Horse racing betting and odds

Discover the latest horse racing odds at Betway. Place your bets on your favorite horse to win across a range of markets with live horse racing betting odds online. Stay in the running with the Betway Sports app and hit your stride as you keep up with the top racing events of the season, including Cheltenham Festival betting. 

For more expert insights, head to our horse racing blog for the latest tips and news. Stay close to the action with Betway. 

How to read horse racing odds

In Canada, horse racing odds are typically shown using the decimal format, which shows how much you could win from a successful bet (depending on you wager). 

With decimal odds, the number represents your winnings if you wager $1. So, for instance, if you chose a winning bet at odds of 7.0, and wagered $1, you’d win $7: this is made of $6 in prize, plus your $1 stake. Similarly, if you place a $10 bet, you’d return $70 in total, including your $10 stake.

Find out more about how betting odds work and how to read them with our helpful guide.

Common horse racing bet types

Like most sports, there are plenty of ways to bet on horse racing. This keeps things exciting for you as a bettor, with multiple ways for you to join in with the action! Brush up on the most common horse racing betting tactics by reading the sections below.

Win

A straightforward bet where you bet on the horse you think will finish first. This type of bet is preferred by many types of punters, especially beginners due to its simple nature. Payouts are also simpler due to them being solely based on the odds for a specific horse.

Each way

Each way bets give you a better chance of success by betting on your horse winning or finishing in the top positions. This is because you are making two bets in one, increasing the chances of making returns. If the horse wins you will receive both the win and place portions, whereas if the horse only places, it means you will lose the win portion.

The payout for placing is calculated at a fraction of the win odds such as 1/4 or 1/5 of the win odds.

Place

With a place bet, you’ll bet that your horse will finish among the top positions, but it doesn’t have to win.  It offers lower payouts than a win bet but will payout if your horse finishes in the top two, three or four.

How to choose a horse to bet on

When you back (bet on) a horse, there are various ways to weigh up your options. You can look at the horse racing betting odds to determine your chances of winning, or you can combine this with reading the horse’s form (its previous results and records) to assess their recent performance. 

You can also consider expert tips from trustworthy sources to help inform your decision. Our complete guide dives into everything you need to know about how to bet on horse racing to help you get started.

Can I use the Betway app to place horse racing bets?

Absolutely! Stay ahead of every race with the Betway Sports app! Download it now from the Play Store or the App Store and enjoy live horse racing betting odds, real-time updates, and exclusive offers right at your fingertips.