Check out CanadaSportsBetting’s guide to the best horse racing betting odds. Here we lay out the different types of horse racing bets, and where you can find the best odds. As the odds for horse races come in, we will keep this table updated.
Our Horse Racing Odds are built to display the best horse racing betting odds for the most important horse racing events throughout the year
List of Horse Racing betting resources
Queen’s Plate Stakes
Prince of Wales Stakes
Pegasus World Cup
Northern Dancer Turf
Ricoh Woodbine Mile
Saratoga Springs Betting
EP Taylor Stakes
Run annually in June exactly three weeks following the Preakness Stakes and five weeks after the Kentucky Derby, the Grade 1 Belmont is the oldest and longest of the three races.
The $1,000,0000 Grade I (Can) Queen’s Plate is the preeminent thoroughbred horse race in Canada, and the first jewel of the Canadian Triple Crown.
For three-year-olds and up, foaled in Canada, the race is run at the classic distance of 1 ¼ miles on the polytrack at Woodbine and is limited to 17 starters.
The Prince of Wales Stakes, the second jewel in the Canadian Thoroughbred Triple Crown is a $500,000 Grade I (Can) race, going 1 3/16 miles over the dirt course at Fort Erie Racetrack.
Although first run in 1929, the race was not run every year, until it became a permanent feature of the Canadian stakes calendar in 1947.
Held every August on Woodbine’s EP Taylor Turf course, the $500,000 Grade I (Can) Breeders’ Stakes is the third jewel of the Canadian Triple Crown for three-year-old Canadian-bred thoroughbreds.
As the finale to the series, it also holds the distinction of the winner possibly making history as a Triple Crown champion.
The Breeders' Cup is a world championship event unlike any in sport.
Conceived in the early 80's with the idea of crowning true thoroughbred champions in each division of racing, the inaugural Breeders' Cup was hosted in 1984 at Hollywood Park in Los Angeles.
The first edition of the Kentucky Derby was in 1875.
Annually, twenty horses race for the crown and the purse reaches US$ 3 million. Almost 160 thousand people attend the Churchill Downs race track to enjoy live the amusement and adrenaline.
The first running of the Pegasus World Cup was in 2017. Annually it happens at the Gulfstream Park in Hallandale Beach, Florida.
The Preakness Stakes is run annually at Pimlico Race Course in Baltimore, MD and is considered an American "classic" as the second jewel of the famed Triple Crown series.
Usually held in the third week of July at Woodbine, the Northern Dancer Turf Stakes is a $750,000 Grade I race, for 3-year-olds and up.
Run at a distance of 1 ½ miles on the EP Taylor Turf course, it was first held in 1953 at Fort Erie racetrack as the Niagara Handicap (at 1 1/16 miles on the dirt) before moving to Woodbine.
The Ricoh Woodbine Mile is a $1,000,000 Grade 1 race for three-year-olds and up held each September on the EP Taylor Turf course at Woodbine.
The first race was held in 1988 as the Molson Export Challenge run at 1 ¼ miles and was originally restricted to three-year-olds.
The Fort Erie Race Track & Slots wagering destination is located in Fort Erie, Ontario, Canada.
Home to the Prince of Wales Stakes since 1929, one of the three jewels in the Canadian Triple Crown, this major stakes race is the brainchild of former Fort Erie owner, E. P. Taylor.
The EP Taylor Stakes is one of the highlights of the fall racing season at Woodbine. A 1 ¼ mile test for fillies and mares, the EP Taylor is a Grade I event over the turf for a purse of $1,000,000.
The race is run on the same day as the $1,500,000 Grade I Canadian International Stakes, making it one of the most significant race days of the season anywhere in the world.
Known simply as "the race that stops a nation," the Melbourne Cup is a cultural and historical phenomenon in Australia. Run since 1861, the Melbourne Cup is a two-mile handicap race, and one of the richest turf races anywhere in the world.
Just 30 minutes west of Toronto, the Woodbine complex is the only venue in North America capable of staging flat and buggy racing action on the same day.
Providers of top-notch Off Track Wagering and Casino, betting fans get it all with a visit to Woodbine.
Now into their second century of horse racing, the Fort Erie Race Track & Slots wagering destination is owned and operated by the Fort Erie Live Racing Consortium and located in Fort Erie, Ontario, Canada.
Home to the Prince of Wales Stakes since 1929, one of the three jewels in the Canadian Triple Crown.
Located in Sunbury-on-Thames, Surrey, Kempton Park Racecourse is a British racing venue featuring flat and national hunt style courses.
Since 2006, flat racing has been conducted over a synthetic racing surface with national hunt racing the primary draw.
Golden Gate Fields Race Track Belmont Stakes Run annually in June exactly three weeks following the Preakness Stakes and five weeks after the Kentucky Derby, the Grade 1 Belmont is the oldest and longest of the three races.
The only major thoroughbred venue in Northern California is owned and operated by The Stronach Group, which also controls Santa Anita Park, Gulfstream Park, and Pimlico, among other locations.
Open since 1941, the San Francisco-adjacent track has seen the likes of Citation, John Henry, and Shared Belief grace its grounds. Currently, a turf course sits inside of a mile-long Tapeta synthetic surface that was installed in 2007.
BET365 Horse Racing Betting
Types of Horse Bets
Horse Racing Betting Sites
Betting is always about getting the best value for your wagering dollar. Some online racebooks claim to offer golden opportunities but how do you really know if you're getting a good deal?
With so many different types of horse wagers, bettors are more apt to succeed once they find a comfort zone. Successful players must understand the intricacies of each bet and finding a wager that is commensurate with their bankroll.
Canadian horse players are fortunate to have an array of viable racebooks to suit their online wagering needs.
Canadian horse racing offers some of the best betting opportunities in the world. With Woodbine firmly entrenched as the hub of thoroughbred and standardbred action in the Great White North, the racing days are plentiful and include high-profile stakes events sprinkled throughout the season.
Unlike most sports, where you potentially have to wait days or even weeks before betting on an event, horse racing provides quality betting opportunities every day of the year. How do horse racing odds work?
The marquee races throughout the calendar year include the Kentucky Derby, the American and Canadian versions of the Triple Crown, the Grand National, and the Breeders’ Cup World Championships.
If your interests lie on a more global scale, do not worry – our betting partners offer odds beyond just North America or Europe. Exotic locations such as Asia (Singapore, India, Japan, etc.) and South Africa offer betting opportunities as well.
This means that you can wager on horse racing around the globe and around the clock. Check out tonight’s horse racing fixtures to see for yourself.
Our partners provide only the best odds and the most lucrative offers for handicappers and punters alike. No matter what major horse racing event you wish to wager on, our partners have you covered. You can even choose to bet on a single race or as part of an accumulated ticket.
Betting on horse racing can be as simple as picking the winner of a single race, or as in-depth as picking the fourth-place finisher or a string of winners, and everything in between. These types of more complicated bets are called Each Ways and can be found with Canada Sports Betting.
Race favorites are pre-determined by expert bookmakers who use historical data, trends, and pedigrees to place horses based on how the bookmakers expect bettors to play. The odds fluctuate up until the moment the gates spring loose. Horse racing is the most free-economy of any sport for wagering purposes.
Sharp punters do not automatically assume that the favorites will win each and every time. In fact, the generally held belief throughout the industry is that the betting favorite at post time only wins roughly 1 of every 3 evens.
To truly profit in the long term, the best bettors are able to key on longshots at the right time, such as when Country House won the 2019 Kentucky Derby at 65/1 odds. You can access Our Horse Racing Guide to help steer you in the right direction.
Understanding Betting Options
Picking a horse to win is a simple concept that even the most novice of bettors understands, but what about other bets, collectively called Each Way bets? Our Horse Racing Glossary has all of the information you need, but here are some highlights:
Placemeans you are betting a horse to finish either first or second. This is considered a safer bet than Win because the horse racing payout is the same whether the horse wins or comes up just short. However, because it is a safer bet, the payout is almost never as high as that of a Win bet.
Show means you are betting a horse to finish first, second, or third. This is considered one of the safest bets that can be placed because the payout is the same as long as the horse finishes in the top three. However, because it is one of the safest bets that can be placed, the payouts are often among the lowest for each race.
Exactas, trifectas, and superfectas are bets that allow punters to correctly predict the top two, three, or four finishers in order. Other betting options include multi-race sequences (such as Daily Doubles, Pick 3s, Pick 4s, and so on) that allow parlay-style payouts for bettors who correctly guess the winners in a series of races.
Fixed Odds Betting
Some jurisdictions and partners offer fixed odds betting, meaning that the price you bet in any particular moment is the price that you receive upon payout for winning tickets. In these cases, the final odds from a pari-mutuel perspective can vary greatly from what bettors may have been offered on a horse racing fixed odds level.
With fixed odds betting, bettors take a specific price or betting odds at the time that the bet is made. For example, a 5/1 price on a horse is what you will receive as the payout, even if the horse wins with a payout that is above or below that number.
HORSE RACING IN VEGAS
Las Vegas, Nevada, is the gambling mecca of North America. This desert oasis is the hub for all things related to betting on sports, and when it comes to horse racing, the locale known as “Sin City,” reigns supreme.
The National Thoroughbred Racing Association (NTRA) hosts an annual National Handicapping Championship for the best punters from around the world, and the event is held in Las Vegas.
Whenever you see the term “Vegas Odds” for horse racing, know that these are considered to be among the truest odds available. Vegas odds is just a synonym for odds.
HOW TO GET THE MOST OUT OF HORSE RACING ODDS?
Sharp punters know that finding the best sportsbook is just as important as finding a winner. Several factors play into a decision as important as selecting the proper wagering location.
Depending on the bookmaker, bettors are offered welcome bonuses to entice their money. Special promotions are also used to keep bettors coming back for more, so those should be taken under consideration as well.
Different bookmakers offer varying selections and odds, so comparing the menus before placing bets is an important practice. Searching among the vast array of mobile sites should also be a regular venture. Our top betting strategies for horse racing will help you as part of your plays.
The top bettors understand that welcome bonuses can be great ways to bolster their bankrolls, and so should you. Understanding detailed bonus terms, such as rollovers and time limits, can be complex, but those who are in the know are those who are in the black.
Each bookmaker offers a welcome bonus, and as such, each bookmaker’s terms and conditions vary by the site. Check with the bookmaker of your choosing for more details and to know if the welcome bonus can be applied to horse racing events, or if they must be used elsewhere. The same applies to deposits and how much (if any) money you must deposit and/or play before the bonus is made available.
Our partners, such as Spin Palace Sports, offer the best bonuses from around the internet. As an added bonus to you, the bonuses from each partner can be collected – no having to choose just one! Do not miss the Spin Palace Sports review.
Which Sportsbook has the highest Horse racing odds?
Canada Sports Betting offers dozens of partners, all vetted and approved to give the best to our customers. What’s more, each partner offers odds for horse racing.
It’s important that bettors compare the odds at individual sportsbooks with every other option. Whether accessing multiple sportsbooks on their own, or by checking today’s odds from our odds widget (which shows odds from multiple sportsbooks on a side-by-side basis), practicing this type of wagering is imperative to long term success.
This practice isn’t only best used just for horse racing odds. This same idea applies for pre-match odds, live betting odds, and futures wagers. Just like when you are looking for the best gifts to give, it is a good idea to shop around for the top options.
Timely Horse Racing Odds
We partner with the best bookmakers so that our customers can best enjoy their betting experiences. Each bookmaker presented can be viewed at the same time, so long as multiple pages are opened at the same time.
It is important to know which bookmakers are the best at posting odds first, especially if bettors are in search of fixed odds selections. Our partners provide odds before anyone else does, along with giving customers the easiest deposit methods, the quickest payouts, and the best customer service.
Their experienced teams of representatives are willing to offer better ways to understand and explain their services than what other companies can do.
What’s The Best Mobile Experience For Horse Race Betting?
The best desktop and mobile experiences can differ by platform. Bettors should keep several factors in mind when it comes to a mobile gambling experience.
Faster bet selection is key. Busy dropdown menus that require multiple swipes and tap are annoying. The best apps offer the ability to just look, tap, and swipe without needing a betting dictionary to place your winning wagers.
Several mobile apps also offer the ability to live stream the races while handicapping and betting without ever changing screens. These apps allow bettors to tap the track and race numbers while navigating the available offerings at that moment in time. Do it all on one screen without missing a thing.
Check out Bet99 Canada for more information on desktop and mobile application platforms.
Ready to Place Bets
Researching the horse races is a major part of betting. Utilizing past performances is often the perfect opportunity to improve one’s chances of winning. Past performances help bettors make smarter wagers and Canada Sports Betting makes it easy by offering the best resources for Canadian horse racing bettors.
Those wanting to make the best bets should know on who and what to bet on any given day. These handicapping services are here for you to make the best-informed decisions with your money. You can learn more about each type of service is like on its own separate page.
Many sites claim that they offer the internet’s best odds, but only here will you find the top free horse racing picks. We partner with the premier destination sites for all things horse racing. In addition to providing the best betting odds around, our partners also offer articles, breaking news, track reports, betting tips, and more.
As soon as you make your first wager, you are off and running to what will hopefully become major profits. You are now ready to place your bets.
Offtrack betting in Canada is a great option. Racetracks are often so far away, or even in other countries, that going to the racetrack to place a bet just does not make sense.
There are lots of other benefits to placing your bets at online racebooks. They tend to have the best horse racing betting odds. This is because they have to compete with one another in a fiercer market where the bettor has many options. If you go to the track, you essentially have just one choice, and you have to accept what they serve up.
However, with off-track betting, you can freely compare odds across top racebooks, guaranteeing that you get the best value around!
Horse Racing betting odds FAQ
What are the different types of bets?
There are various types of betting types available to fans of the King of Sports when they look to place a bet. Some of the main bets are simply Win, Place, and Each Way, while there are numerous other more special bets.
For example, in Kentucky Derby betting last year the most popular bet was a To Win bet. The more exotic type of bets are Quiniela, Exacta, Trifecta, First 4, Daily Double and Running Double. These types of bets are slightly more technical, but also worth a punt as a horse-racing fan.
How can I find the best betting odds?
Finding the best odds is about finding value in the stake you place, ensuring you maximize your opportunity to win before placing the bet.
This is achieved by looking across the various sportsbooks and looking at the market bettors want to play on. Shop around, don’t just stick to the first odds you find. Most venues will be pretty similar in what they have to offer, but not identical – there is almost always a relative edge available to the diligent.
Why are odds levels important?
In horse race betting the level of the odds are always a great indicator as to how the wager will play out. If the heavily favour one team or individual, it’s highly likely they would win.
Bettors should look for odds levels as close to 100% as possible, this way the bettor will get as much money back for the initial bet placed as possible.
Can I hope for good bonuses when it is not peak season?
There are lots of good bonuses available year-round, but it’s really down to the sportsbook provider as things change from one to the next.
Online sportsbooks will always try to entice their users during peak race season, so it’s important to take things with perspective when navigating the various sportsbooks.
Major online sportsbooks will offer almost daily promotions during peak season.
What is a length, and what is a hand?
There is a long-list of terminology related to horse racing, too long to put here. Though two of the main terms you’ll hear are “length” and “hand”.
A hand measures equal to four inches and is used to measure the height of a horse. The measurement begins at the ground and spans to as high as the shoulder of the animal.
The Length is simply used as a general unit of measurement, which is approximately equal to 8 feet. It’s not a measurement used for one individual horse or a standardized size for racehorses, but a measure used to describe the length between horses. So you’ll often hear commentators discussing the distance between two runners using this term.
Can you watch and listen to races online?
There are a number of horse-racing providers that offer live viewing of races for events across the globe. While this isn’t the case for all sportsbooks, it’s something we expect to see more of in the coming years.
Many online sportsbooks are exploring hosting all sports racing events through one package, though this is far from being confirmed. For those that are hungry to see all the races as they happen, there are various sites dedicated to showing the races.
What are the Maximum and Minimum bet limits?
This is a common question among betters, especially with new customers. Though it’s not an easy one to answer. The limits vary so much from one sportsbook to the next, it’s hard to give even a general amount.
The minimum and maximum bets limit from track to track, with differing limits based on the bet type and race type. It’s worth exploring the limits before placing a wager or signing up with a particular sportsbook.
Is horse race betting legal?
Horse race betting has been legal for many years now, with a huge industry built around the sport on a global scale. There is a multitude of horse race betting sites for customers to choose from; but which is the best? Well, it’s difficult to say, but make to sign up to a recommended horse racing book so as to ensure the bets are legal and legitimate.
Is horse race betting profitable?
Horse racing can be highly profitable like any wager placed if the player is trying to maximize the value of their stake they will be in with a chance of winning big.
It can be profitable for some and others aren’t so lucky. But the outcome of a wager is often down to how well prepared the bettor was beforehand. Exploring the race, horse and rider are all important factors when placing a bet, not to mention the venue, turf, and many more things! The purists will know it all.
As always, playing responsibly is key. Betting can be a nice way to pull in supplemental revenue when a good system mixes with great fortune, but it also lacks guarantees. Set limits on yourself and don’t bet outside of your means.
What is the best bet in horse racing?
The best bet in horse racing really depends on the type of race being run, the horses involved and the depth of knowledge of the bettor. It’s important to try to find the most value as possible in the market. For the majority of people, simply following the odds and choosing a Win, Place or Each Way wager are the best options for new customers.
Whereas, an experienced horse race bettor will be able to make a far more cultured bet. For example, an avid horse race fan at the Queens Plate Stakes would be able to wager on a more complex wager, such as a Quiniela, Exacta, Trifecta, First 4, Daily Double and Running Double.