Horse racing is one of the oldest sports in the world, and for a long time, was the only legal sports betting option in many US states. As the sport’s popularity endures throughout the 21st century, we have created a guide to the history of equestrian racing and the current US betting market.
History of Horse Racing in the USA
Horse racing can be traced back to around 1,000 B.C.E. In ancient Greece, the sport involved horses pulling chariots and carts. Over the centuries, the sport spread throughout the continent, with records showing that both ancient Egyptians and Romans held similar popular cart-drawn racing events.
At the third Olympic games in 664 B.C.E., horse running evolved to become a competition, with jockeys steering the horses on horseback. The sport continued through until the Roman occupation of Britain. In 17th century England, thoroughbred racing flourished, and in the following century, racecourses exploded in popularity, generating thousands of English and Irish horse racing fans.
Over the next two centuries, the horse racing sport became synonymous with gambling, and more attention was given to selectively breeding champion horses. In the wake of the American civil war, equestrian sports gained traction across the nation, and by the late 1800s there were hundreds of racetracks operating in the USA.
Although the early 1900s saw the industry almost wiped out due to gambling opposition, many states gradually legalized pari-mutuel wagering on horse racing in exchange for a cut of revenues. In most states, horse race betting is the oldest legal form of gambling. and there remains a thriving thoroughbred breeding industry.
The Modern Thoroughbred Racing Industry
While the equestrian sport long dominated the gambling market throughout the USA, Arabian horse racing and quarter horse racing has gradually declined in popularity over the last few decades. That said, there are still several major global equestrian racing events that attract amateur and professional bettor attention every year. In the USA, the sport is overlooked by the National Thoroughbred Racing Association.
There are now just over 100 horse racing tracks in the USA that are estimated to clear over $3 billion in revenues each year. Roughly $11 billion is bet on horse racing sports every year, and this number is slowly growing as online sports betting becomes more widespread.
Most Popular Horse Races in the World
Eqyes isn’t just popular in the USA. In countries such as the UK and Australia, there are several major annual horse races that attract huge fanfare in the public. Whether as major spectator events, gambling opportunities, or both, the following are some of the largest and most popular equestrian races in the world.
The Kentucky Derby
Held every May at the Churchill Downs racetrack in Louisville, Kentucky, the Kentucky Derby is one of the oldest and most prestigious races in the world. The “Run for the Roses” takes place on a 1.25 mile long dirt track and offers a huge prize of $3 million.
The Preakness Stakes
The Preakness Stakes takes place every May at Pimlico Racecourse in Baltimore, Maryland, and is the second race after the Kentucky Derby in the Triple Crown. The race is roughly 1.2 miles long and is held on a dirt track. The prize is $1 million and is one of the most watched races in the USA.
The Melbourne Cup
Described as “the Race that Stops a Nation,” the Melbourne Cup is held every November at Flemington Racecourse, Melbourne. The race is a challenging two miles long and is run on a turf track. The race offers a staggering $8 million prize and regularly attracts the most famous racehorses and jockeys.
The Grand National
The Grand National is held every year in early April at Aintree Racecourse in Liverpool, England. Run since 1839, it is seen as an extremely prestigious and historical event throughout the UK and frequently draws royal spectators. A steeplechase held on a turf track over four miles, there is a prize of $1 million.
The Dubai Cup
The Dubai World Cup is held in March at the Meydan Racecourse in Dubai, United Arab Emirates. Despite only being held since 1996, the race has earned a reputation for its elegance. The race is 1.25 miles long and held on a dirt track. With a huge prize of $12 million, it is the richest race in the world.
Types of Thoroughbred Races
Whether you’re interested in spectating equestrian sport or looking to make a bet, it’s essential to understand the differences in attracts horse racing events if you’re to properly enjoy them. In this section, we’ve explained the two major horse racing types as well as some common event types you’re bound to see.
Flat Racing
Flat races are races that are run without any obstacles and can be anywhere between five furlongs and two miles long. These can be held on dirt tracks, turf, or grass, and tend to be the most popular forms of races to bet on.
Jump Racing
Jump races, national hunt racing, or steeplechase races, are an equestrian sport that include obstacles. These can be either hurdles or fences. These tend to be anywhere between two to four miles long. As jump racing can result in more injuries for horses and jockeys, some states and countries have outlawed them entirely.
The following is a list of some common horse racing sport types:
- Baby race: a race for two-year-old horses
- Conditioned race: a race where conditions such as age, sex, success rate etc. are set
- Derby: a stakes race for three-year-old colts
- Normal harness races: races where jockeys control horses from drawn carts
- Oaks: a stakes race for three-year-old fillies
- Sprint race: a race run for less than a mile, often quarter horse races
- Stake: a race that can only be entered with an entrance fee
The Most Famous Thoroughbred Race Horses of All Time
Over the last century, horse racing has captured the hearts and minds of generations of Americans. But at the very center of this tradition are the horses themselves, many of which remain household names decades after their last races.
Triple crown winners, and world’s best racing events champions. The following is a list of some of the most famous horses of all time:
- Secretariat
- Seabiscuit
- Man o’War
- Frankel
- Red Rum
- Makybe Diva
The Most Famous Jockeys of All Time
Behind every winning horse is a talented jockey. Requiring extreme stamina, determination and strength, there are a number of jockeys that have led horses to thousands of victories and have competed in many of the largest races in the world.
The following is a list of some of the most famous horse jockeys, of all time:
- Bill Shoemaker
- Lester Piggot
- John R. Velazquez
- Gordon Richards
- Mike E. Smith
Equestrian Betting in the USA
Real money wagering on horse races is perhaps the biggest element to the horse racing sport and tends to drive viewership and sponsorship of the sport. In the USA, it remains perhaps the most widely available form of legal betting, with 41 states offering legal pari-mutuel wagering on horse races.
The pari-mutuel wagering system sees a fixed percentage of the total amount wagered on a race earmarked for the race prize and other operating costs. The remaining money is divided by the number of correct wagers to determine the payout on each bet. Popular horse racing types of bets include winners, placement, and shows.
In some states, bettors are only able to wager at off-track betting parlors or online. This is because they may not have horse race tracks. It’s important to understand your local horse race laws before you attempt to wager online.
Horse Race Betting Tips
Before you wager any money on equestrian sport events, it’s essential that you have a good understanding of what you’re betting on. There are several tactics that the most successful bettors take to boost their chances, some of which we will list below.
Do Your Research
It’s amazing how many bettors will wager on an event without looking into the background of horses, jockeys, and the race itself. Use racing forms to gather intel on this information and more, and read expert tips.
Make Different Bet Types
Understand what the difference between win bets and place bets are before wagering, and cover different options. If you’re looking to make a combination bet, err on the side of caution when it comes to the number of your selections.
Stick to a Budget
It’s never wise to shoot from the hip when it comes to gambling. Always set a budget and loss limit before you start betting it and never chase your losses.
Compare Odds
One of the best things about the expansion of online sports betting is that there are now plenty of options to choose from. This means that you can always compare the best odds on popular races, and take advantage of the offers that suit you best.
Betting Online or In Person
There are both advantages and disadvantages to gambling online and in-person. When it comes to in-person wagering, the biggest advantage is that there is a more exciting atmosphere and it is more social. You also generally always have the opportunity to watch horses race as they happen live at off-track betting parlours, and only race track betting can provide such a unique experience.
On the other hand, online sports betting is much more convenient, and it’s much easier to compare odds with several bookmakers. Many betting sites also offer new players welcome bonuses and loyalty promotions, such as odds boosts and risk-free horse racing bets. Both options provide a great gambling experience and are well worth trying.
Horse Racing Sport Conclusion
Horse racing has remained one of the most popular sports to spectate and bet on in the world for good reason. As a fast-paced and diverse event, millions of fans are drawn to thoroughbred horse racing due to the many years of tradition that it evokes. As online sports betting evolves across the USA, so too do the opportunities to wager on modern horse racing events.
Whether you’re looking to find a local race track for stakes races, whether you’re looking to make a bet or whether you simply want to watch horses race, this is the site for you. Over these many pages, you will find droves of information to help you make the most out of your horse running spectating and betting activity.