Compare the Best Horse Racing Odds & Lines

Betting on a horse race is a profitable pursuit if you develop a flair for picking winners. This guide explains the difference between pari-mutuel payouts and fixed odds.

Horse racing odds are a combination of a horse's implied probability of winning the race and the payout you would receive by placing a winning bet on that horse.

The majority of horse racing bets placed in the United States are calculated on a pari-mutuel basis. The industry takes a cut of the money wagered and the pot is divided between winning bettors.

Some betting sites offer fixed odds betting on the biggest races. Fixed horse racing odds can come in three different formats: American, fractional or decimal. They are presented in the American style. If the horse bet odds start with a plus, it explains the payout you would receive from a winning $100 bet. If they start in a minus, the amount you must risk to win $ 100 is shown.

Horse racing bets fall into two broad categories: straight bets and exotic wagers.

The pari-mutuel payout is larger for most bets on horse racing. Fixed horse betting odds on Triple Crown Races and Breeders’ Cup races are better. Rich Strike is an 80/1 outsider for the Kentucky Derby in 2022.

The place bet is a bet on a horse to finish either first or second in a race. Sportsbooks like BetOnline, Bovada and BetUS only offer fixed horse racing odds on the winner of a major race, and not on place, the show or exotics.

Show bet is a bet on a horse to finish either first, second or third. It doesn't matter where in the top 3 your horse finishes, as the payout will be the same.

Across the board bet is three bets: one on the win, one for the place and one to the show. If the horse wins, all three of the bets pay out.

An exacta is a bet on the winner of a race and the runner-up. Payouts are pari-mutuel and determined by how popular each horse was.

A quinella allows you to name the top two horses in a race and they can finish first or second in any order.

Trifecta requires you to pick the first three horses to finish a race. A $0.50 trifecita of Early Voting, Epicenter and Creative Minister paid $33.25 in the 2022 Preakness.

A superfecta is a bet that requires you to name the winner of a race, the runner-up, third-place horse and the fourth-placed horse in that exact order. It normally pays a lot more than the trifecta.

Daily double bet requires you to pick the winning horse in two separate races. Pick 3 or Pick 4 requires picking the winner of 3 to 4 consecutive races at the same racetrack.

It is easy to sign up with a horse racing betting site. BetOnline is the best online racebook according to experts. The new player welcome bonus can earn you up to $1,000 in site credit. It is for the sportsbook, but you will also receive a $25 risk-free bet.

BetOnline is the best online racebook according to experts. The sign-up form is easy. You can claim BetOnline’s new player welcome bonus. It can earn you up to $1,000 in site credit and a $25 risk-free bet.

The best horse racing betting sites for US bettors are listed below.

Most horse racing bets are settled using the pari-mutuel payout system. Fixed horse race odds betting markets are available on big Triple Crown races. The guide explains the horse betting odds explained in detail. The prices are the same at each site. You can compare the odds at legit racebooks to find the best terms.