Horse racing betting guide 2022

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

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1
4.5 /5
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Excellent
C$200 Bonus
  • Check icon Win Rate: 100%
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Pros

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Cons

  • Check icon FAQs section is lacking

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2
4.1 /5
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Great
N/A Bonus
  • Check icon Games: 1,500+
  • Check icon Win Rate: 96.20%
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Pros

  • Check icon Mobile apps for Android and iOS
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Cons

  • Check icon Poor VIP program
  • Check icon Live chat only in English
  • Check icon Not many payment methods

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3
4.3 /5
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Great

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  • Check icon Win Rate: 97.17%
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Pros

  • Check icon Very modern sportsbook
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Cons

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4
4.2 /5
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Great
C$300 Bonus
  • Check icon Win Rate: 100%
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Pros

  • Check icon Large sports betting selection
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Cons

  • Check icon No live chat support

Payments

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5
4.1 /5
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Great
C$125 Bonus
  • Check icon Win Rate: 97.22%
  • Check icon Payout Speed: 3 days

Pros

  • Check icon Refer-a-friend bonus offer
  • Check icon Stylish sportsbook design
  • Check icon Separate racebook section

Cons

  • Check icon Few esports betting options

Payments

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6
3.8 /5
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Good
C$500 Bonus
  • Check icon Win Rate: 100%
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Pros

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Cons

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7
4.0 /5
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Great
C$300 Bonus
  • Check icon Win Rate: 100%
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Pros

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Cons

  • Check icon Limited VIP program

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8
3.9 /5
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Good
C$1,000 Bonus
  • Check icon Win Rate: 100%
  • Check icon Payout Speed: 5 days

Pros

  • Check icon Big variety of sports markets
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Cons

  • Check icon Slightly confusing sports page

Payments

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9
3.9 /5
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Good
C$200 Bonus
  • Check icon Win Rate: 100%
  • Check icon Payout Speed: 1-3 days

Pros

  • Check icon Multiple live betting options
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  • Check icon Quick payout times

Cons

  • Check icon Deposit & withdrawal fees
  • Check icon Customer support is not 24/7

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10
3.8 /5
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Cons

  • Check icon No horse racing betting

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More on horse racing betting

How to bet on horse racing

  1. Sign up and login to your chosen online casino account
  2. Head to the sports or separate ‘Racebook’ section
  3. You’ll find a list of meetings and races to pick from
  4. Most sportsbooks will show you the horses’ age and form etc
  5. Select a horse to add to your betslip
  6. Enter your stake and choose a bet such as win or each-way
  7. 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.

 

    Straight wagers

  • Win

    Win

    Betting that your chosen horse finishes first in a race.

  • Place

    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.

  • Show Bet

    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.

  • Across the board

    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.

  • Each-way

    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.

  • Exotic wagers

  • Exactor

    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.

  • Quinella

    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.

  • Triactor

    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.

  • Double

    Double

    Where you bet on two horses to win two different races.

  • Triple

    Triple

    Here, you bet on three horses to win three different races. This is also known as a Treble in the UK.

  • Multi

    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.

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

  • Breeders’ Cup

    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.

  • Cheltenham Gold Cup

    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.

  • Kentucky Derby

    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.

  • Melbourne Cup

    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.

  • Queen’s Plate

    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:

  • Welcome Bonus

    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
  • Enhanced Odds

    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
  • VIP Club

    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 mobile 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:

  • Security
    Security:

    Horse betting online needs to take place on sites where you believe everything is safe

  • Licensing
    Licensing:

    SSL encrypted sites that are certified and licensed are best, because you can bet with confidence

  • Bonuses
    Bonuses:

    Additional value on horse racing betting through bonuses makes bettors feel appreciated in this competitive market

  • Payments
    Payments:

    A wide range of payment methods for deposits to fund your gambling and withdrawal options for winnings is what to look for

  • Choice of bets
    Choice of bets:

    The best online horse betting sites offer you a great variety of wagers to choose from

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?