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Horse racing betting guide 2023
Online horse racing betting in Canada and the industry in general generates billions of dollars to the country’s economy. To join in on the fun, we’ll show you how to bet on horse racing, where to find the best sites, show you a win & each-way betting video and more.
Best horse racing betting sites in Canada
Canada’s top sportsbook
Pros
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Dozens of sports to bet on -
Dedicated sports betting app
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Specific esports promotions
Cons
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FAQs section is lacking
Payments
2
/5
N/A
Bonus
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Games: 1,500+ -
Win Rate: 96.20%
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Payout Speed: 1-5 days
Pros
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Mobile apps for Android and iOS
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eSports betting markets
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24/7 live chat
Cons
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Poor VIP program
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Live chat only in English
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Not many payment methods
Payments
Best navigation
Pros
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Very modern sportsbook
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Low bonus wager requirement
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Personalized sports betting
Cons
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Promotions aren’t so regular
Payments
Best promotions
Pros
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Large sports betting selection
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Dedicated sports betting app
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Huge selection of promotions
Cons
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No live chat support
Payments
Pros
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Refer-a-friend bonus offer
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Stylish sportsbook design
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Separate racebook section
Cons
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Few esports betting options
Payments
Pros
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Leading sports odds
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Fast and easy to navigate
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Daily promos & free bets
Cons
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No live streaming available
Payments
Pros
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1,000 daily sports events
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Dedicated esports section
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24/7 customer support
Cons
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Limited VIP program
Payments
Best sports app
Pros
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Big variety of sports markets
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Award-winning mobile app
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Great sports betting promos
Cons
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Slightly confusing sports page
Payments
Pros
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Multiple live betting options
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Very appealing site design
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Quick payout times
Cons
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Deposit & withdrawal fees
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Customer support is not 24/7
Payments
Pros
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Free bets for sports events
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Large range of payment methods
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Fully licensed and reputable
Cons
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No horse racing betting
Payments
More on horse racing betting
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Breeders' Cup Horse Racing
The Breeders’ Cup brings the best thoroughbred racehorses to North America.
Find top sites to bet on.
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Kentucky Derby Horse Racing
The Kentucky Derby is huge across North America, so discover where is best to
bet on this famous race!
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UK Horse Racing
British horse racing is so varied that Canadian bettors need a gambling
experience to match.
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Australia Horse Racing
Horse racing in Australia attracts attention. Where is best when betting on
the action Down Under?
How to bet on horse racing
- Sign up and login to your chosen online casino account
- Head to the sports or separate ‘Racebook’ section
- You’ll find a list of meetings and races to pick from
- Most sportsbooks will show you the horses’ age and form etc
- Select a horse to add to your betslip
- Enter your stake and choose a bet such as win or each-way
- Confirm the bet and wait for your horse to race
How horse racing odds work
There are three main types of odds in horse racing and sports betting: British fractional odds (eg. 2/1), the American moneyline (+200) or decimal prices (3.00), which are most common in Canada.
To work out how horse racing odds work, we’ll take decimal odds of 3.00 with a stake of C$10 on a horse winning a race as an example. Basically, your overall winnings would be your stake times the price (10 x 3.00). So, if you bet C$10 on the horse to win, your potential winnings would be C$30 (C$20 profit plus your stake back).
Try for yourself below with our horse racing bet calculator. You can convert odds, find out profits for certain bet combinations and see what the implied probability of winning is.
Popular types of horse racing bets
Horse racing betting is one of the simplest in sport. Many gamblers find betting on a horse to win or place is enough, but there are other markets and bet combinations to look out for to enhance your experience.
So, what is the best type of bet in horse racing? We’ll take you through all the main types of bets and how they work.
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Place
A wager that your horse comes first or second. You have an increased chance of a payout compared to a Win bet, but the price will be shorter.
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Show Bet
This bet is for your horse to finish first, second or third. Three wagers are combined into one. If your selection wins, you win all three wagers. If second, two. And if third, one. The payout is smaller because the odds are shorter.
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Across the board
Why not combine separate Win, Place and Show bets together? You gamble more with three wagers in one but for greater potential profit.
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Each-way
If you’re wondering how to bet on horse racing with an each-way bet, think of it as a two-in-one wager. Half of your stake goes on a win and half on place terms that are determined by the site. These vary depending on the type of horse race and number of runners.
If your horse wins, you’ll receive a bigger return. If your horse places, then you’ll receive a smaller fraction of the win odds. Each-way can be the best value horse racing bet especially when you pick a big outsider.
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Exactor
You’re betting on two horses to finish first and second in the same race in a specific order. This wager is also called an Exacta in the US and Forecast in the UK.
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Quinella
This is like an Exactor, but there are two bets in one. Quinellas see you wager on two horses in the same race to finish first and second in any order.
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Triactor
Taking it a step further, you can also bet on three horses to finish first, second and third in the same race in a given order. This is also called a Trifecta in the US and Tricast in the UK.
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Double
Where you bet on two horses to win two different races.
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Triple
Here, you bet on three horses to win three different races. This is also known as a Treble in the UK.
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Multi
Horse racing multiple bets (or multi) are the same as a parlay or accumulator in other sports. You bet on multiple horses to win their respective races. All legs of the wager need to win in order to receive a payout.
Straight wagers
Exotic wagers
Horse racing betting tips
- Look out for free horse racing bets and other bonuses that sportsbooks offer before and during certain big events.
- It’s important to check a horse’s stats, such as its form, age, weight and trainer/owner. Horse racing betting sites should provide this info.
- Each-way betting is the safest option, as you’ll profit if your horse finishes in the top places of a race set by the bookmaker.
- Don’t always back the favourite. These odds are usually very short, and often an outsider (sometimes big) can win.
- Remember not to bet anything you can’t afford to lose. If you do win, it is best to withdraw your initial stake amount before betting again.
Main horse races to bet on
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Breeders’ Cup
Breeders’ Cup
The Breeders’ Cup is the premier horse racing event in North America, held annually over two days in early November. And did you know it took place in Canada at Woodbine Racetrack in 1996?
A series of Flat horse races around the world carry invites to the Breeders’ Cup for the winners. With events on both dirt and turf, it attracts worldwide entries.
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Cheltenham Gold Cup
Cheltenham Gold Cup
If you prefer betting on horses over jumps and under National Hunt rules, then the Cheltenham Gold Cup is for you.
It’s the feature steeplechase race during four fabulous days from the Cheltenham Festival held in the UK every March.
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Kentucky Derby
Kentucky Derby
The best three-year-old North American thoroughbreds contest the Kentucky Derby at Churchill Downs in Louisville in early May.
Nicknamed ‘the Run for the Roses’, it is arguably the world’s most famous Flat dirt race. The Kentucky Derby is certainly the most prestigious in the USA and it’s the first leg of the American Triple Crown.
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Melbourne Cup
Melbourne Cup
Flat handicaps don’t come more prestigious or valuable than the Melbourne Cup. Known as ‘the race that stops a nation’ in Australia, there is global appeal with horses sent Down Under just to run in it.
Held at Flemington in Melbourne, Victoria on the first Tuesday in November, horses need speed as well as stamina to win.
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Queen’s Plate
Queen’s Plate
Not to be outdone by their American neighbours, Canada has its own Triple Crown for three-year-old thoroughbreds foaled in the country. The first leg of that is the Queen’s Plate.
Named after Queen Victoria and first run in 1860, this race is on an artificial tapeta surface. The Queen’s Plate takes place at Woodbine in Toronto, Ontario each June or July.
Horse racing schedule for 2022
What horse races are coming up? Make a note of the following key dates in your horse racing calendar for 2022, featuring major events across the globe:
- January 7-8: Queen’s Plate (Woodbine, Canada)
- March 15-18: Cheltenham Festival (Cheltenham, UK)
- March 26: Dubai World Cup (Meydan, UAE)
- April 7-9: Aintree Grand National Festival (Aintree, UK)
- May 7: Kentucky Derby (Louisville, USA)
- May 21: Preakness Stakes (Baltimore, USA)
- June 11: Belmont Stakes (New York, USA)
- June 14-18: Royal Ascot (Ascot, UK)
- July 26-30: Glorious Goodwood (Goodwood, UK)
- August 17-20: Ebor Festival (York, UK)
- October 1-2: Arc Weekend (Longchamp, France)
- November 1: Melbourne Cup (Victoria, Australia)
- November 4-5: Breeders’ Cup (Keeneland, USA)
Racebook bonuses
In an ever-growing marketplace, attracting and rewarding your customers is something every sports betting site should do. One classic method they use is offering bonus incentives. These largely fall into three categories:
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Welcome Bonus
- Free horse racing bets or tokens once you’ve registered and made a deposit are the norm for new customers
- If you don’t receive something for signing up to an online horse racing betting site, then that sportsbook isn’t worth your time
- Make sure you check terms and conditions attached to welcome offers – just so you’re satisfied that the bonus is the real deal
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Enhanced Odds
- If major horse races are taking place, then lookout for enhanced odds
- These could take the form of price boosts for a win or even extra places if many runners are taking part
- Enhanced odds promotions are open to both new and existing customers, but remember stake limits may apply
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VIP Club
- Regular bettors can have their loyalty to sportsbooks rewarded through VIP Clubs
- Opt-in and place a certain number of bets each week to receive bonuses like free bet tokens
- The VIP Club experience can make you feel special as not every user of the site will be getting such benefits
Horse racing betting on mobile
Sportsbooks are looking to keep themselves at the cutting edge of technology. That means betting apps for smartphones and tablets can help Canadian bettors with horse betting online.
We all take our iPhone, Android or other devices with us everywhere we go. Gambling on horse racing online has never been easier with streamlined experiences through downloaded betting apps.
How we review horse racing betting sites
Horse racing online is big business through sportsbooks. We have an experienced expert team who review all the best sites for you. Their advice on what the best online horse racing experience looks like for bettors is as follows:
FAQs
Can I bet on horse racing online in Canada?
Yes, as long as you are betting at a legitimate online horse racing betting site in Canada, such as the ones we recommend. You also must be of legal gambling age depending on which Canadian region you’re in. You can find out more in our gambling guide.
What are the best horse racing sites to bet at?
What types of bets are there in horse racing?
What is the best bet to make in horse racing?
How do odds work in horse racing?
How do horse racing payouts work?
Are there horse racing wager limits?
Are horse racing bets fixed?
Where can I watch horse races live online?
