How to bet on horse racing in Canada

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Horse racing is one of the most common and popular sports betting markets available. Before you can place a bet, however, it’s important to fully understand horse racing terms and how you can bet.

Here is everything you need to know to bet on horse racing.

Triple Crown

The Triple Crown is the pinnacle of horse racing. It is a series of three horse races for three-year-old thoroughbreds, consisting of the Kentucky Derby, Preakness Stakes and Belmont Stakes. To win the Triple Crown, a horse must win all three races.

The Kentucky Derby has been held annually in Louisville, Kentucky on the first Saturday in May every year since 1875. It holds the distinction as the only Triple Crown race to be run uninterrupted since its inception.

The Preakness Stakes is known as the second jewel of the Triple Crown, first held in 1873. Held on the third Saturday in May, the Preakness runs from Pimlico Race Course in Baltimore, Maryland.

The Belmont Stakes is held five weeks after the Kentucky Derby and three weeks after the Preakness Stakes. It runs from Belmont Park in Elmont, New York and is the oldest Triple Crown race, first held in 1867.

There have been just 13 horses to win the Triple Crown, including the famed Secretariat in 1973. American Pharoah (2015) and Justify (2018) are the only living horses to have won the Triple Crown.

Traditional bets

There is more to betting on horse racing than simply picking which horse will win. Here are the most common horse racing terms and what they mean:

Win

This is pretty basic. It is a bet on which horse will finish first in the race and the bettor only wins if the horse finishes first.

Place

There is a little more leeway if you bet on a horse to place. The bettor wins if the horse finishes first or second.

Show

There is even more room for error if you bet a horse to show as you win the bet if the horse finishes in first, second, or third. The payout is lower, but it’s easier to win the bet.

Exacta

An exacta is a multi-horse bet. To win this bet you must correctly pick the horses that will finish in first and second place in the exact order. 

Ex: $2 exacta, horse 5 over 8. The 5-horse needs to finish first and the 8-horse needs to finish second.

Trifecta

The trifecta is the same idea as an exacta, but you are picking three horses instead of two. To win the bet, you need to pick the horses that finish first, second and third in the exact order they finish.

Ex: $2 trifecta, horse 5 over 8 over 9. The 5-horse needs to finish first, the 8-horse needs to finish second and the 9-horse needs to finish third to win the bet.

Superfecta

Looking for a bigger payout? Try a superfecta and predict the first four horses to finish in the exact order.

Super high five

High fives to the bettor who can win this type of wager by correctly predicting the first five horses to finish the race in exact order.

Horse racing tips and strategies

Know the horses. In high-stakes thoroughbred racing such as any of the Triple Crown races, you can learn just about everything about a horse from who their parents, grandparents and great-grandparents are, to how well they perform on different track conditions.

Understand the odds. Unlike most sports betting markets, horse racing uses fractional odds.

In the example above, Mage is 19-1 to win. The first number (19) represents your winnings and the second number (1) represents your wager. On a 19-1 horse like Mage, every $1 you bet earns $19.

Learn the different bets you can make. There’s more to betting than picking a single winner. Understanding the difference between terms like win, place and show is essential.

Don’t bet more than you can afford to lose. Longer odds mean a higher payout, but it also signals a harder bet to win. To keep horse racing fun, only bet what you are willing to lose.

You can visit Sports Interaction for a complete list of odds for the Kentucky Derby, Preakness Stakes, Belmont Stakes and more.

This article was written by Sports Interaction. Sports Interaction’s content provides information that helps readers navigate the new landscape of sports betting in Canada.

Please confirm the betting laws and regulations in your jurisdiction as they vary from province to province and country to country. The site is not associated with nor is it endorsed by any professional or collegiate league, association or team.

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