The “sport of kings” is steeped in tradition, but the modernization of betting has ushered in a new crop of fans and bettors who are looking to become horse racing betting experts. If you’re reading this page, there’s a good chance that you are looking for ways to engage and interact with horse racing betting sites. We can help.
With the Belmont Stakes on deck, there’s still never been a better time to register with an online horse racing betting site. Read our round-up of the best online horse racing betting sites available in your area.
Where to bet on horse racing
Not all sportsbooks offer horse racing odds. However, you can turn to several legal horse racing specialist betting sites to meet your needs. Here are the best Preakness Stakes betting sites available in your area:
- NYRA Bets
- 1/ST BET
Horse racing’s popularity in Canada — and subsequent revenues — have soared to historic highs in recent years. The industry accounts for 50,000 jobs and $5.7 billion (Woodbine Communications) in economic activity across Canada. We’ve identified the top betting sites for Canadians looking to place bets on the Preakness and upcoming races:
Our independent bookmaker reviews are designed to ensure that you're wagering at safe and legitimate UK online horse racing betting sites. Read our full reviews to become more informed and to start betting.
Types of horse racing for online betting
You need to know a little bit about how to bet on horse racing and its betting intricacies before you can get started. Good news: This is the best place to start. First, let’s take a look at the three major types of horse racing.
Surely even the uninitiated are familiar with the term thoroughbreds. The most common form of horse racing features jockeys astride of thoroughbreds running on flat surfaces. Thoroughbreds can run on dirt or grass tracks, with distances ranging from 5/8 of a mile to 1 1⁄2 miles, although there can occasionally be races both longer and shorter. The upcoming Preakness Stakes at Pimlico is a thoroughbred race run over a distance of 1 3⁄16 miles on dirt.
Jump racing, sometimes referred to as steeplechase or hunt racing, involves horses leaping over an obstacle one or multiple times during the race. This type of horse racing is generally contested at distances of two miles or longer.
This form of horse racing involves the horse pulling a two-wheeled vehicle called a bike or sulky. These rear-mounted bikes are steered by drivers. Most harness races take place on dirt tracks and are run over one mile. This is more common in North America, whereas in the UK and elsewhere they can be contested at longer distances.
Benefits of online horse racing betting
Those unable to attend the Preakness Stakes won’t miss a thing, aside from the fact that the Pimlico track’s infield is a giant party. Here are the advantages to leveraging online horse racing betting in your locale:
- Convenience: Avoid the crowds and lines and browse the odds from home.
- Security: We only recommend sites that offer top-notch security and encrypted links.
- Paperless: Pull up the racing form from the palm of your hand.
- Bonuses: Horse racing betting sites typically offer new customers a generous bonus.
Popular horse racing bet types
Pick the horse that you believe will win the race. If it does, congratulations, you’ve won your bet.
Your horse needs to finish in either first or second to collect on your winning wager.
Here, you'll make a wager on a horse to finish within one of the top three positions. If the horse you've selected finishes first, second, or third, you will win the bet.
Make your prediction as to which horse will finish in first place and which one will place second. You'll win the bet if they finish in that exact order.
For the trifecta, you’ll bet on the horses that you think will finish in the top three in that specific order.
The horse racing betting sites we highlighted earlier, along with any tied to the Preakness Stakes, will display their odds in American format. What does this mean? Let’s look at this recent example:
Kentucky Derby winner Medina Spirit is listed at +225 and Concert Tour sits at +1,000. In this instance, a $100 bet on Media Spirit would profit $225 if he wins, and a $100 bet on Concert Tour would profit $1,000 if he were to win.
Horse racing betting tips and trends
Preakness Stakes racing forms are easy and free to download. These racing programs are key to your horse betting strategy, because they contain statistics on the horses and their past performances, too.
Live betting and streaming
This fantastic feature allows you to back a horse in the middle of its race. Due to the fast-paced nature of horse racing, our recommendations for Preakness betting sites take into account high-quality functionality. Rooting for your horse in real-time with real money funds on the line is exhilarating.
Between betting too many races, not trusting your gut, and chasing losses, your once-promising Preakness horse racing betting strategy can get blown up in a hurry. Remember those bet types highlighted earlier? Stick to the one that you are most comfortable with playing or choose the one that has provided the biggest return on your investment. Don’t pull up lame.
If you have recently signed up and registered an account with an online horse racing betting site, you will likely receive a welcome or deposit bonus. More often than not, this comes in the form of a free bet.
Pro tip: Most horse race gambling sites require you to wager some of your own money before any winnings from the free bet can be collected.
Only the winnings from the bonus bets are returned to your account and you won’t recoup the free bet stake. Choose sports betting sites that treat these bonus bets and site credit like cash. Please read the fine print before claiming the offer.
Should Medina Spirit enter the Preakness Stakes and gallop its way to victory, they will be one win away from securing horse racing's vaunted Triple Crown. Keeping an eye on how the horse has performed in recent races can unlock the keys to your betting victory. Only 13 horses have won the Triple Crown, so stake that with a grain of salt.
Prolific trainer Bob Baffert recently secured a record seventh Kentucky Derby win. Betting against Baffert’s horses has proven to be difficult, but there are no guarantees in horse racing. Securing information on a horse’s lineage and connections must be considered before you make any wager with horse racing betting sites.
Getting started at horse racing betting sites
To bet on the Preakness or other horse races, U.S. bettors need to register with one of the horse racing betting sites highlighted earlier. Bettors in Canada and the UK can get started at an online sportsbook or bookmaker. Here’s what to expect when you are ready to wager.
Before you can bet the Preakness and other horse races online, you’ll have to create an account. Simply input basic personal information for verification, including your legal name and date of birth, then create a username and password.
You’ll have to top up your newly created account with real money funds before any horse racing gambling bets can be made. Online betting sites differ, but the majority offer several different types of banking methods. It all depends on the betting site and your location.
The best Preakness Stakes betting sites have been recommended to you, so there’s not much left to do other than to make your pick. Each of these betting sites makes it easy to find and lock in your preferred horse racing bet type.
How we rate horse racing betting sites
The Covers BetSmart System™ is our tried, tested, and true method for evaluating, reviewing, and recommending sports betting sites. Our comprehensive guides provide you and the Covers community with the most up-to-date and necessary information and analysis.
Bonuses and promotions
Increased competition among sports betting sites is a benefit to you, the user. We’ve handpicked the best horse race betting sites which will offer you perks ahead of the Preakness and other major horse races.
Banking and payout speed
Our recommendations are based on horse racing betting sites that offer you a generous selection of banking options, including the most popular ones in Canada, the U.S., and the UK. Securing your bets before post time and recouping your winnings post-race is key.
Each of the legal horse racing betting sites tipped earlier is mobile-friendly. Whether you're betting live from the Preakness Stakes or another horse race, you can rely on slick design and secure connectivity to lay down the action.
Security and trust
Every horse racing betting site should have state-of-the-art security measures enabled like SSL data encryption. These sites also hold legal operating licenses from registered authorities.
The horse racing betting sites we recommend generally offer 24/7 customer service help via live chat, email, and most feature dedicated phone numbers for your area. These well-established sites are well-equipped to solve any potential problems.
Big horse races to bet online
Our round-up of horse racing gambling sites provides you with access to horse racing betting markets from across the globe. We have targeted the most popular races to bet, including the upcoming Preakness Stakes.
American Triple Crown races
Kentucky Derby - 148th running
Date: Saturday, May 7, 2022
Location: Churchill Downs - Louisville, Kentucky
2021 winner: Medina Spirit
Preakness Stakes - 146th running
Date: Saturday, May 15, 2021
Location: Pimlico Race Course - Baltimore, Maryland
2021 winner: Rombauer
Belmont Stakes – 153rd running
Date: Saturday, June 5, 2021
Location: Belmont Park - Elmont, New York
2020 winner: Tiz the Law
Breeders' Cup World Championships
Date: November 5-6, 2021
Location: Del Mar - San Diego, California
2020 winner: Authentic
British Triple Crown races
2000 Guineas Stakes
Date: Saturday, 30 April 2022
Location: Rowley Mile Newmarket - Suffolk, England
2021 winner: Poetic Flare
Date: Saturday, 5 June 2021
Location: Epsom Downs Racecourse - Epsom, England
2020 winner: Serpentine
St. Leger Stakes
Date: 8-11 September 2021
Location: Doncaster Racecourse - Doncaster, England
2020 winner: Galileo Chrome
Bettor beware: Blacklisted betting sites
Our due diligence, coupled with negative customer experiences, has identified several sports betting sites worthy of the blacklist. The findings include payment delays, poor customer support, unfair bet grading, and other questionable tactics. We encourage you to avoid these blacklisted betting sites at all costs.
Why trust Covers?
Covers is the proven authority on betting information and statistical analysis, with more than 25 years of industry experience and counting. Our team of seasoned writers and analysts takes a step-by-step approach to the online betting process, providing our valuable community with comprehensive reviews, breaking news, and detailed information. Learn all about how we rate sports betting sites with our unique and trusted Covers BetSmart System™.
Instant Replay: Horse racing betting sites
Online betting sites for horse racing are a great resource for helping you place bets on races around the world, including the Preakness Stakes. Follow our advice for a seamless entry to the world of online horse racing gambling:
- Not every sportsbook or bookmaker offers horse racing odds, but legal horse racing betting sites do.
- Horse racing betting sites offer ultimate convenience.
- Set your bankroll and identify what you want from a Preakness Stakes bet.
Horse racing betting sites FAQs
What are the best rated online horse racing betting sites?
We endorse Twin Spires for U.S. bettors and bet365 for bettors in Canada and the UK.
Is horse racing fun to bet online?
Yes. The thrill of live streaming a horse race and cashing out your winnings is almost unrivaled. The social aspect should not be overlooked either, because hosting viewing parties and creating betting pools can ramp up the fun.
Do horse racing betting sites let you watch the race online?
Yes, horse racing betting sites that offer live streaming allow you to watch and wager straight from your mobile device.