Horse racing is one of the most popular sports to bet on in the world with billions of dollars being wagered around the globe every year. In Canada, you can bet on horses online at many of the sportsbooks that are available to bettors.
As we sit here in March 2020, horse racing betting is set to explode as the COVID-19 virus has suspended most other sports around the world. Horse racing, however, is still happening in many countries with races running behind closed doors at select tracks. This creates a solid betting option for Canadians at a time when there simply isn't much to wager on. With all that being said, we realize that you might be looking for an online racebook so we've compiled some of our favourites.
Best horse racing sites in Canada
As Canadians, we are lucky to have plenty of solid options for betting on horses online. That being said, you don't want to deposit your hard-earned money at just any betting site. We at Covers have carefully vetted dozens of horse racing sites and come up with our Top 5 options for you.
| Best Horse Racing Sites in Canada | Sign-Up Bonus | |
|---|---|---|
| 1. Betway | 100% up to $200 | Sign up now |
| 2. Bet365 | Up to $200 in bet credits | Sign up now |
| 3. Sports Interaction (SIA) | 100% up to $200 | Sign up now |
| 4. William Hill | Up to $250 in free bets | Sign up now |
| 5. 888 Sport | 100% up to $200 | Sign up now |
How to choose a horse racing betting site
There are a few things you'll want to look at when choosing an online racebook. Keep in mind that many of the factors below went into our consideration when creating our Top 5 Canadian online horse racing rankings above.
Best odds
This is a no-brainer when choosing an online horse racing site so make sure you shop around and compare odds before making your choice. You might also want to look for odds boosts available at certain sites.
Types of bets
You'll want to ensure that the types of horse racing wagers that you want are available at the site you choose. Read more about how to bet on horse racing below.
Live streaming
Many online sportsbooks offer live streaming for horse races, either through video or audio, if a bettor has placed a wager (usually a small amount) on a particular race. This is a great option that makes betting on the races much more fun.
Sign-up bonus
Taking advantage of sign-up bonuses can be a nice way to boost your bankroll. Be sure to check out the terms and conditions of the bonus, however, before making your choice.
Security
Much like sportsbooks, you need to know your money is safe when you deposit at an online racebook. We believe that all of the above sites are safe and secure.
How to bet on horse racing online
There are many different ways to bet on horses, both online and in-person. We'll go over a few of the main types of horse racing wagers available to bettors.
Win
This is as straight forward as it comes as you're simply betting on your horse to finish first.
Place
A bet on your horse to finish first or second. Odds will be shorter than in a Win bet.
Show Bet
A bet on your horse to finish first, second, or third. Again, odds will be shorter than a Win bet and a Place bet.
Across the Board
A bet on your horse to Win, Place, and Show. This is three bets in one, so it's more expensive than one of the three bets listed above, but the potential payout is much higher.
Each Way
This is two bets in one, where half of your stake goes to your horse to Win and half of your stake goes on your horse to Place in a position determined by the online racebook. Be sure to check the conditions of your site's Each Way rules before making a wager as they do vary from racebook to racebook.
Exactor/Exacta/Forecast
A bet on two horses to finish exactly first and second in the same race.
Quinella
Much like an Exactor but this is a bet on two horses to finish first and second in any order.
Triactor/Trifecta/Tricast
A bet on three horses to finish exactly first, second, and third in the same race.
Double
A bet on two horses to finish first in two different races.
Triple/Treble
A bet on three horses to finish first in three different races.
Multi/Acca
A bet on multiple (four or more) horses to finish first in multiple races.
Finding value in horse racing
Much like when betting on sports, finding value when betting on horses is a strategy that many employ. Learn more about finding value in horse racing odds in our How to Bet section.
Horse racing betting in Canada
Horse racing is very popular in Canada, both among casual fans and bettors. There is a Canadian version of the Triple Crown which features three of the most popular horse races in the country: the Queen's Plate (Woodbine in Toronto), the Prince of Wales Stakes (Fort Erie Racetrack in Ontario), and the Breeder's Stakes (Woodbine in Toronto). The races take place between June and August and all three are televised on TSN.
However, one of the best things about betting on horses online is that you can bet on races from all over the world. This means that Canadians not only have markets on the biggest horse races around the world but also smaller daily races. The sheer volume of races available from countries all over the world is one of the reasons why betting on horse racing is so attractive to bettors.
