Horse Race Betting: How to Bet on Horse Racing Using Crypto
Horse race betting is extremely popular in the online betting community. Crypto users, can even bet on horses using Bitcoin and numerous other cryptocurrencies.
Read on to learn how to bet on horse racing using cryptocurrency on 1xBit.
Table of Contents
- What is Horse Race Betting?
- Top Horse Races to Bet On
- Tips for Horse Racing Betting
- How to Bet on Horse Races with Bitcoin
What is Horse Race Betting?
Horse racing is a popular sport that has been around for millennia. The sport involves a jockey, a person riding a horse through a track, competing with other jockeys on horses to see who is the fastest.
There are four main types of horse races you can bet on.
- Flat Racing, where the horses race on a flat surface like a field or horse track.
- Steeplechasing, also known as Jump Racing, where horses and their jockeys jump over obstacles for the grand prize.
- Harness Racing, where horses race while pulling their ‘driver’ in a small vehicle known as a sulky.
- Endurance racing, where horses and their jockeys race over extreme distances and conditions.
No matter the kind of race, horse racing is exciting to bettors across the world and draws in millions in wagers. Races are spread throughout the year, allowing bettors to look forward to regularly betting on bit races.
Top Horse Races to Bet on
Let’s take a look at the most popular horse races you can bet on.
Qatar Prix de l'Arc de Triomphe
The Qatar Prix de L’Arc de Triomphe is the most famous of the Prix de l’Arc de Triomphe series of horse racing. It is held in the month of October in Qatar, where the race track covers a total of 1.5 miles. Its current grand prize pool stands at $5.3 million.
LONGINES Breeders' Cup Classic
LONGINES Breeders’ Cup Classic features a 1.25-mile track with Throurougbred horses from different places around the world and their jockeys competing for the grand prize. The last race saw the horses and jockeys earning a grand prize of $6 million, with the first horse and jockey walking away with a whopping $3 million.
The LONGINES Breeders’ Cup Classic is usually held in November.
King George VI & Queen Elizabeth Qipco Stakes
King George VI and Queen Elizabeth Qipco Stakes are one of the most prestigious horse races in Britain. The track measures a total of 1.5 miles and features horses from everywhere around the world. Its current prize money is $1.5 million, with the races being held in July for the past three years.
Tenno Sho (Autumn)
Japan holds Tenno Sho, one of the most known horse races in the world. The competition is held twice a year, once in Autumn and in Spring, with the Autumn races being the most famous.
Tenno Sho’s race track is approximately 1.25 miles long, with horses from all over the world competing on it. Winners of the event walk away with a prize pool of $3.8 million.
Kentucky Derby Presented by Woodford Reserve
The Kentucky Derby, also known as “The Run for the Roses” is a 1 ¼ mile horse race held in Kentucky. It is the most-watched horse race in America and has a prize pool/purse of $3 million. The Derby is held on the first Saturday of May.
Tips for Horse Racing Betting
To help you make informed betting decisions, we have come up with a few horse racing betting tips for you.
1. Look at past performance and current form
The first thing you need to know is the horse and its jockey’s past performance and current form. This will involve researching their past races and reading up on recent news. Look out for the health of the horse, the skill of the jockey, and how well they work together.
2. Understand how odds work
For new bettors, it is important for you to read about how betting odds work so that you can know how much you can win or lose on each wager.
3. Manage your bankroll
Keep an eye on how much you want to bet at a time, how much you win, and how you treat your winnings. Have a bankroll that you can review or stick to while betting on horse racing.
How to Bet on Horse Races with Bitcoin
Betting on horse races with Bitcoin is easy and accessible to anyone. Follow these steps to place your first bet.
1. Head to the 1xBit homepage and click on ‘Registration.’
2. Fill in your details, taking note of your account number and password.
3. Click on ‘Deposit.’. You will be given a range of cryptocurrencies to choose from. For this example, we'll select ‘Bitcoin.’
4. Copy the address or QR code provided. This will be where you will send your bitcoin to.
5. Deposit Bitcoin into your address from your wallet.
6. Click on the ‘Sports’ tab. Here, you will scroll down to the section that says ‘Horse Racing,’ and below it will be ‘Horse Antepost’. Horse Racing is the usual betting on a horse race, while Horse Antepost is betting on a race in advance before it happens. Sometimes even before the horses in the races have been announced. For today, we will focus on ‘Horse Racing.’
7. Next, we will pick the horse race and horse to bet on. In our case, we will choose Ita, of the Australian Royal Randwick race occurring on May 28 at GMT 2:10. Then, we decide how much we want to wager.
The beauty of betting on horses on 1xBit is that you can look at the horse’s information by clicking on their names in the top section.
8. Finally, click on ‘Place a Bet’ once you are satisfied with your selections, and wait for the results.
Sign up to 1xBit to start betting on Horse Racing with Bitcoin today!