Hello, Canadian horse race betting fans, and welcome to casinosforcanada! In this article, Canadian punters will find a review about the best horse racing betting sites that offer quality odds and game play.
Top 10 Online Horse Racing Casinos
Below is a list of the top 10 online horse racing casinos that our team has compiled:
- Jackpot City Casino
- Spin Casino
- Royal Vegas Casino
- LVBet
- ReloadBet
- Betway Casino
- WallaceBet Casino
- Betsafe
- Webbyslot
- GunsBet
How We Value the Best Horse Racing Sites
We are always on the hunt for online casinos and sites that offer the best horse racing bets. Our team carefully evaluates each of the online casinos and betting sites that we recommend based on the following strict criteria:
Safety & Reliability: We thoroughly review each casino’s license and regulation records, and ensure that the site utilizes advanced SSL encryption and other robust security protocols before we recommend it to you.
Bonuses: A site with great wagering bonuses is always attractive to Canadian gamblers! Therefore, we see to it that the online horse race betting sites we recommend offer enticing bonuses that do not have overly stringent terms and conditions attached to them.
Variety of Bets: The variety and quality of bet lines is one of the major factors that affects our ratings. Our team guarantees that the horse race betting sites we recommend offer a wide range of betting options, including live betting, as well as great odds!
Technical support: A prompt, responsive customer service team is essential. All of the horse race betting sites that we recommend offer top notch customer support 24/7, through a variety of contact methods. This allows Canadian punters to quickly and easily resolve any issues they encounter, with minimal stress.
Mobile Compatibility: Gaming on the go is the current trend. Our team only recommends horse race betting sites that are compatible with mobile devices and tablets. We also check to see if there is a download app available for each website.
How horse racing came to be
Horse racing as we know it today originated in the 12th century with Thoroughbred horses. Prized for its endurance and speed, this horse breed was created when Arab stallions mated with English mares.
Betting on horse racing is one of the oldest methods of gambling and still remains one of the most popular sports to bet on. In this guide, Canadian players will learn about the different types of horse races, the ins and outs of horse racing betting and the largest, most popular horse racing events.
Types of horse racing bets
There are many types of horse race bets, which keeps things exciting for bettors. Horse bets range from simple bets on the winner of the race to more complex predictions, and there are markets to suit every type of horse racing punter. These include:
Outright
An outright bet is the simplest way to bet on a horse race. A player simply needs to pick which horse they think will win. If that horse crosses the finish line first, the player has won their bet.
Each Way
An each way bet generally pays out if the horse that the player selects finishes in the top three. This type of bet costs twice as much as an outright bet; however, the extra outlay is balanced by the increased chances of winning. Horses that finish in first place will win more than horses that finish in second or third place.
Place
A place bet backs a horse that the bettor believes will finish in the top two. Since the punter does not have to choose the horse that wins, the payout will be smaller than an outright bet. However, there is less risk attached to this type of bet.
Show
A show bet extends the parameters by one place, which means that the punter predicts a horse will finish in the top three. It is important to note that the odds will be low, but if a player backs a favourite, their chances of winning will be much higher than in an outright or place bet.
Across the Board
An “across the board” bet is essentially three bets in one, as it includes outright, place and show bets. If your horse finishes first, it receives a payout for all three bet types. A second-place finish leads to payouts for the place and show bets, while a third place finish results in a payout for the show bet only.
Tricast
In a tricast bet, players simply need to predict the horses that will finish first, second and third. A reverse tricast bet is the same, however players don’t have to predict the exact positions of the first three horses that complete the race.
Forecast
A forecast bet predicts the horses which will finish in first and second place, in the correct order. Like a reverse tricast bet, a reverse forecast bet means that a player bets on the first two horses, without worrying about the order that they finish.
First Four
A first four bet, also known as a superfecta bet, requires a player to pick the horses finishing in positions 1 to 4, in the exact order. This is a particularly expensive bet, but the winnings can be exceptionally high.
Accumulators
With an accumulator bet, a player combines two or more bets. In order to be a winner, all parts of the bet must be correct. It is possible to create accumulator bets from all of the bet types mentioned above. Players can also include prop bets within an accumulator bet. The more bets a player pools together, the higher the odds will be.
Exotic Bets
Exotic bets are similar to parlay bets, in the sense that the player is betting on how multiple horses will finish the race. This can be either in one horse race, or across multiple races. If it is across multiple races, these bets are known as horizontal exotics. With horizontal exotics, you pick the winner of several races and if one of the horses that you picked does not come out on top, you will lose the entire horizontal exotic.
In vertical exotics, a player only has to focus on a single race. It is worth noting that the player will have to know every single horse in that race, so that they can accurately bet on the horse that will finish first, second, third, and all the way down to the last place.
Quinella
A quinella is a very special type of horse race bet that combines a few different types of bets. It is somewhat like a vertical exotic bet and a place bet in one.
In the quinella bet, a player picks the horses that they believe will finish in first and second place. The difference is that you do not have to get the order correct, and as long as the first two horses are the ones you selected, you win.
How to Calculate Horse Racing Odds
There are three main types of odds in horse racing and sports betting: American moneyline (+200), decimal prices (3.00), and British fractional odds (2/1), which are most common in Canada.
Consider the following example: for decimal odds of 3.00 with a stake of $10 on a specific horse winning a race, the overall winnings would be your stake times the price (10 x 3.00). So, if a player bets $10 on a horse to win, the potential winnings would be $30 ($20 profit plus your stake).
With the horse racing bet odds calculator, you can convert odds, find out the profit for certain bet combinations and deduce the implied probability of winning.
How to use the horse race betting odds calculator:
Bet Amount: Choose the amount of money you want to bet.
Odds: Choose the odds you have been given or would like to test.
Payout: The calculator will indicate your total payout with the current odds and stake. You will also receive a breakdown of your profit, your implied probability, the decimals and the fractional odds.
Live Horse Race Betting
Live horse race betting is great for punters because they can bet on a horse in the middle of the race, based on the horse’s performance. Through information gained from live streaming or commentary, the player may be able to predict the outcome of the race and make a winning stake. Another advantage of this type of bet is that players who were not able to bet before the race started can still be a part of the action!
Not all horse race betting sites offer live betting, so it is advisable to confirm this beforehand.
Betting on horse races in mobile applications
Canadian players can now easily access top horse race betting apps and sites on all types of mobile devices. This means that Canadian players can bet anywhere, once they have an internet connection and have downloaded and installed the dedicated app from the betting site. An added advantage to mobile betting is that players no longer have to be glued to their computer when they want to set up or place their bets.
Canadian players who are looking for some of the best horse race betting apps should definitely check out our list of recommended sportsbooks as many of them carry state-of-the-art downloadable apps for both iPhone and Android users.
The 5 best online casinos with the coolest mobile horse race betting apps:
- BetCruise
- SvenBet
- Betsafe
- Casumo Sports
- Spin Casino
Types of Horse Racing Bonuses
The modern global online betting industry is highly competitive. This is good news for Canadian bettors because the best horse race betting sites need to come up with the most alluring, juicy bonus offers to attract and keep customers. These bonuses tend to fall into three categories, namely:
Welcome Deposit Bonuses
When a player signs up with a sportsbook for the first time, they usually receive a welcome bonus from the site. This usually comes as a percentage boost to multiply their initial deposit to the site. For example, a player may receive $500 to play games with, or be rewarded with a 100% multiplier boost of up to $500 on their first deposit.
In today’s market, it is rare for a sportsbook not to offer a welcome bonus because of the need to stand out in the online gambling industry. Sportsbooks all strive to offer a unique type of bonus. We advise players to always familiarize themselves with bonus terms and conditions to ensure that they are not overly stringent.
Enhanced/Boosted Odds and Free Race Bets
Enhanced/boosted odds have been increased more than normal, thereby providing a higher payout for a winning bet.
Free bets consist of free bonus money that a player can use when betting on an event. There are usually no terms or conditions attached to this bonus money and when a player wins their bet, they can cash out with ease.
VIP Club
Canadian players who become VIP Club members of a sportsbook or casino will receive special perks, such as free horse race bets, access to exclusive offers, better horse race odds, and trips to live horse racing events. VIP Club members may also be assigned a personal account manager and receive an all expenses paid vacation.
Rebate Bonus
This type of bonus refunds players a percentage of their net losses over a particular period of time or on a specific wager. For example, players can be refunded a percentage of the money that they lost on horse race bets in the previous week.
Tips for Winning Horse Race Bets
Here are some tips that can give you the best possible chance of picking a winner.
- Look out for free horse racing bets and other bonuses that sportsbooks offer before and during large events.
- Check a horse’s stats, such as its form, age, weight and trainer/owner. Horse racing betting sites should provide this information.
- Each way betting is the safest option, since you’ll profit if your horse finishes in the top places of a race set by the bookmaker.
- Always gamble responsibly and do not make a bet that you cannot afford to lose. If you do win, it is best to withdraw your initial stake amount before betting again.
- Bet on the favourite. For players who are new to betting, the best option is to bet on the favourite. Experts have decided that the horse in question is a favourite for a reason, so you can use their expertise to pick a winner. The odds won’t be great, but you’ll have a high chance of placing a winning bet.
- Know about the going. The “going” refers to the state of the track. It can be firm, or soggy after a significant rainfall. Horses perform differently in different conditions – for instance, a horse that won on a bright, sunny day might not be so successful galloping through mud. So, check the going before every bet and ensure that your selection reflects the condition of the track.
- Know about the distance: The distance of the race also plays a big factor in which horse will win. Horses with more stamina will be better choices for long races, while horses built for speed perform better in shorter races.
- Understand handicapping: It is important to understand how the handicapping system works so that you can beat it. More weight will be applied to horses who have been performing better. However, success can come from identifying horses who you believe are better than the system has stated.
What horse racing competitions can you bet on?
Many horse racing events take place on a daily basis, with some attracting large numbers of spectators. These tournaments and events are hosted all over the world and see millions of dollars’ worth in betting. Some of the events that Canadian players can bet on include:
The Grand National: The Grand National is the world’s most famous jump race. It takes place every year at Aintree, near Liverpool, and amasses millions of dollars. The event is exceptionally popular with Canadians. Since it is a big race with a huge field, it can be very difficult to predict the winner of the race.
The Kentucky Derby: The Kentucky Derby is hosted every year at Churchill Downs and is sometimes referred to as the Greatest Two Minutes in Sports. It is a flat race run over one and a quarter miles by 3-year old thoroughbreds. The purse is worth millions of dollars, with the winner scooping nearly 2/3 of the total amount.
The Melbourne Cup: The largest race in Australia, the Melbourne Cup is hosted at the Flemington Racecourse in Melbourne. The flat race is run over a distance of 2 miles by thoroughbreds that are 3 years of age and older. The purse is worth millions of dollars.
Queen’s Plate
Canada is the proud owner of its own Triple Crown for 3-year-old thoroughbreds that are foaled in the country. The first leg of the race is the Queen’s Plate. The event was named after Queen Victoria and was first run in 1860. This race is held on an artificial tapeta surface. The Queen’s Plate takes place at the Woodbine Racetrack in Toronto, Ontario each June or July.
Cheltenham Gold Cup
For Canadian players who prefer betting on horses over jumps and under National Hunt rules, the Cheltenham Gold Cup is for you. The steeplechase lasts for four fabulous days during the Cheltenham Festival, held in the United Kingdom every March.
Dictionary for Horse Racing
There are basic terms a beginner will need to know in order to place bets on horse races. Some of these terms include:
Going: A term that describes the condition of the race course, ranging from heavy to firm.
Handicap: Where horses are allowed to carry different weights from each other, leading to an even race.
Juvenile: A two-year-old horse.
Maiden: A horse that has not yet won a race.
National Hunt: Another name for jumps racing.
Racecard: The programme of the day’s races.
Colours: The shirts worn by the trainers, jockeys, and owners. Each team has their own unique colours.
Colt: A young male horse (usually younger than four years old) that has not been castrated.
Connections: This generally refers to the owner(s) and trainer(s) of the horse in question.
Filly: A young female horse of up to four years old.
Furlong: 220 yards.
Gelding: A male horse that has been castrated so that he is easier to train.
Accumulator: An accumulative bet that involves more than one horse, usually requiring all of the horses to win in order to be successful.
Allowance: To compensate for their inexperience, novice riders may be allowed a weight concession for their horse.
All-Weather: This term refers to an artificial track that can be used throughout the year, including in harsh weather conditions.
Ante-Post: This is when a player places a bet on a race ahead of the race day.
FAQ
Can I bet on horse racing online in Canada?
Once a player is of legal gambling age in their province, they can bet on horse races on legitimate online betting sites in Canada, such as the ones that we have recommended.
Are there wagering limits on horse race bets?
Yes, there are wagering limits on some horse race bets; however, these vary from site to site. Some sportsbooks will set limits on maximum payouts or how much a bettor can stake.
Is horse race betting fixed?
No. The best betting sites that offer horse race bets are regulated and audited by legitimate authoritative bodies, so all events and betting are fair. These sites must comply with industry rules and gambling laws or risk losing their operating licenses.
What are the different types of horse race bets?
The most popular bets in horse racing are to win or place. Each way betting is also common. Other straight wagers include show bets and across the board bets.
For exotic wagers, you’ll find bets such as exactor, quinella, tricast, double, and accumulators.
