Welcome to pari-mutuel betting, also known as pool betting, the cornerstone of horse race wagering. Instead of betting against bookmakers, bettors compete against each other in this dynamic system.
In this article, discover why Bovada stands out as the premier site for pari-mutuel wagering. We’ll also highlight seven other excellent platforms and delve into the workings of fixed odds betting.
Ready? Let’s get started!
Best Pari-Mutuel Betting Sites
- Bovada: Best overall
- MyBookie: Excellent bettings odds
- BetOnline: Best mobile experience
- Sportsbetting.ag: Most user friendly
- BetAnySports: Best for exacta betting
- BetUS: Excellent for betting pool
- Lucky99: Best for fixed odds wagering
- XBet: Best tracks selection
Now that you know the 8 nominees for our pari-mutuel gambling guide, let’s dive deeper into our Top 5 analysis below.
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1. Bovada – Best Pari-Mutuel Betting Site Overall
- Specific promos for Horse Racing
- Fantastic racebook with many different tracks
- 9+ banking options
- Withdrawals processed in less than 1 hour
- Excellent mobile functionality
- Certain information is only available after registration
- Some FAQs could be more detailed
Bovada is one of the most respected sports betting and racebook sites. The elegant design and user-friendliness make it a dream site to place your betting pool wagers on.
Track Selection: 5/5
Bovada has a perfect mix of international tracks from the most significant horse racing jurisdictions. They offer fantastic tracks from the US, the United Kingdom, South Africa, Sweden, and France.
The horse’s odds are excellent, and you will often find Bovada at the top of the betting odds pool. When it comes to the big-name races, Bovada offers betting on most international big leagues, such as the Kentucky Derby, as well as exotic wagers.
Bonuses & Rewards: 4.7/5
When it comes to Bovada’s bonuses and rewards, they have always been known as a generous online gambling site that likes to look after its new and existing players alike.
They offer a sports betting welcome bonus of $250, but that is upped considerably if you are banking with crypto. Crypto players can look forward to a $750 welcome bonus using the code=BTWSWB750.
There are also a few ongoing promotions available for existing players. Racegoers can look forward to rebates, reload bonuses, and spot cashback bonuses depending on what’s on offer at any given time.
Mobile Compatibility: 4.9/5
Bovada has a beautifully designed website which translates nicely onto the dedicated downloadable app. The clean lines and sleek look and feel of the app make it one of the best apps for horse races out there.
There is also a mobile-adapted browser for those that do not want to download an app. The app and browser have an intuitive display, excellent responsiveness, and no lagging or freezing.
Additionally, they are optimized for Android and iOS devices, whether phones or tablets.
Bovada offers a small list of banking options, but they get the job done.
They offer banking via credit and debit cards, MatchPay, and vouchers as fiat currency options. Things get a little more exciting in cryptocurrency as they offer Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
Fiat currency withdrawals can take between 3 and 5 banking days, while you can expect your cryptocurrency withdrawals within 1 to 24 hours.
On rare occasions, Ethereum and Litecoin can take up to 48 hours, but this is not the standard time. There are no crypto fees but expect minimal costs on the fiat currency withdrawals.
Bovada offers some of the best pari-mutuel betting the internet has to offer, and the whole experience is packaged in a beautifully designed website that makes the process as easy as possible.
They also have an excellent customer support department, and their agents are super friendly and efficient. Should you wish to contact their support team, you can do so via live chat and email.
2. MyBookie – Best Racing Betting Odds Pari-Mutuel Wagering Site
- 6+ bonuses and promotions available
- Highest fixed odds
- Fantastic 24-hour customer support
- Superb array of different racetracks from all over the world
- Easily customizable to your preferences
- “Only” 8 banking options
- Sometimes web design falls short
MyBookie is one of the best pari-mutuel betting sites out there and consistently offers some of the most fair odds. It is a well-designed site that provides a host of excellent features as well as a fantastic selection of race track options.
Track Selection: 4.8/5
While most of the tracks on MyBookie hail from the US or Canada, you will also find a decent selection of French race tracks and a handful from Sweden, South Africa, and the UK.
What sets MyBookie apart from most other racebook sites is that they consistently offer the best betting odds, especially for superfecta bets and fixed odds.
They also regularly feature the top stake and derby races. Big-name races are a mainstay of MyBookie’s offering, and you are almost always guaranteed excellent betting odds, even on the big events.
Bonuses & Rewards: 4.9/5
MyBookie is known for being generous when it comes to its bonuses and rewards. For example, they offer a horse racing welcome bonus of 50% up to $1000.
They also have an 8% horse racing rebate for their existing players and a 25% sports reload bonus.
Mobile Compatibility: 4.7/5
MyBookie has a dedicated downloadable app that is easy to use with excellent navigation and brilliant responsiveness. There is no lagging or freezing, and the intuitive display makes it perfect for cell phone and tablet users.
There is also a mobile-adapted browser which is also a breeze to use. The mobile-adapted browser is similar to the app, and both are fully optimized for Android and iOS devices.
MyBookie has a limited but convenient selection of payment and withdrawal options. They offer banking via credit and debit cards as well as Person2Person on the fiat currency side of things. Crypto options are limited to Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
If you choose to bank with fiat currency options, you can expect a few minimal fees along the way, but they are in line with the industry standard. On the other hand, cryptocurrency banking options are completely free of all fees.
Withdrawal times are speedy, within 3 to 5 banking days on fiat currency options and within an hour to 24 hours with crypto.
MyBookie is a superb pari-mutuel horse race betting site that offers above-average odds and a handful of exciting features that make it a dream betting site for backing horses.
They also have an excellent customer support department that operates 24 hours a day. Should you wish to contact their support department, you can use live chat and/or email anytime. They also have a great FAQs section to assist with anything you need.
3. BetOnline – Best Mobile Pari-Mutuel Betting App
- Fantastic horse racing app
- Brilliant user-friendly design
- Up to $1000 signup bonus
- 19+ banking options
- Excellent horse racing guides for beginners
- Card fees can be a little high at 7.5%
- Customer service can be a bit slow at times
Rounding off our top 3 is BetOnline – a betting site with special articles explaining how pari-mutuel wagering works and a dozen other betting tips. Check out more about the bookmaker below.
Track Selection: 4.9/5
Irish tracks are some of the most exciting racetracks in the world. So it is awesome that BetOnline supports Kilbeggan. They also have a few big-name tracks from the US, the UK, South Africa, France, and Sweden.
When it comes to the big stakes, BetOnline is known for having its hands in all sorts of pies, so you can enter all of your favorite grand nationals, derbies, and the like without any issue on the BetOnline platform.
Bonuses & Rewards: 4.9/5
The bonuses and rewards at BetOnline are super-generous. To start off on the right foot, you can get a super welcome bonus of 50% up to $1000, which can be used on horse racing events.
They also have a few ongoing promotions for their existing players, such as reload bonuses and rebates. Best of all, the rebates can sometimes go up to 10%.
Mobile Compatibility: 5/5
The mobile functionality at BetOnline is the best of all the pari-mutuel betting sites. Their dedicated downloadable app is superbly designed with flawless navigation and excellent responsiveness. We absolutely love the look and feel.
There is also a mobile-adapted browser which is equally as impressive. With the browser, you don’t even notice that it is not an app, such is the quality of the design. Both the app and browser are fully optimized for Android and iOS devices of varying screen sizes.
BetOnline has the best banking options of all the best pari-mutuel wagering sites. They offer banking via credit and debit cards, Neteller, Skrill, Person2Person, MoneyOrder, bank wire transfer, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
Take note that a 7.5% credit card fee is attached to the credit and debit card banking methods. However, all other banking options, such as Neteller or Skrill, are either low in fees or free of all costs, as are the crypto options.
Fortunately, the withdrawals take as little as 3 banking days for fiat and a few hours for crypto.
BetOnline not only has impeccable mobile functionality, but it also has several guides for new bettors. There, you may learn how pari-mutuel betting work, how to understand the odds, and more.
Regarding customer support, BetOnline can be a little hit-and-miss occasionally, according to user-generated reviews. Still, we have never found this to be true.
We have always found their agents to be helpful and super-friendly. To get in touch with their support team, you can use the live chat feature or contact them via email.
4. Sportsbetting.ag – Most User-Friendly Pari-Mutuel Wagering Site
- Best user interface
- Fantastic customer support
- Payouts processed within minutes
- Up to $1000 bonus for new customers
- Classic and Modern design views available
- Some banking fees are high
- Number of markets slightly lower than others
Sportsbetting.ag offers the most user-friendly betting experience. Their whole offering is designed to make betting as easy as possible, and they offer a host of other great support features as well.
Track Selection: 4.9/5
Sportsbetting.ag has a thrilling track selection with all of the great tracks from both the US and the UK on offer. You will also find a smaller selection of tracks from South Africa, France, and Sweden.
We especially love that they support all of the big-name races, so if you are looking to place your bets on the Kentucky Derby, for instance, you are in luck on Sportsbetting.ag.
Bonuses & Rewards: 4.9/5
New bettors at Sportsbetting.ag are greeted with a 50% welcome bonus up to $1000 on their first deposit.
Their existing players are not left out in the cold. They also offer rebates and reload bonuses, but you must catch them at the right time as they are not always available. It is best to check their website to see what ongoing promotions they offer at any time.
Mobile Compatibility: 4.8/5
Sportsbetting.ag’s mobile app is a nicely put-together mobile application that makes pari-mutuel betting easy. The responsiveness is impressive, and you will not struggle with any lagging or freezing.
The mobile-adapted browser differs slightly from the app, but it is still nice to handle. Everything is easy to find, and the overall navigation is exceptional.
Sportsbetting.ag offers a fantastic selection of great online banking methods, including credit and debit cards, Discover and Moneygram. Things get more interesting on the crypto side, with Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Tether, and USD Coin available.
There are a few hefty fees on the fiat currency options. Still, cryptocurrency transactions are free; you can expect your cash within a few minutes to an hour.
Another distinguishing feature of betting at Sportsbetting.ag is the contests. Dozens of competitions are available every week, many of which are free to enter. In horse racing, guessing the winning horse and the last-placed horse right is usually necessary.
They also have an excellent customer support department; their agents are friendly and efficient. Should you need to contact their support team, you can do so via live chat and email 24 hours a day.
5. BetAnySports – Best Exacta Betting Site
- Best for exacta betting
- 25% cashback up to $500
- Fantastic mobile functionality
- Exceptionally customer support
- Website is a little stale
- Sign-up bonus does not add extra credits
BetAnySports is a horse racing fan’s wonderland, mainly because it has the best selection of exacta bets on our list. With more options, more chances for you to get those winning bets, right?! Let’s see what else they offer:
Track Selection: 5/5
BetAnySports is a bettor’s heaven. They have just about any track you can think of – from the US, the United Kingdom, New Zealand, Australia, South Africa, France, Sweden, and Ireland.
They also have their finger on the pulse of every big-name title the racing world has to offer. When it comes to their odds, they offer a fair game, and you would be hard-pressed to find a better track selection anywhere else in the online horse race betting world.
Bonuses & Rewards: 4.7/5
Unlike the other betting sites in our guide, BetAnySports offers a cashback for your first bet of 25% up to $500. This means that if your first money bet loses, the bookmaker gives a quarter of your stake back.
In addition, bettors can benefit from constantly boosted odds. It is true that some of the promotions are not available for horse racing, but you will surely find something to your liking here.
Mobile Compatibility: 4.7/5
BetAnySports does not have a dedicated downloadable mobile app but a decent mobile browser. We are not great fans of the website layout and design, which also seems to translate onto the mobile platform.
That being said, the responsiveness is good, and there is no lagging or freezing. The intuitive display also automatically adapts to any screen size, with good overall performance.
The payment methods offered by BetAnySports are about average. As expected, Bitcoin, Bitcoin Cash, Litecoin, credit cards, and electronic checks lead the way.
The best part is that all their transactions are free of fees. Withdrawal times are also excellent – you will receive your funds within 3 days in fiat currency and within an hour in crypto.
We absolutely love the track selection at BetAnySport, and while the banking options and overall website design are not our cup of tea, the fact that they have such a phenomenal pari-mutuel system bets that makes up for any issues we may have.
They also have a decent customer support service, and their agents are extremely knowledgeable. Should you wish to contact their customer support department, you can do so via live chat and email.
Best Pari-Mutuel Betting Sites and Apps: How Were They Ranked
Below, we show you all the criteria used to form this our guide about the best horse racing betting sites for fixed odds:
The number and selection of race tracks are essential to a horse racing betting site’s success. In rare instances, only a few tracks can be acceptable if they offer exceptional odds.
For the most part, you will want to choose a site with a decent selection of race tracks to place your bets on.
Bonuses and Rewards:
Good bonuses and offers are essential for pari-mutuel betting sites because they make the betting experience more exciting and rewarding for users.
These special deals attract people to the platform and give them extra incentives to try out different bets, making their time on the site more enjoyable and potentially leading to a bigger winning outcome.
We increasingly turn to mobile platforms for our online racing pleasures, so excellent mobile functionality is vital. Having a mobile app is ideal but not necessary. On the other hand, having a decent mobile browser is an absolute must.
The speed and ease of banking options are vital for pari-mutuel betting sites, ensuring that players can swiftly deposit and withdraw money from their accounts whenever they want.
By providing quick and user-friendly payment methods like Mastercard, Visa, and crypto, these sites empower players with the flexibility to manage their funds efficiently, enhancing their overall betting experience and satisfaction.
Why is Bovada the Best Pari-Mutuel Betting Site?
Bovada offers the best pari-mutuel betting the internet has to offer, and we can prove why:
- All-round: Bovada has a comprehensive platform that excels in horse racing, as well as featuring among the top for greyhound betting, sports betting in general, casino, and more.
- Quality and quantity: Bovada offers a combination of high-quality betting and a wide range of available tracks and races.
- Perfect for beginners: Its user-friendly interface has clear instructions and guidance, catering to newcomers in the world of pari-mutuel wagering.
- Excellent offers: New players can claim up to $750 in bonuses for any racing day or sport.
What Is Pari-Mutuel Betting?
Pari-mutuel betting is a type of gambling where all the bets placed by bettors go into a shared pool. Instead of betting against a bookmaker, bettors are essentially betting against each other.
After the race or event, the money pool is divided equally among the bettors with the winning tickets.
For example, imagine 10 people each bet $10 on a horse race, creating a pool of $100. The betting platform takes a small percentage as its fee, let’s say 10%, leaving $90 in the pool.
If three people correctly picked the winning horse, the $90 would be evenly distributed among them, so each would receive $30 as their share of the winnings.
Pari-mutuel wagering encourages community participation and the potential for bigger payouts if fewer people make the correct prediction.
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Pari-Mutuel Wagering Sites: Beginners Guide
What type of win, place, show bets can I make at horse racing?
There are many win, place, show bets when it comes to horse racing. Some other outcomes include Exactas, Quinellas, Trifectas, and Superfectas, to name just a few.
In horse racing betting markets, the handicapping process involves analyzing past performances and various factors to assess a horse’s chances, resulting in the relevant potential payout odds.
How do I place my exacta bet?
Placing a exacta bet is as easy as possible. First, fund your account, then select the track on the Racebook page, and pick horses from the list with checkboxes.
Select which horses you think will come in, and in what order by putting the numbers into the respective boxes. Click “Add to Betslip,” and boom- you have placed your bet and have officially “backed” your horse/s of choice.
How do pari-mutuel bets work?
Pari-mutuel betting work by pooling wagers from bettors, and after deducting fees, the remaining pool is distributed among those with winning selections.
What is meant by pari-mutuel betting?
Pari-mutuel gambling is a system where bets from all participants are pooled together, and the odds are determined by the total amount wagered.
What is an example of pari-mutuel betting?
An example of pari-mutuel wagering is: In a horse race, all bets are collected in a pool. After deducting fees, the pool is shared among the bettors who picked the winning horse.
What is the difference between pari-mutuel and fixed-odds?
Pari-mutuel wagering works with flexible odds determined by betting activity. At the same time, fixed-odds wagering offers predetermined odds the bookmaker sets when placing the bet.
Top 5 Pari-Mutuel Wagering Sites, Compared
Just like we have done with our Best Virtual Horse Racing Betting Sites article, let’s recap what the top 5 platforms bring to the table:
Bovada: Bovada is our top-rated betting site for the best pari-mutuel betting site because it offers a superior horse racing experience coupled with excellent features such as brilliant mobile functionality, excellent race tracks and brilliant odds.
They also offer a great welcome bonus of up to $250 or a further $750 if you bank using crypto. Code=BTWSWB750.
MyBookie: MyBookie is a superb pari-mutuel betting site that offers the best horse racing odds of all the online racebooks. They also offer an excellent welcome bonus of 50% up to $1000.
BetOnline: BetOnline offers the best mobile experience of all the top online horse racing pari-mutuel wagering sites. They also offer a great welcome bonus of 50% up to $1000 if you use the code=BET1000.
Sportsbetting.ag: Sportsbetting.ag offers the most user-friendly pari-mutuel experience. They also offer a great welcome bonus of 50% up to $1000.
BetAnySports: BetAnySports offers the best selection of tracks in the online horse racing world. They also offer a fair welcome bonus of 25% cashback up to $500.
How to Place a Pari-Mutuel Bet
To place a pari-mutuel bet, you must first register on a betting site. Using the leading platform Bovada, we show below the step by step to begin betting with exacta bets and fixed odds:
1. Sign Up for a New Account
- Go to one of our recommended platforms and click “Join” in the top right-hand corner.
- Fill in your personal details such as email, date of birth, phone number, and your desired password
- Proceed to finalize your registration
2. Check Your Email
- Go to your inbox to find your welcome email. Remember to check your spam or junk folder if you do not find the mail in your inbox.
- Click “verify” to activate your account.
3. Deposit Your Funds
- Go to the cashier’s section and follow the prompts to deposit your funds.
4. Find Your Fixed Odds Betting Market
- Done! Find the racing section to start placing your pool bets on horse racing events.
Best Pari-Mutuel Betting Sites: Time to Try the Fixed Odds Betting
Pari-mutuel betting adds a thrilling dimension to horse racing, making it a favored choice among bettors. The potential for substantial earnings and the excitement of competitive odds make it all the more enticing.
Our top recommendation, Bovada, offers a fantastic platform for pari-mutuel wagering, ensuring you have a delightful experience.
Making informed picks can lead to rewarding wins, and we wish you the best of luck on your betting journey, hoping those runners bring home the high-stakes rewards!
DISCLAIMER: The information on this site is for entertainment purposes only. As we’ve always emphasized, gambling is a risky entertainment form. With this in view, you should never take this path to resolve financial difficulties as there’s nothing assured. Remember, at any given point, the “house always wins.”
Do you feel as though you’re approaching problem gambling, or do you know someone with a similar issue? Without further ado, call the National Gambling Helpline at 1-800-522-4700. Also, gambling sites are 21+ only.
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