You will also need to make sure that horse race betting is legal in your state. There are more than 40 states that have legalized online horse racing betting, so there’s a good chance that it is available in your location.
The two best horse racing betting apps are TwinSpires and FanDuel Racing. Both have entry promotions for new users. It is worth noting that in some states, you can bet on horse racing directly through FanDuel Sportsbook. I have broken down the locations where you can bet on horse racing, and which app you can use.
FanDuel Sportsbook states: AZ, CO, IL, IN, KY, LA, MA, MD, MI, NY, OH, PA, VA, WV, WY
FanDuel Racing states: AR, CA, DE, FL, KY, NH, NM, ND, OR, RI, SD, and VT
TwinSpires states: AL, AZ, AR, CA, CO, CT, DE, FL, ID, IL, IA, KS, KY, LA, MD, MA, MI, MT, NH, NY, ND, OH, OK, OR, PA, RI, SD, TN, VT, VA, WA, WV, WI, and WY
TwinSpires has an entry offer that grants $400 in bonus funds, with you getting $100 for each $400 you wager. Though this can get you a lot of bonus funds, this promo doesn’t necessarily give you bonus bets to wager on the Belmont Stakes, as you would have to bet on the Belmont Stakes to get the bonus funds.
Meanwhile, FanDuel is offering a “bet insurance” that can get you up to $500 in racing credits. You can basically bet up to $500 with your first bet, and then if your bet loses, you get back racing credits equal to your stake.
2. Figuring out how the app works
Once you’ve registered for an account, you will need to get acclimated to the app and how things work. Luckily, the interface with horse race betting apps is generally similar to online sportsbooks.
As you can see from the screenshot below, there is a section for upcoming races/events on the left, some promotions near the top for both new and existing users, as well as a section featuring popular races for the day.
After you click on a race you want to bet on (in this case it is likely Belmont Stakes) you will be taken to a menu that allows you to toggle between the races on that track, as well as the different sorts of bets you can place such as “Win/Place”Show” and “Trifecta”. You will also be able to click on a horse to get more info on it.
3. Placing your first bet
Now that you know how the app works, it is time to place your first bet. The easiest way to wager would be to simply pick a horse to win the Belmont Stakes.
The current favorite to win the Belmont Stakes on FanDuel Racing is Sierra Leone, listed at 9/5 to win the race. Sierra Leone notably finished second in the Kentucky Derby, losing out to Mystic Dan.
You can also place exotic bets, which are a little more complicated. One example of an exotic bet would be an “exacta” bet, which requires you to select the No. 1 and No. 2 finishers in the right order to win. To make an “exacta” bet you can utilize the exacta box section from the betting menu near the top of the page.
As you can see, the process of betting on horse racing is fairly straightforward and similar to betting with a sportsbook. The main difference is of course the fact that you don’t know your exact odds. Due to horse racing using parimutuel odds, the payout is adjusted based on the betting action each horse receives.
Age and residency restrictions apply. See terms at racing.fanduel.com. Gambling Problem? Call 1-800-GAMBLER.
Create your new wagering account with TwinSpires.com and earn a $400 sign up bonus! Must use promo code on registration to be eligible. Valid for one use per household. $400 bonus cash will be credited in increments of $100 for every $400 wagered. To earn the full $400 bonus players must wager $1600 within 30 days of creating a TwinSpires account. Completed wagers mean that the race has run and the results are official. This sign up offer cannot be combined with any other registration bonus offer. Certain exclusions apply. All management decisions final.
