During the Kentucky Derby, Americans across the country enjoy staying home with their friends and family to place online bets on their favorite horses to win races.
Online gambling is heavily regulated in the United States, but horse racing betting has loopholes that allow nearly 40 states to legalize it.
Read below to find out how to place your first horse racing bet online from the comfort of your home just in time for the Kentucky Derby.
HISTORIC AND MEMORABLE KENTUCKY DERBY RACES FROM 1875 ONWARDS
How do you bet on the Kentucky Derby from home?
Throughout the United States, several states allow citizens to place bets online, also known as early deposit bets. This means that you can simply place bets from the comfort of your home and watch the results live without attending the Kentucky Derby. Variety sites offer listings for betting on specific horses or jockeys in the Derby, including BetOnline, Bovada, TwinSpires and BetUS.
There are several sports betting websites that you can use to place your bets on the Kentucky Derby from the comfort of your own home. (AP Photo/Mark Humphrey)
After signing up and depositing your money at one of these sites, you can start placing your first bet. The first step will be to select the bet you wish to place, which could include some form of combination bet. Parlay betting allows people to combine multiple horse races into one bet. However, for the Derby, you can always place one bet at a time per race.
After placing your bet, you will confirm the amount you wish to bet and receive a ticket. Most sites will allow you to keep track of lists or timelines of different breeds. You can study each horse’s odds of winning its race and other statistics to help inform your decision. Also, you can always add more bets before the deadline. Some online gambling sites, like TwinSpires offer first-time players a sign-up bonus for special events like the Derby.
KENTUCKY DERBY: THE RACING HISTORY AND LONG DANCE TRADITIONS
What to do before betting on a horse?
Before you start putting money into any betting on the Kentucky Derby, Consider taking a few steps to ensure you’re making a good financial decision and have fun in the process. Start by studying the horse or jockey you bet on before throwing away any money. Read about past race results, backstories, and the odds of who is the favorite to win a particular race.
If you are new to gambling or betting on horses, start by placing bets on the horses that are favorites to win. Although you won’t receive a huge payout compared to betting on the underdog, it is safer. If you are betting on a total of 12 horse races, you should bet on the favorite of all of them in order to win probably four or five.
Remember to place your bets on time to avoid missing out on a potential win before the race starts. (AP Photo/Charlie Riedel)
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Finally, always place your bet before the race begins and gamble responsibly. Horse racing betting should be a fun activity you can do with your friends and family at the start of the Derby, not something that could hurt you financially.
Where can you bet on horse racing online in the US?
Online horse racing betting is legal in dozens of states across the country, including Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Vermont, Virginia, Washington, West Virginia , Wisconsin and Wyoming.
The Kentucky Derby is one of the biggest horse racing events of the year in the United States. (AP Photo/Jeff Roberson, File)
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This form of gambling is legal in many states because the Illegal Internet Gambling Enforcement Act allows state governments to decide whether to legalize online gambling for horse racing.