Horse Racing Betting in Canada

Horse racing is one of the oldest sports that has been practised for thousands of years. It has a fan base in almost all countries in the world, including Canada. The media loves horse racing because of its attractiveness, so its popularity keeps growing each coming season.
Horse racing betting is also one of the most popular betting markets for players in Canada.

Horse racing action

Online sportsbooks that accept Canadian players have great coverage of this famous sport. You can place a variety of bets on different types of horse races, as well as a large number of high-profile tournaments and championships.

That’s why horse racing is included on our website as well. You can always check out our section dedicated to this sport to learn the most recent and most relevant information regarding this sport. Keep reading in order to find out some basic information about horse racing betting in Canada.

Top Canadian Sportsbooks for Horse Racing Betting

Since horse racing is very popular in Canada, there is a large number of Canadian sportsbooks that offer this type of betting to players. This is both a good and a bad thing. It’s good because the choice is huge, but it’s bad because it’s difficult to make the right one.

That’s why we’re here! We did the hard work for you and created a shortlist of the best sites to consider. Check them out!

Most Popular Horse Racing Betting Events in Canada

The most popular horse racing event that Canadian players love to bet on is the Canadian Triple Crown. It takes place every year and it’s made of three thoroughbred horse races. This horse racing event was established in 1959, which makes it one of the oldest of the kind in Canada.

The three races of the Canadian Triple Crown include the Queen’s Plate, the Prince of Wales Stakes, and the Breeder’s Stakes. The first takes place at the Polytrack in Toronto, the second is held at the Fort Erie Racetrack in Ontario, and the last one happens at the E. P. Taylor Turf Course in Woodbine.

However, other horse racing events from around the world are also popular in Canada. That’s the beauty of this sport, once you become involved in horse racing betting, there are interesting races to bet on literally every day of the year. The most famous tournaments in the world to be aware of include the Grand National, the Dubai World Cup, the Derby, the Cheltenham Festival, and so on.

Types of Bets in Horse Racing Betting

The reason why betting on horse racing is so universally popular around the world is due to the various types of bets that can be made. Sure, you can try to guess which horse will win the event, but you can bet on many other things as well.

Basically, there are two groups of bets in horse racing called straight wagers and exotic wagers.

Straight Wagers

These are the simplest bets you can make in horse racing betting and often the cheapest ones. They include:

  • Straight win — You bet that your horse will come first at the finish line.
  • Place only — You bet that your horse will finish the race either first or second. The odds for these bets are better compared to the Straight win, but the payouts are smaller.
  • Show bet — You bet that your horse will finish the race in the first, second, or third position. The payout is considerably smaller compared to the first two types.
  • Across the board — This bet combines the first three bets into one. This is an expensive bet, but the potential payout is higher.

Exotic Wagers

Exotic wagers are types of bets preferred by experienced horse racing bettors. They are generally more expensive than straight wagers and also harder to win. Therefore, they require more knowledge and more skill. The most popular ones are:

  • Exacta — You bet on two horses to finish in the first and second place in the exact order that you specify.
  • Quinella — You bet on two horses to finish in the first and second place in any order.
  • Trifecta — You bet that three horses of your choice will finish first, second, and third, in the exact order you specify.
  • Superfecta — This is one of the most expensive and the hardest bets in horse racing betting. If you win it, the payout might turn your life around. However, to win, you must guess which horses will finish first, second, third, and fourth in the exact order.

Horse Betting Odds 101

In order to successfully bet on horse racing, you need to know how to read the horse betting odds. This is not difficult, but it’s slightly different than in most other sports. Most of the times, horse betting odds are represented by fractional odds.

These use fractions, such as 2/1, and tell you how much you will profit, without including the original bet which you will get back as well. If you place a bet of $100 on odds of 2/1, you will get a profit of $200, plus get your original $100 stake back. This means betting on the underdog.

However, if the odds read 1/2, it means that the horse is one of the favorites. If you bet $100 on these odds, you will earn $50 in profits and get your original $100 back.

Sometimes, you will see abbreviations such as EVS, F, or JF next to certain bets. EVS stands for Evens, which means that the odds are 1/1. So, if you bet $100, you will profit $100. F stands for Favourite, which means that the horse is expected to win. If more than one horse has the same probability of winning, they will be marked with JF, which stands for Joint Favorite. This is a great time to try and win an exotic bet.