Thanks to the variety of available online platforms, you can enjoy horse racing betting in Canada from the comfort of your home without needing to visit a racetrack. I’ve looked into what the Canadian horse racing betting marketplace offers in 2024. Keep reading this guide to find all of the latest actionable information you need before putting your money on a horse.
Finding Reliable Horse Racing Betting Sites
I will present for you how to find the most reliable betting sites below:
Ontario
It’s worth noting that Ontario-regulated sportsbooks are prohibited from offering fixed-odds horse racing wagering to players in the region. The only legal online horse racing betting platforms available to Ontario players are bet365’s Ontario website and Woodbine Entertainment’s sites HPIbet and Dark Horse Bets.
Now, check out the top horse racing betting platforms to place your horse race wagers from Canada. Keep in mind that the list below is not final as it can be updated at any time in case we find any new excellent horse racing betting sites.
Canada
1.Betway Sports
Pros:
- Sports Welcome bonus of up to $200
- Excellent website interface
- Instant deposit methods including Interac
- Lots of live betting
- Comprehensive help and FAQ section
Cons:
- None
When you are signing up at Betway for the first time, the sportsbook presents two different sports welcome offers for you to select from.
1st Sports Welcome Offer
The site matches your first deposit by 100%. This bonus offer is capped at $200, so a first deposit of $200 or more still gets a $200 bonus.
Key terms and conditions:
- You have to wager an amount equal to ten (10) times the bonus granted.
- You have 7 days from the date your account was created to make a first deposit to receive a bonus.
2nd Sports Welcome Offer
Players registering from any Canadian province except Ontario are eligible for this sports welcome offer. You’ll get a 100% free bet of up to $200 if your first bet is lost.
Key terms and conditions:
- The 100% free bet will be automatically credited to your free bet balance within 30 minutes after your first bet is settled as a loss.
- The free bet offer will expire 7 days after being credited to your balance.
- Now wagering requirement.
2. Bet365
Pros:
- Exclusive Canadian Bet365 app
- Interac available
- Licensed by 5 reputable gambling commissions
- Lots of horse racing live streams
- Extensive live betting
Cons:
- No telephone support
When you join Bet365 as a new player and make a deposit of $10 or more, the sportsbook offers you a $100 bonus after betting at least $1 regardless of whether your bet wins or not. To use them, simply select “Use Bonus Bets” in the bet slip.
Key terms and conditions:
- You must claim the offer within 30 days of registering your account.
- Your qualifying bet(s) must settle within 30 days of claiming the offer.
- Your bonus bets will be forfeited and removed if your account is inactive for 90 consecutive days.
3. Bodog Canada
Pros:
- Easy to navigate
- Sports welcome offer of up to $400
- 5x bonus wagering requirement
- Responsible gambling education
- Offers crypto payment methods
Cons:
- No live streaming
If you sign up for the sportsbook as a new player, it matches your first deposit by 100% up to $400 and an additional 50 free spins that you can use on its “Gods of Luxor” slot.
Key terms and conditions:
- Minimum deposit is $10.
- The deposit plus bonus amount is subject to a 5X wagering requirement before the bonus amount and any winnings can be withdrawn.
- Once the bonus has been redeemed, you must meet the wagering requirements within 180 days.
4. Powbet
Pros:
- Functional live chat 24/7
- Offers an extensive range of races
- Wide range of promotions
- Accumulator boosts up to 100% of qualifying bets
- 20+ payment methods including crypto options
Cons:
No live streaming
For new players, if you make a first deposit of at least $30, the sportsbook offers a 100% bonus up to $150.
Key terms and conditions:
- You need to play through the full deposit amount at least once on odds not less than 1.50 and all bets must be settled.
- The wagering requirement must be met within 30 days of your first deposit.
- Cashed-out bets and deposits made through Skrill or Neteller do not qualify for this promotion.
- Players can benefit from accumulator boosts for which you can get between 3% and 100% boosts depending on the number of qualifying bets you place, subject to T&Cs.
5. Lucky Block
Pros:
- Great customer care support
- Fast payouts
- 200% first deposit bonus
- Tons of traditional and harness races
- 6x bonus wagering requirement
Cons:
- Poor navigation menu
This sportsbook operates only in crypto. However, you can deposit with a bank card with the “Buy Crypto” option which can be found in your account wallet.
Variety in Horse Racing
Now that you know the top horse racing betting operators in the country, keep on reading to learn about horse racing types.
Thoroughbred Racing
This form of horse racing involves jockeys riding thoroughbred horses running on flat surfaces which can either be a dirt or grass track. Distances can range from less than 1 mile to 2.5 miles in length.
Jump Racing
Jump racing, which is also referred to as a steeplechase is whereby riders striding horses have to jump over obstacles, usually multiple times.
Harness Racing
In harness races, the horses trot or pace whilst dragging a rider in a cart called a sulky. This type of race takes place on dirt tracks and is usually run over one mile.
Popular Bet Types in Horse Racing
Below you will find the different bet types, typically found when betting on horse racing:
To
Win
What you need to do is to bet on a horse that you believe will win a race.
Example: Betting on Fierceness to win the 2024 Kentucky Derby @12.00 odds.
To
Place
If the horse you bet on finishes first, or second, your bet wins, and the potential payout depends on the horse’s position.
Example: Backing Nisos to place @8.30 odds.
To Show
This is a variation of a place wager, but here you bet on a horse to finish either in first place, second position, or third place.
Example: Wagering on Amante Bianco to show @15.20 odds
Each-Way
You are laying two separate bets in one choice: betting on a horse to win and wagering on the same horse to place. However, the specific terms of this bet type depend on the sportsbook offering it.
Quinella
What you have to do is to pick two horses to occupy the first two positions in a race in no particular order. This means you are betting on any of the two horses to either come 1st or 2nd.
Exacta
This is similar to Quinella, but for this type, you need to predict the exact positions in which the horses will finish.
Trifecta
You have to perfectly forecast the three horses to finish in the top three places in an exact order.
Double
This type of bet requires you to predict the winning horses of two consecutive races of the same meeting.
Triple
Also known as a Pick 3 bet You need to guess the winners of three consecutive races.
Across The Board
You bet on a horse to win, to show, and to place.
Example: Nisos across the board @ 3.50.
Pari-Mutuel vs. Fixed Odds Wagering
What are the differences between Pari-Mutuel wagering and Fixed odds wagering? I recommend that you continue reading:
Pari-Mutuel Wagering
Pari-mutuel is a type of horse wagering in which you don’t know the actual horse racing betting odds you’re being offered on your picks until betting is closed and settled for a particular race. Pari-mutuel betting utilizes a pool system whereby all the wagers placed on a horse or horses are put together and a track takes out its share from the total pool. Bettors who won their bets now receive their potential payouts from the remaining pool amount depending on their potential winning stakes.
Fixed Odds Wagering
For fixed odds wagering, you’re betting against the sportsbook. Once you confirm your bet, as the name indicates, the odds remain as they are, and you know exactly what your potential payout is.
Understanding Odds in Horse Racing
Before betting on horse racing, you need to understand the three ways in which odds can be displayed.
Decimal
These odds are usually rounded to two decimal places. To know your potential payout, just multiply your stake amount by the given odds. For example, if you place a win bet of $10 at 6.00 odds, you’ll receive $60 if your horse wins the race. Note that the payout includes your initial wager.
Fractional
Fractional odds are displayed in fractions. To know how much you’ll get if your bet wins, simply multiply the fraction by your wager amount and add your initial stake. For example, a $10 win bet at 10⁄2 means your total payout will be $60 ($50 +$10 stake back) if the horse you bet on finishes 1st.
American
For the American odds format, a minus (-) sign is used to indicate a favorite and tells you the amount you need to stake to win $100 whereas a plus (+) sign is used to show the amount won for every $100 you wager.
Getting Started with Horse Racing Betting Sites
You need to be at least 18 years or 19 years old depending on the specific province in which you live to be eligible to place any form of sports betting. If you meet the age requirement, you can follow the following simple steps to get started.
1. Registration
Locate the signup button on a sportsbook that you like, preferably one of the recommended sites listed above. You’ll fill out a registration form by providing some required information such as your full name, residential address, and banking details for verification.
2. Deposit
Once your information is verified and your account created, the next step is to deposit real money into your balance using any of the payment methods offered by the sportsbook that is best for you.
3. Placing Bets
After successfully making your first deposit, your account should be up and running and the next thing to do at this point is to head to the sportsbook’s horse racing section to make your selections.
4. Withdrawing Funds
Withdrawal methods and terms depend on the particular betting site you’re using. You need to read from your sportsbook to understand how and when to expect your potential winnings.
Evaluating Horse Racing Betting Sites
Before I endorse any horse racing betting site, I consider a checklist of vital metrics which are mentioned below.
Bonuses and promotions
I check to see the exclusive welcome offers, reload bonuses, free bets, and other interesting promotions that a sportsbook is offering. The premier horse racing sites tend to offer something attractive to players.
Mobile Experience
The best sites in Canada are mobile-friendly. Some sportsbooks even have downloadable apps that you can use for a tailored betting experience.
Customer Support
The leading horse racing betting sites are always available to promptly respond to the concerns of players. For me to gain first-hand experience, I sent queries by e-mail and used the 24⁄7 live chat sessions of all the recommended sites, and I liked the swift responses and explanations given by the customer agents.
Banking and Payout Speed
I score more ranking points for sportsbooks which provide a wide variety of payment options for you to select that best suits you. The payout speed at all the sites I’ve outlined in this guide is fast. As you can see, some of the sites even offer crypto payment options which can be faster.
Security and trust
Before I encourage you to sign up for a sportsbook, I make sure it has SSL encryption that secures your data and holds a license(s) from reputable regulatory bodies like the Malta Gaming Authority, Kahnawake Gaming Commission, and the United Kingdom Gambling Commission.
Key Horse Racing Events to Bet on in 2024
American Triple Crown Races
Kentucky Derby - 150th Running
Preakness Stakes - 149th Running
Belmont Stakes – 156th Running
Breeder’s Cup – 41st Running
British Triple Crown Races
The QIPCO 2000 Guineas
Epsom Derby
**St. Leger
**Responsible Gambling
** Always gamble responsibly, keep the following in mind:- Never bet money that you can’t afford to lose.
- Don’t use betting as a source of income.
- Take breaks.
- Always stick to your budget.
- Seek help if you think betting is becoming a problem for you.