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The Best Horse Racing Betting Sites
Written by:Andy PottsEditor
Biography
Andy is a NCE-qualified journalist and editor with a wide range of experience in a number of difference niches, including online gambling, online casino games, igaming, writing, editing, PR and management.
Reviewed by:Simon YoungEditor
Biography
Simon Young, a former national news editor and journalist, once held the prestigious position of Lead Editor at PokerStars before focusing his editorial talents on Betsquare. His illustrious career journey seamlessly bridges the realms of journalism and online gambling, crafting a unique narrative of expertise and innovation.
Updated on:
Feb 19, 2024, 2:08 pm
Introduction:
The so-called “sport of kings” is undoubtedly popular in Australia, with around one million Aussies gambling regularly on horse racing yearly.
On average, punters bet $1,300 a year with their favourite bookies covering popular Group 1 race meetings, including the Caulfield Cup, WS Cox Plate and the iconic Melbourne Cup.
In this guide, we’ll address the best online horse betting sites in Australia while appraising the most popular markets and wager types.
Online Horse Betting Odds
Most horse betting sites in Australia use decimal odds when pricing races. These are presented as numbers to two decimal places, while they’ll showcase how much you’re liable to win for every $1 that’s wagered successfully online (including your stake amount).
So, if you successfully stake $10 on a specific runner to win the prestigious Melbourne Cup at a starting price of 5.00, you’ll bank $50 in total, of which $40 is profit.
In addition to outlining how much you could potentially win when backing a particular horse, decimal odds can also be used to calculate the implied probability of an outcome occurring. This is crucial when determining a bet’s value proposition and defining the optimal stake amount, while there’s even a formula to help you calculate implied probability:
(1/ decimal odds) * 100 = implied probability
So, let’s say that you intend to back a 2.00 shot to win the 2024 Melbourne Cup. In this case, you would divide one by 2.00 to create a value of 0.5 before multiplying this by 100 to create an implied probability of 50%. Conversely, if a runner is priced at 21.00 to win, these odds imply only a 4.76% of the horse prevailing.
Types of Horse Racing Bets
Understanding odds and precisely what they convey is crucial, especially when looking to identify value in betting markets and compare the types of wager accessible through the best horse racing bookies in Australia. But what are the most common types of horse racing bets?
Futures Betting
Futures or outright bets are the most popular type of horse racing wager, as they simply require you to back the winner of a particular race. When betting on large-scale meetings such as the Melbourne Spring Racing Carnival, you can also back between four and 20 individual race winners in a single accumulator wager, usually at an extended price. Often, futures horse racing odds are relatively long, especially for races with large and competitive fields.
Each-Way Betting
You can also place each-way wagers when you bet on horse racing. This features ‘win’ and ‘place’ components, as you back horse to both win a particular race and finish within the places. This type of bet requires you to split your stake between the two potential outcomes, and while you may win slightly less if your pick does come in first, you’ll also be able to recoup a percentage of your stake if the runner finishes second, third or fourth.
Exacta/Quinella/Trifecta
Exacta, Quinella and Trifecta wagers all focus on the horses finishing in the top two or three of a race. For example, Exacta bets require selecting the runners that finish first and second in order. In contrast, a Quinella wager allows you to predict the top two without forecasting which will win. A Trifecta bet requires you to select the runners that will finish first, second and third in order during a specific race, so this is undoubtedly a high-risk wager that should be built on significant knowledge and analysis.
Winning Distance Betting
This popular spread betting market is available at most horse betting sites. Typically, it sees bookies set different winning margins (by lengths) as available betting lines, and you’ll wager on whether the actual margin of victory in a race is over or under one of these options. This market creates even money wagers that are usually competitively priced, while you can use historic form, performance and track data to make genuinely informed selections here.
Popular Horse Races in Australia to bet on
However, if you choose to bet on horse racing, you should note that the biggest meetings in Australia tend to unlock the largest selection of betting markets. So, here’s a snapshot of the best and most popular horse races.
Melbourne Cup Betting
The iconic Melbourne Cup is undoubtedly the biggest horse race in Australia, with this Grade 1 event the richest two-mile handicap in the world and watched by millions of fans across the globe. The 2023 race boasted a total prize fund of $8,410,000, while it takes place at the Flemington Racecourse during the first week in November. You’ll find that the best online horse betting sites in Australia often reserve their best offers and promotions for this race.
The W.S Cox Plate
This is Australia’s second richest Group 1 race, while it’s also hosted in Melbourne at the Moonee Valley Racecourse. It’s available to all thoroughbreds aged three years and over, while this one-mile, two-furlong race typically boasts a generous purse of over $5,000,000. It usually takes place a month before the Melbourne Cup during a busy autumn for horse racing fans.
Caulfield Cup
The Caulfield Cup boasts incredible prestige and longevity, inaugurated over 144 years ago in 1879. Thousands of fans flock to the Caulfield Racecourse in Melbourne to watch this race live every October. It’s a Group 1 Thoroughbred race contested in handicap conditions. Like the W.S. Cox Plate, it has a total purse of $5,000,000 and is home to a vast range of competitively priced betting markets.
The Queen Elizabeth Stakes
The Queen Elizabeth Stakes (formerly known as the Queen’s Plate) is another Group 1 race at the Randwick Racecourse in Sydney, Australia. This thoroughbred horse race also occurs during autumn and the popular ATC Championship series. At the same time, its impressive prize fund of $4,000,000 makes it the richest race of the iconic Sydney Autumn Carnival.
Online Horse Betting Apps and Live Streaming
If you can’t see these race meetings in person, the good news is that many of Australia’s best horse racing bookmakers offer live streaming through their native mobile apps.
These are commonly available on iOS and Android, while they’re inherently secure and offer access to each operator’s full range of sports categories and betting markets. This creates a fully immersive and accessible live betting experience, regardless of which races you choose to wager on.
How we Rate Horse Racing Betting Sites in Australia
Mobile app accessibility and performance are also key metrics that Betsquare uses to rank and review betting sites in Oz. However, many others can help you to compare operators. Here’s a summary of the most important:
How to Choose an Australian Bookmaker
Even when using this criteria, several reputable and market-leading betting sites exist in Australia. But which of these offers the best experience to Aussies? Here’s a list of our recommended bookies here at Betsquare.
01
BetsAmigo
Best For Horse Racing Betting
Why we chose BetsAmigo
While BetsAmigo is relatively new to the Aussie market, it boasts a Malta Gambling Authority license and is operated by the reputable L.C.S. Limited brand. The site is also intuitively designed and features several menu filters to help you find your preferred betting markets.
Bonuses and Promotions
As a new BetsAmigo customer, you can deposit at least $10 and claim a 100% first deposit match up to $100. This is subject to wagering requirements of 5x the total value of the bonus, while those of you who credit your new account with $35 will also earn a free sports bet of the same value.
Payment Methods
You’ll find various secure payment methods in play at BetsAmigo, including Visa debit, Mastercard, Skrill, Neteller and the Paysafecard. Withdrawals take up to 3 working days on average, while maximum cashout levels of $1,000 per day are permitted through your account.
Mobile App In-depth review
You can access native BetsAmigo software on iOS and Android, while these apps are slick, intuitively designed and easy to navigate. You can also access the site’s full range of betting markets and comprehensive FAQ resources through the app!
PROS
CONS
BetsAmigo is a trustworthy and innovative bookie that offers an extensive range of competitively priced horse racing betting markets.
BetsAmigo would benefit from introducing higher withdrawal limits.
02
Wallacebet
Best For Free Bets
Why we chose Wallacebet
Wallacebet also belongs to L.C.S. Limited and boasts an MGA license, while it covers a vast selection of sports categories, including MMA, baseball, cycling, motorsport and (of course) horse racing. The operator also offers superb customer support 24/7 and an exceptional range of bonuses.
Bonuses and Promotions
Wallacebet customers can access the same welcome offer as BetsAmigo customers, including a 100% first deposit match up to $100 and a $35 free bet. There’s also a ‘Freebie Friday’ bonus of 50% up to the value of $40, alongside a weekend sports reload of 50% up to $100 when you deposit $25 or more!
Payment Methods
You can credit your Wallacebet account using Visa, Mastercard, Jeton Cash and Neosurf, while withdrawals can be processed via AstroPay, Jeton, MiFinity and trusty bank transfer. You can withdraw a maximum of $1000 per single transaction through these methods, while the minimum threshold when using a bank transfer is $100.
Mobile App In-depth review
The full range of Wallacebet sports categories and wagering markets can be accessed through native software on iOS and Android. At the same time, the former app also offers extensive live streaming of various sporting events and horse racing meetings (including the aforementioned Melbourne Cup).
PROS
CONS
- Wallacebet offers a superb mobile app experience alongside excellent sports coverage and innovative free bet offers, while its customer support is responsive and available 24/7.
- The range of payment methods is relatively small, and some of the withdrawal limits are prohibitive.
03
Zotabet
Best For Free Bets
Why we chose Zotabet
Zotabet launched in 2022, while its parent company, Hollycorn N.V., boasts a valuable Curacao gaming license. This bookie is also renowned for having one of the best mobile apps in the Aussie marketplace, while its range of esports betting markets is one of the biggest around!
Bonuses and Promotions
The Zotabet welcome bonus comprises a 10% free bet up to $165, alongside a hunting bonus that matches your first deposit by 100% up to $250. There’s even a reload bonus of 20% up to the value of $330 available on your second deposit with the brand!
Payment Methods
Popular deposit methods at Zotabet include Visa, Mastercard, Maestro, and bank transfer, while you can also credit your account using Skrill and Neteller. While you can only withdraw using Bitcoin or bank transfer at the time of writing, the maximum withdrawal limit of $30,000 per month is more than competitive.
Mobile App In-depth review
The Zotabet app is incredibly slick and responsive, while its intuitive menus feature several filters to help you identify sports and markets in real-time. This app is also available on iOS and Android, and regardless of your device, you can access comprehensive live streaming of some of the biggest horse racing meetings.
PROS
CONS
- In addition to a best-in-class mobile app and high withdrawal limits, Zotabet also boasts an excellent range of tools that can be used for statistical analysis.
- Should allow withdrawals from a broader range of payment methods
04
BetiBet
Best Aussie Language Bookie
Why we chose BetiBet
BetiBet is another popular Aussie sportsbook that boasts a Curacao gaming license, while the site is owned and operated by Dama N.V. Interestingly, this bookie is also one of the few to use a native language version of the site for Aussies, while it also offers some in-depth statistical analysis of racing form and results.
Bonuses and Promotions
If you like to bet on horses as a high roller, you’ll be delighted with the BetiBet welcome offer, which matches your first deposit by 100% up to $2,400. There’s a ‘Welcome OnlyWin’ free bet offer of 10% up to $150, alongside a reload bonus of 25% up to $300 on your second deposit.
Payment Methods
There’s a vast selection of fiat and crypto banking methods at BetiBet, including Visa, Mastercard, Jeton, Litecoin, Bitcoin and Ripple. Forty-eight deposit options are available here, and while only a few of these are available for withdrawal, the operator enables you to withdraw a maximum of $30,000 per month from your account.
Mobile App In-depth review
The app at BetiBet is solid, functional and well-designed, and it’s also available as native software on iOS and Android. You can access every available horse racing betting market and line through the mobile app, while selective live streaming is also available all year round.
PROS
CONS
- BetiBet offers a native language version of its site for Aussies, alongside a huge range of fiat and crypto banking methods. It also provides generous bonuses and free bets.
- The minimum withdrawal limits are relatively high at $100 or 0.0006 BTC.
05
Nine Casino
Best for Quick and Secure Payouts
Why we chose Nine Casino
The well-known Dux Group N.V. established the Nine Casino in 2021, securing a coveted Curacao licence credential. The site also offers competitive withdrawal limits and some of the fastest secure payouts in the market, while it regularly live streams horse races alongside footie, tennis and boxing matchups.
Bonuses and Promotions
Nine Casino’s $900 welcome offer is noticeably large, featuring 100%, 75% and 50% deposit matches across your first three deposits. However, the wagering requirements here are prohibitive, as they’re 6x the combined value of your deposit and the bonus wager.
Payment Methods
You can also access fiat and crypto banking methods at Nine Casino, while the popular e-wallets Skrill and Neteller can process withdrawals within a couple of hours. Occasionally, accessing your winnings may take up to 24 hours, while a cashout limit of $15,000 is also relatively competitive.
Mobile App In-depth review
The iOS and Android Nine Casino apps are well-designed and highly rated through the Apple and Google Play Stores. At the same time, they enable you to fully replicate the desktop betting experience through your smartphone or tablet.
PROS
CONS
- The Nine Casino offers rapid payouts through Skrill, Neteller and selected crypto tokens, while it also covers a broad range of sports in addition to horse racing
- The prohibitive bonus wagering terms may deter you from opting in!
06
Playzilla
Best for Navigation and Ease of Use
Why we chose Playzilla
Rabidi N.V. first launched the Playzilla brand under a Curacao gaming licence, while desktop and mobile apps are responsive and easy to navigate. This lets you quickly explore a broad selection of horse racing betting markets and other sports, while there’s a refreshingly simply welcome bonus package in play here!
Bonuses and Promotions
The welcome bonus features a 100% first deposit match up to the value of $150, alongside a cashback bonus of 10% up to $750. However, the minimum qualifying deposit is $30 (slightly higher than the industry standard of $10), while all qualifying wagers must be placed at odds of 1.80 or greater.
Payment Methods
Many fiat and crypto payment methods are available at Playzilla, which can be used for deposits and withdrawals (including AstroPay, MiFinity, Bitcoin, Litecoin and Ripple). You can withdraw as little as $15 per transaction here, while the maximum withdrawal limit is $30,000 per month.
Mobile App In-depth review
Playzilla’s mobile app offers access to a full range of betting markets on iOS and Android while providing extensive live streaming of domestic and international horse races. The navigation here is also excellent, enabling you to switch seamlessly between different markets and screens.
PROS
CONS
- Playzilla’s simplistic and rewarding bonus offering is impressive, and you’ll find many fiat and crypto payment methods.
- Deposit threshold to qualify for the welcome bonus is quite high at $30.
07
Velobet
Best New Bookie
Why we chose Velobet
The Velobet brand is a newcomer to the Aussie market, launched by Santeda International B.V. in 2023. The site has earned a Curacao gaming license and covers a huge range of sports in addition to horse racing, including footy, virtual sports, MMA and esports.
Bonuses and Promotions
The Velobet welcome bonus comprises a 150% first deposit match up to the value of $1,000, while you can also access a ‘3+1’ free bet, which rewards you with a minimum complimentary wager of $10 at minimum odds of 1.30. However, the wagering requirements in play here are noticeably high at 15x the total value of the bonus.
Payment Methods
This is another bookie that unlocks fiat and crypto payment methods, including Visa debit, AstroPay, Skrill, Neteller, the Paysafecard and Bitcoin. You can withdraw any sum from $20 and up, while e-wallet transactions are completed within 24 hours. The maximum withdrawal limit here is $15,000 per month.
Mobile App In-depth review
Velobet’s bookie app is one of the best-performing pieces of software on iOS and Android, and it can fully replicate the desktop betting experience on your smartphone. The app is also secure and highly responsive, regardless of which race or meeting you’re betting on!
PROS
CONS
- Velobet offers an innovative and sizeable welcome offer, while its range of virtual and esports is among the biggest in the Australian marketplace.
- Wagering requirements of 15x the welcome bonus value are worryingly high.
08
Betcoco
Best for Overall Payments
Why we chose Betcoco
The Betcoco brand is owned and operated by SG International N.V. and launched in 2022 under the Curacao government’s jurisdiction. This site offers excellent coverage of major sports, including horse racing, footie, basketball and ice hockey. It also provides an exceptional selection of payment methods.
Bonuses and Promotions
Betcoco has only recently unveiled its sports betting welcome bonus, which unlocks $25 in free bets when you deposit and wager $10 or more. The qualifying wager must be placed at minimum odds of 1.50, while the free bets are valid for just 24 hours after they have been added to your account.
Payment Methods
Aussies can access many deposit and withdrawal options, including Visa, Mastercard, API and even POLi (native to Australian citizens). Crypto options include Bitcoin, Ethereum and Litecoin, while a minimum cashout limit of $25 will surely entice players!
Mobile App In-depth review
The best thing we can say about Betcoco’s mobile app is that it completely replicates the desktop sports and horse racing betting experience, offering the same range of markets and wager types. You can also access this native software on both iOS and Android.
PROS
CONS
- We like the accessible cashout limits at Betcoco, while the welcome offer is simple transparent and unlocks up to $25 in free bets.
- Your free bets expire after 24 hours can be a little inconvenient.
09
CryptoLeo
Best for Placing Crypto Horse Bets
Why we chose CryptoLeo
The CryptoLeo brand also boasts a Curacao Gaming license and has done so ever since it was launched in 2022 by Uno Digital Media B.V. If you like to bet on horses with crypto, this is undoubtedly the site for you, as it accepts a huge range of tokens and typically impressive payout limits.
Bonuses and Promotions
At the time of writing, there’s no formal welcome offer for sports and horse racing betting enthusiasts. However, you can access several promotions and loyalty rewards as an existing player, with the site’s rakeback feature enabling you to recoup up to 25% of every stake you wager.
Payment Methods
The range of accessible payment options at CryptoLeo includes staple tokens like Bitcoin, Ethereum, Litecoin and USDT. However, you can also transact using Cardano, Tron and Dogecoin, with each token having unique deposit and withdrawal limits. However, the maximum monthly withdrawal limits are noticeably high overall.
Mobile App In-depth review
You can access the full range of CryptoLeo’s betting markets and currencies through its native apps on iOS and Android, while the site’s website is also highly responsive and boasts a distinct mobile-first design. This creates a seamless betting experience regardless of which device you use!
PROS
CONS
- The range of crypto tokens in play here combines first-generation assets like Bitcoin with third-generation alternatives such as Cardano.
- lack of a dedicated sports betting
Horse betting sites payment methods
As you can see from our detailed sportsbook and horse racing betting site reviews, you can access a huge and variable range of payment methods online. Popular deposit options in Oz include Visa, Mastercard, PayPal and the digital payments system POLi. However, the Aussie government have banned the use of credit cards for crediting online gambling accounts. Free and quick withdrawal methods include Skrill and Neteller, while you can also access one or more cryptocurrency tokens at most Aussie bookies.
Taking care of bankroll when betting online
Regardless of how you choose to credit your account and withdraw money (or your preferred horse racing bookmakers in Australia), it’s crucial that you always gamble responsibly and manage your bankroll carefully.
More specifically, your total bankroll should never exceed an amount you can comfortably afford to lose, with this established to cover a finite period. We’d also recommend using deposit limits at your chosen horse betting site, as they enable you to set daily, weekly and monthly caps depending on how frequently you wager.
Horse Betting Customer Support
The quality and accessibility of customer service is one of the key metrics that we consider when ranking the best online horse betting sites in Australia, with the market-leading bookies typically offering 24/7 support through interactive live chat.
They should also offer a responsive email channel, while any telephone numbers should ideally be toll-free. We also prioritise bookies, offering comprehensive FAQ resources and detailed answers to basic queries.
Our Review Process
At Betsquare.com, as a leading online casino affiliate website, we maintain robust sourcing standards. Our insights are derived from peer-reviewed studies, academic research institutions, and authoritative industry associations. We steer clear of tertiary references, ensuring the accuracy and reliability of our content. For a deeper understanding of our content verification processes, explore our editorial policy.
Our team of experts diligently monitors the online casino industry, ensuring our articles remain current and relevant by promptly incorporating the latest available information.
Current Version
Dec 7, 2022
Written By
Andy Potts
Edited By
Simon Young
Online Betting Sites for Horse Racing - FAQs
To bring this guide to a close, we also thought we’d take the time to answer some of your most frequently asked questions about horse betting sites and markets down under. So, let’s get into it.
How can I livestream horse racing in Australia?
While not all Aussie bookies livestream horse racing, most will cover stellar events like the Melbourne Cup. However, you can use our comprehensive reviews to determine which bookies offer the best live-streaming platform and whether this is available through desktop or mobile apps (or both).
How do I place a bet on horse racing?
Once you’ve chosen from our recommended bookies and are logged into your account, you can browse the relevant horse racing betting odds and markets before identifying your picks. Then, simply add these to your bet slip and experiment with different stake amounts before confirming the details and placing your bets.
Where can I get horse racing betting tips?
Most market-leading horse racing bookmakers in Australia offer tips and race predictions, while sites like Zotabet and BetiBet also feature comprehensive race statistics and datasets. These resources can all help to inform your selections, whether you execute ante post wagers or bet in-play.
What are the Best Horse Racing Betting Bonuses?
Ultimately, you’ll have to choose a horse racing betting bonus that’s right for you, although we’ll guide you through the various structures and typical T&Cs to help you make an informed decision. You’ll need to look out for wagering requirements, which dictate how much you’ll have to play through within a fixed period before you can withdraw any winnings.
