Cryptocurrencies of all forms are becoming more and more popular online. In particular, they’re also getting more popular when betting on sports. Horse racing has long been one of the more popular options for betting, so it comes as no surprise to find that more players are using crypto to bet on it. Let’s take a look at what these crypto horse racing betting sites can offer.
Top Crypto Horse Racing Betting Sites List (December 2022)
What is horse racing?
A relatively simple concept, horse racing is when two or more horses compete to reach the end of the track first. There are many different types of horse racing, with different distances available as well as the option to bet on flat, harness, or jump races.
For all of these, the goal is to pick which horse will be the fastest. Each horse has different odds placed on them, indicating the likelihood of that horse being the winner. The longer the odds, the less likely it is to win. However, you can bet on an outsider if you want, because if it wins, the payouts can be great.
Using crypto for horse race betting
If you want to bet on horse races, then you can do so on a traditional site using fiat currencies, or you can opt to play on a crypto site. Even if you choose the latter, then actually everything is relatively the same. The only difference is that you will need to have a crypto wallet and have either mined or bought crypto to put in that wallet.
When it comes to placing a bet, you simply need to choose which horse you think will win, set the amount you’d like to place as a bet, and transfer the funds from your crypto wallet to your casino account. Once the race is done, just cash out any winnings you may have earned if you were lucky.
You can use a number of different cryptocurrencies to place bets on horse racing. Some of these options include Bitcoin, Dogecoin, Ethereum, and Litecoin. However, the final options will depend on what the crypto casino you have signed up to will actually accept.
Popular horse racing bets
There are numerous different betting options when it comes to placing crypto bets on horse racing. It can be a little overwhelming. So, here are some of the more popular bets for you to place on a horse:
- Single — this means placing a bet on a horse to win. Even if it comes second, this bet is lost.
- Each-way — great for beginners, this is a way to not lose right away. It basically splits the bet in two and puts half the stake on the horse to win, the other half on the horse to be placed. So, if the horse gets one of the top three positions, the bet still pays out.
- Double or parlay — this is when you choose two horses to win across two different races. However, to pay out, both horses must win their respective races. You can also opt for each-way doubles where you can get paid out if the two horses place in their races. It won’t pay out as much, but it’s more likely to happen.
Depending on the betting site, you can also find a range of bets such as the Trixie, Lucky 15, Round Robin, and Yankee. These require you to select more than one horse, but they can pay out handsomely.
Horse racing is a hugely popular sport around the world and is one of the few sports that most countries allow betting on. This has enabled crypto horse racing betting sites to grow. This type of betting is a whole lot of fun too. This is because there are some seriously big wins that can come from horse racing betting. So, find a betting site and get ready to enjoy some high-octane sport.
How can I start crypto horse racing betting?
Very easily! There’s really no difference between betting on horses with crypto or with fiat. The only difference is that you will need a crypto wallet so that you can transfer your funds from that to your betting site account to place your bets.
Are Bitcoin horse racing betting sites legal?
Yes, but only if you are playing at one that is licensed and regulated in your country, state, or jurisdiction. You can play on sites that aren’t legal, but the security ramifications and subsequent issues that can arise are entirely up to you.