How to Bet on the Belmont Stakes in 2023 (Horse Race Betting Explained)

With the Kentucky Derby and Preakness Stakes already behind us, horse racing fans and sports bettors have another big day of races to look forward to with the Belmont Stakes coming up this weekend.

As the third and final leg of the Triple Crown, the Belmont Stakes is your last chance to bet on one of the biggest horse racing events of the year.

If you're unfamiliar with how betting on horse racing works, here is The Duel's complete guide on how to bet on horse racing, specifically the 2023 Belmont Stakes.

How and Where to Bet on the Belmont Stakes 2023

The best place to wager on the 2023 Belmont Stakes is FanDuel, whether you're in a state that allows FanDuel to offer horse racing in the FanDuel Sportsbook app or if you're using FanDuel Racing and TVG.

There are several good reasons why FanDuel is the best place for betting on horse racing, especially its exclusive promotions for the Belmont Stakes. FanDuel Racing and FanDuel Sportsbook will give you $20 back on your bet, while new TVG users get up to $200 back if their first bet loses. That way, you can bet on the Belmont Stakes without the stress of potentially losing any of your hard-earned money.

Beyond its superb promotions, FanDuel also offers an outstanding variety of wagers, convenient deposit options and top-notch customer service.

Claiming your offer and placing bets is super easy and only takes a few minutes:

1. Click here to check out FanDuel's Belmont Stakes betting page, which will direct you to the correct place to bet in your state
2. Sign up to automatically claim your bonus offer
3. Put a wager on whichever horse you'd like
4. Enjoy the fun of watching the Belmont Stakes with some money on the line!

If you're betting on horse racing for the first time, some of the options may appear confusing and perhaps even a little intimidating. Fortunately, we're here to help with a guide on what you need to know about horse race wagering.

Horse Racing Betting FAQ

How do horse racing odds work?

The biggest difference between betting on horse racing and other sports is what happens to the odds after you place your wager. In horse racing, you get whatever odds are posted for your horse when the race begins, so essentially the final, most up-to-date odds.

That means if you bet on a horse with 20/1 odds in the morning but they move to 10/1 before the race, the odds of your bet will become 10/1 as well. This is different than typical sports betting, where the odds of your bet stay frozen no matter how much they change after submitting your bet.

What are win/place/show bets in horse racing?

Win, place and show mean first-place, top-two and top-three finishes, respectively. If you bet on a horse to win, they need to finish in first place for your bet to win. If you wager on your horse to "place", you win if they finish first or second. And if you bet on a horse to "show", you win if they finish first, second or third.

What is an exacta bet in horse racing?

An exacta bet is correctly picking which horse finishes in first place and which horse finishes in second place in the correct order. In other words, it's kind of like a two-horse parlay where you bet on one to finish first and another to finish second.

What is a trifecta bet in horse racing?

A trifecta bet is just like an exacta, but you pick the exact order of the top three finishers rather than the top two. Also like a parlay, this wager typically has long odds because you're combining three specific picks into one bet.

What is a superfecta bet in horse racing?

A superfecta bet is going one step beyond a trifecta by picking the exact order of the top four finishers.

What does it mean to box a horse racing bet?

To "box" an exotic horse racing bet (an exacta, trifecta or superfecta) means that you are betting every possible combination of that bet for the horses you select.

In other words, if you "box" an exacta between the No. 1 and No. 5 horse, that gives you the two possible combinations of 1-5 and 5-1 finishes. If you box a trifecta of No. 1, No. 3 and No. 5, that means you bet all the combinations of 1-3-5, 1-5-3, 3-1-5, 3-5-1 and 5-3-1.

Check out more Belmont Stakes coverage from The Duel: