Orse racing is an ancient sport with a rich history dating back thousands of years. As long as horses are domesticated, folks have been rushing them. The tradition continues today, with important horse racing events held regularly around the world.
In the United States specifically, you can find horse racing tracks in the majority of states. And needless to say, where there is competition, there will be individuals gambling on the result. Up until recently, all horse racing betting took place at the monitor. The world wide web has changed everything and now people can just as easily put real money wagers online.
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One of the nice things about online horse racing is that you are able to bet on races that happen around the country. If you live on the West Coast and want to bet on a race that is taking place on the East Coast, there is no problem. Internet betting brings the action to you.
The best aspect of all is the fact that it’s all legal. Most states in the united states allow online horse race gambling. So provided that you do not reside in one of the few limited states, you are able to bet for your heart’s content. You may even see the races live on your personal computer and see how your stakes pan out in real time.
Of the racebook websites listed on the page, all function in compliance with the legislation in the USA. You do not need to see offshore betting sites to wager on horses. Sites we recommend are all licensed and controlled to do business in the US.
The Legality of Online Horse Racing
Online horse racing gambling is legal in most states at the United States. Horse and greyhound racing both received specific exemptions from anti-gambling prohibition which has been passed at the federal level in 2006.
A few states have opted from online horse betting, but most Americans are free to wager on horses they all want. You’re able to see the graph below for a list states that let online horse gambling, and those that DO NOT allow online wagering. If you live in one of those states, you are going to need to visit a track in person, or use an approved off track centre. Everybody else is welcome to join and wager at licensed and regulated online racebooks.
Why is online horse racing betting legal in the United States?
Online gambling law is murky and convoluted, but the general arrangement is that almost all forms of gambling, gambling and gambling are outlawed. The Wire Act of 1961 was used as the basis for anti-gambling enforcement, and the UIGEA of 2006 further strengthened that line of thought.
Horse racing particularly has receive two noteworthy exceptions in national law. First was that the Interstate Horseracing Act of 1978 (IHA). Although the IHA was written well before the advent of the world wide web, it has played an instrumental role in providing us legal online horse racing gambling today.
Simply speaking, the IHA made it legal to place interstate wagers on horse races as long as such betting is permitted in both countries. This piece of legislation is the reason off-track betting parlors (OTBs) situated in one state may take wagers on races taking place in another nation. Back when the IHA was composed, it was with OTBs in your mind.
Legislators updated the Interstate Horseracing Act in 2000 using a slight change to the definition of an”interstate off-track wager” to incorporate the words”or other digital media.” This opened the door for legal online horse racing betting.
The 2nd major exemption for horse racing came in 2006. That year, Congress passed the Unlawful Internet Gambling Enforcement Act (UIGEA) in a bid to crack down on illegal online gaming. The UIGEA basically made it illegal to allow banks and other financial issues to conduct business with offshore gambling sites. This didn’t technically make it illegal for citizens to place bets online, but it instead made it rather hard to transfer money to and from gambling sites.
However, horse and greyhound racing obtained specific exemptions from the UIGEA. It ended up being a bit of a controversy at the moment, but several senators managed to ensure carve-outs for racing gambling. This setup the framework for the system we have today: legal online horse betting.
The only catch is that the person states have been given the choice to”opt out” of online horse racing. Several nations took that route and the citizens of those states are not allowed to join or place wagers at horse gambling websites. The good thing is that only a few states decided to opt out.
The Way Horse Racing Betting Works
This is the primer guide for actually placing bets on horse races. The stakes outlined below can be put both in-person and on the internet. The best way to get started would be to try out a number of the basic bets . As you become comfortable with how it all works, you can progress up to more complex wagers.
Before we enter every type of wager, I’d like to offer you a general overview of how the gambling system functions with horses. Horse wagering is classified as a form of”parimutuel wagering.” This is a bit different than sports gambling, so read closely if you are new to horse betting.
In parimutuel betting, all bets on a particular race are pooled together. The racetrack subsequently sets aside a proportion of the pool to keep for its own income and operating expenses. This is known as the”vig.” This system makes sure that the racetrack earns its cash whatever the outcome.
The percentage taken out of the pool fluctuates depending on the track and variety of bet placed. Usually, you can expect to observe a vig of anywhere from 15% to 30 percent.
Following the vig is removed, the remaining portion of the cash in the pool is used to cover the winners out. The payouts at a horse race change constantly up before the beginning of the race. As new wagers are collected, the offered payouts change into account for the newest betting action.
That is why preferred horses offer lower premiums. More people have a tendency to wager on the favorite, therefore when the favorite wins, the section of the pool assigned to that horse needs to be divided among more people. If a longshot horse wins, there are inclined to be fewer people backing that horse, so each individual collects additional winnings.
Types of Bets
There are all types of different bets which can be placed on a single race. The general rule is the harder the bet will be to triumph, the greater it pays. For example, a right bet on a single horse to acquire pays pretty well, but a bet on exactly the finishing order of the top 3 horses pays much better.
Here are the most common Kinds of horse bets:
There are 3 distinct types of bets that are straight. These wagers are pretty simple and act as a good starting point for newbies.
Win: This is a bet on a single horse to take 1st Location Place: A wager on a single horse to take either 1st or 2nd Location Show: A wager on a single location to take 1st, 2nd or 3rd Location Exotic Bets
Exotic bets are more complex than straight bets. In an exotic bet, you create multiple selections which include more than one horse and maybe even more than 1 race.
Exacta: A bet on two horses to take 1st and 2nd location. Your horses must finish in that Specific order to win Quinella: A bet on two horses to take 1st and 2nd but the arrangement does not matter
Trifecta: A bet on three horses to take 1st, 2nd and 3rd place in that Specific sequence Superfecta: A wager on four horses to take 1st, 2nd, 3rd and 4th place in that exact order Daily Double: A bet in which you pick the 1st place finishers of two Distinct races
Select 3: A wager in which you pick the 1st place finishers of three successive races
Select 4: A wager in which you pick the 1st place finishers of four successive races. Boxing Horses
Boxing is useful when you understand that a few horses are solid favorites, but aren’t sure which order they will finish. You can”box” these horses to cover every possibility.
Quinella Box: You select three horses and you’ll win if any two of these horses finish in 1st and 2nd place. A quinella box horses #3, #4 and #5 will cover all probable outcomes: 3-4, 3-5, 4-3, 4-5, 5-3 and 5-4.
You can also box exactas, trifectas and superfectas in this manner.
It is possible to key horses whenever you’ve got a strong feeling that a horse will finish first but you aren’t as sure about the horses which can take 2nd and 3rd place. In other words, you have one”key” horse picked to win the race and a few other horses which will come in after that one.
So let’s say you make a $1 trifecta key of #1 on #2, #3 and #4. In this example, you need the #1 horse to win, and then some of the other three horses to finish in 2nd and 3rd place in no particular order.
Now you have a grip on the fundamentals of horse betting, you can apply that knowledge to betting online. In practice, it’s basically the same idea. The only difference is that rather than speaking to a cashier at the racetrack, you select your wagers onscreen with your mouse and keyboard.
1. Produce and Fund Your Betting Account
The very first thing you’ll need to do to wager on the internet is sign up for an account at an authorized horse racing website (see my three picks close to the top of the page). All you have to do is see the race betting site of your choice, click a few of the big”join now” buttons and complete the new account form. It needs to be quite self-explanatory.
The next step is to fund your accounts. You do this by logging into your account in your gambling site and then hitting the”deposit” link on your account area. If you’ve never created a deposit before, you’ll probably get a pop-up requesting you to deposit.
Then, you can Pick from a number of deposit methods:
Credit cards and debit cards
Check or money order
Green Dot Moneypak
Notice: The Green Dot Moneypak is a form of prepaid voucher that you are able to buy at stores like Wal Mart and Walgreens. You pay money for the Moneypak and then redeem that Moneypak online by typing in the unique number on the back of the card. Essentially, it’s a simple way to finance your account with money.
2. Place Your Bets
As soon as you have an account funded with money, you can start placing your wagers. Click on the”bet now” button and this will take you to an area that shows a listing of all of the monitors supported by your gambling site. Click the title of a monitor and you’ll see a listing of upcoming races along with also the horses competing in every race.
Every betting site does it somewhat differently but in general, you will find a display which allows you to select your wager amount, the sort of wager and the horses that are going to be competing. As you make your selections, you should observe a little slip that shows a list of your current bet. You will also have the option to box and key your horses in this moment.
When you think you’ve got your wager all setup, you will see a”verify” or”submit” button close to the wager summary box. Hit that button and then it will ask you one more time if you are sure this is your bet you would like to place. If everything looks good, click on the validate button and your bet will probably go live.
After you submit your wager, you can return and place more wagers, watch the race live on the site or go about your day as usual. The website will monitor your bet and pay out your winnings if applicable. If some of your wagers are winners, the betting site will instantly credit your account with the cash. You may then cash your winnings out or utilize them to place more wagers.
The best horse gambling sites compete heavily with one another for your business. They all know it will not take much effort at all for a client to switch to a rival. Thus, they all offer their own rewards programs and promotions in an effort to increase customer loyalty.
You won’t go wrong with some of the horse betting websites on this webpage, but you may want to check out their promotions to see which ones look the best for you. Here’s a look at what every betting site has to offer:
Right off the bat, BetAmerica gives all new clients a 100% match deposit bonus worth up to $300. This means that some amount you deposit will probably be accounted up to $300 in additional cash. The bonus cash is released at a rate equivalent to 10% of each bet you place at BetAmerica.
BetAmerica additionally allows players to create their own gaming tournaments. This is a unique idea in which you’ll be able to create your own handicapping tournament where you define the buyin, demanded bankroll, wager types, payouts and date. You may then invite your friends or let anyone connect. BetAmerica also chooses one tournament every week and promises at least $250 in prizes for free.
On selected”bonus tracks,” BetAmerica offers 3% cashback on all wagers, without the maximum cashback figures. You might even refer friends to BetAmerica and receive $50 if your friends register and make a deposit.
TwinSpires requires a slightly different approach with its promos. Instead of focusing on long-term promos that seldom change, TwinSpires always releases fresh, short-term promotions. All these promos revolve around specific betting events in which you can earn more loyalty points and get payout bonuses for placing bets on large racing events.
Player points are racked up at TwinSpires by placing wagers and participating in the regular promos mentioned above. You can redeem those points for wagering credits, presents from Brisnet.com and also for free entry to racetracks.
Furthermore, new customers are welcomed to TwinSpires using a $100 signup bonus. This bonus is given when you join, make an electronic banking deposit and wager at least $500 during your first month. Meet those requirements and you will get $100 added to your betting account.
TVG is a little weak on the promotions side, but it will offer a couple of perks to customers. All new players qualify for a $150 signup bonus that’s released in $50 increments right to the real money account. For the first three months, you will receive $50 added to your balance if you bet at least $250 in any specific month.
TVG also has an ongoing promotion where you get 1 point for every dollar wagered. As time passes, you may collect these points and will finally redeem them for cash rewards and Skymall present certificates. The rate of return is a little on the low side, however, it will come in handy after a few months of heavy gambling.
Major Horse Racing Events
People today gamble money on horses but a big portion of gambling action revolves around major horse racing events.
The Triple Crown
The Triple Crown of Thoroughbred Racing (Triple Crown for short) is a pair of three different races. This is the biggest racing event of them all and it’s restricted especially to 3-year-old horses. This makes it a once-in-a-lifetime event for each and every racehorse.
The pinnacle of horse racing glory would be to win all three occasions at the Triple Crown. It is exceedingly difficult to win a Triple Crown since every race is of a different length, and horses generally fare better in a certain lengths than at others. Add to that the fact that every horse just gets one chance ever to triumph, and you can imagine that it doesn’t happen often. In the United States, only 11 horses have earned Triple Crown glory.
And just to clarify a thing — the expression”Triple Crown” means different things in various nations. Every horse racing country has its Triple Crown series of occasions. Therefore, in the event that you overhear someone talking about the Triple Crown and they cite the Epsom Derby, this individual is talking about the UK’s version.
The three events that make up the Triple Crown at the USA are:
When: First Saturday in May
Where: Louisville, Kentucky
Length: 1.25 miles
The very first event in the series, the Kentucky Derby, is the single most celebrated event in all of horse racing. It’s held at Churchill Downs every year since 1875 and even non-horse racing enthusiasts dress up in flashy clothes and outlandish hats to observe. Even if you can’t make it to Churchill Downs, the odds are you can find a Kentucky Derby party in your city.
When: Third Saturday in May
Where: Baltimore, Maryland
Length: 9.5 furlongs (1 and 3/16ths miles)
Following the Kentucky Derby comes the Preakness. This one doesn’t draw much of a crowd because the Kentucky Derby, but it’s still a massive event in its own right. Additionally, this is where you’ll start to see some of the play that comes with the possibility of a Triple Crown. All eyes are on the winner of the Kentucky Derby.
After: Three months after the Preakness
Where: Elmont, New York
Length: 1.5 miles
And the last leg of the Triple Crown is that the Belmont Stakes. At 1.5 mph, this is the greatest race in the series. This one is run three weeks after the Preakness and positions somewhere in the top 5 in terms of attendance and viewership. However, this race becomes the largest of them all whenever there is a horse which has taken 1st at the Kentucky Derby and Preakness Stakes, providing a horse a shot at the coveted Triple Crown title.
The Kentucky Oaks is held on the Friday before the Kentucky Derby annually in the Exact Same racetrack in Louisville. The Kentucky Oaks is a very popular race that regularly attracts a crowd of 100,000. The winner has a $600,000 purse and the famous garland of lilies known as the Lilies for the Fillies.
The Breeders’ Cup is a set of 14 races held over a single weekend each November. This event is generally held at a different track in the USA annually. It’s one of the most-watched events in horse racing, with over $25,000,000 in prize money up for grabs.
The biggest event in the Breeders’ Cup is the Breeders’ Cup Classic, which will be a 1.25 mile race worth $5,000,000. The smallest event in this series is currently worth $500,000; each other event is worth $1 million or more.
The Travers Stakes is the oldest thoroughbred racing event in the United States and is now 1.25 miles in length. The race is open to 3-year-olds just and has a purse worth $1,000,000. Just 1 horse in background (Whirlaway in 1941) has taken the Triple Crown and the Travers Stakes.
Big Players in the Industry
This section will cover a number of the big players in the US horse racing industry. More importantly, we’ll go over some of the important betting websites and clarify how they all fit into the large picture.
TVG and Betfair
TVG is short for the”Television Games Network” and it’s a television network devoted solely to horse racing. It started broadcasting in 1999 and is now the largest horse racing network in the United States. TVG also eases offtrack betting via the world wide web, telephone and sometimes even through boxtop sets on your television.
The television part of TVG displays live horse races, investigations, gaming tips along with other applications that cover the wide subject of horse racing. TVG also functions a US-based site that it is possible to visit to see live races and place wagers in your own computer.
In 2009, TVG was bought by Betfair, a UK-based betting site founded in 2004. Betfair is famous for its exchange-style betting system in which people can buy and sell”shares” in places on sports bets. This way, betting at Betfair is similar to trading choices.
Betfair doesn’t do business with clients in the USA, but it keeps TVG alive as a separate entity. You probably won’t find any references to Betfair if you visit TVG, but Betfair does own the provider.
TwinSpires is a US-based horse betting website owned and operated by Churchill Downs. TwinSpires is open to clients in the USA and supplies betting options on tracks around the country. It is a free-to-use service which supplies a vast selection of wagers, live races and signup bonuses to get new clients.
TwinSpires is among the biggest horse racing gambling sites and includes a clean track record. In case you decide to bet here, you’ll be in great hands. The company is licensed to accept and handle real money betting in the US.
BetAmerica.com is the youngest horse racing wager site but it has grown quickly and now functions as a substantial player in the online betting market. BetAmerica is accredited by the North Dakota Racing Commission and accepts wagers from clients in many US states.
Similar to the other race betting sites on this webpage, BetAmerica offers a variety of racing wagers, live streaming video and simulcast options for all members at no cost. Why is BetAmerica unique is that it provides online greyhound betting in addition to its own horse racing options.
Online Horse Racing Gambling in a Declining Industry
Major horse racing events draw impressive crowds to the day, however, the sport as a whole has experienced a gradual, steady decline over the past few decades. Betting handle is down significantly since the 1970s and many horse racing tracks are suffering financially.
You can point to a variety of reasons for the decrease. Americans have more gaming options, other sports have increased in popularity, it’s easier to sit and watch TV and so on. Today, you can find the public to tune into the Kentucky Derby, but other races are generally the domain of serious horse racing fans.
Racetracks first looked into adding other gambling games to their assumptions as a way to bump up earnings. We can see this with state legislatures finally opening into the idea of all ontrack slot machines. The paths which have managed to add slots have benefitted greatly from the new earnings.
Likewise, monitors are based increasingly more on off-track gambling — specifically online betting. The horse racing industry still retains considerable clout in politics, and that’s probably 1 reason why horse racing received a carve-out in the UIGEA at 2006.
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