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Iowa has a rich history of horse racing dating back to the late 19th century. Being in the Midwest, most of it was standardbred harness racing that began at the state since shutting down Rush Park racetrack.

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4. While laws have changed and legalized gambling has become more widespread, betting on horse racing has been legal in most jurisdictions for years upon years. As a result, many people who grew up watching the sport might have a background in betting on the races.

Iowa also has legal off-track and account wagering with OTB facilities inside many of the state’s licensed casinos and it’s lone greyhound racetrack, the Iowa Greyhound Park.

You can also bet on horse racing from across the U.S. with the top simulcast and online horse race betting operator in the country, TVG. Plus, many new Iowa online and mobile sportsbooks will take bets on horse races as well.

Below is a complete overview of horse racing and betting in Iowa, including everything you need to know about Prairie Meadows, horse racing across the country, and how you can bet it, online and in-person, right here in the Hawkeye State.

Best horse betting app in Iowa

How does online horse betting work?

You can bet on horse races from all over the U.S., online, right here in Iowa, with simulcast and online horse race betting operator TVG.

You simply need to sign up for a TVG account and deposit funds into it.

Then, you can browse through the race menu on TVG, find something to bet on and fire away.

Races are listed by track and according to the nearest post time. Just click on a horse you like in any race and you can choose how you want to bet and how much, or whether you want to add more horses to your bet turning it into any one of a variety of different exotic bets.

Popular types of bets in horse racing

Here’s a look at the basic bets and exotics available for every race on TVG:

• Win: Pick a horse to win the race. Get paid at the post-time odds once all the bets are in if your horse wins.
• Place: Pick a horse to win or finish second. Get paid at the post-time place odds once all the bets are in if your horse wins or finishes second.
• Show: Pick a horse to win, finish second, or third. Get paid at the post-time show odds once all the bets are in if your horse wins, finishes second, or third.
• Exacta: Pick two horses to finish first and second in that order. Get paid at increased odds if you are right.
• Trifecta: Pick three horses to finish first, second, and third in that order. Get paid at even bigger odds if you are right.
• Superfecta: Pick four horses to finish first, second, third, and fourth in that order. Get paid at massive odds if you are right.

What is a boxed bet?

Exacta, Trifecta, and Superfecta bets can all be boxed. This is akin to placing additional bets on all the different combinations of finishing order for the same number of horses in the bet.

You get paid at the same odds if one comes through, but boxing is more costly.

What is a wheel bet?

You can also wheel your Exacta, Trifecta, and Superfecta bets. This involves “keying” or fixing the finishing position of certain horses while putting them together with multiple betting combinations adding different horses and changing their finishing positions.

How horse racing odds work

Morning odds are set for every horse in a race by the track where the race will be run.

Tracks take into consideration everything from the horse’s previous record, to the jockey and trainer’s reputation, and how likely the public is to bet on the horse. Once those morning odds are released, the rest is up to the public. The horse betting odds will fluctuate ahead of the race and finally settle at post time.

Unlike traditional sports betting, you don’t lock in the odds on a horse at the time you place a bet. Instead, you get paid on winning bets at post-time odds determined by the amount bet on each horse relative to how much is bet on the others in the race.

If the public is betting heavily on one horse, that will lower the odds on that horse significantly. Low to no betting drives the odds up.

The pari-mutuel betting system

Pari-mutuel betting is a pooled betting system. It involves pooling all bets of a certain type together, removing a vig for the house, and paying out the rest to all winning bets by a share price or odds. The share price or odds are determined by the amount bet on each outcome of an event relative to how much is bet on the other possible outcomes in the event.

For example, all the money bet on horses to win the Kentucky Derby goes into the same pool. The house takes its share and the rest is paid out to anyone who bet on the Derby winner at a price set based on how much was bet on that horse compared to the other Derby runners.

How to claim bonuses at horse betting sites

You can get bonus funds you can use to bet on any race you like when you sign up for an account and make a deposit with an online horse betting and simulcast operator like TVG.

During the registration process, there will be a space where you can enter a promo or bonus code. Enter our exclusive LSRTVG promo code when you register with TVG and you’ll get a 50% deposit bonus worth up to $250.

That means if you deposit $50, you’ll get a $25 bonus free, all the way up to a $250 bonus if you deposit $500. The bonus cash must be used for betting, but anything you win is yours to keep and do with what you like.

Once you’re in, you’ll also be eligible to take part in other free contests, money back specials, betting insurance, and win bonus promos TVG runs.

How to open a horse betting account and deposit

Anyone 18 years of age or older can open a TVG account and bet on local and simulcast races on the Internet.

Horse Gambling Calculator

Opening your TVG account requires only a minimal amount of personal information, including your:

• Name
• Email address
• Phone number
• Date of birth
• Current address

Once you have an account, you can deposit money to bet with using any one of the available deposit options, including:

• ACH/eCheck
• Debit and Credit Card (with approval from issuing bank)
• TVG Prepaid Card
• PayNearMe (7-Eleven, CVS, Family Dollar)
• PayPal
• Gift Cards
• Wire Transfer
• Money Orders/Checks (Mail to TVG at PO Box 22113 Tulsa, OK 74121)

How to cash out a winning bet

When you bet on a horse race at the window or a self-service betting kiosk at a track or OTB, you get a ticket. If your bet wins you can take that ticket back to the window or kiosk and cash it in.

It works a little differently online. TVG involves account wagering and that means there are no tickets. Current bets are listed on your account and if they win, the money is automatically deposited into your account.

That happens almost immediately after a race result is declared final and you can then turn any money in your account into cash by making a withdrawal.

Most of the time, you can make withdrawals using the same method you used to make a deposit. If that’s not available, TVG will fix you up with another method, or, send you a check in the mail if all else fails.

What types of horse races can I bet on?

There are three types of horse races you can bet on in the US: Thoroughbred, Standardbred (harness), and Quarter Horse.

• Thoroughbred: Jockey-ridden horses running middle-distance races out of a starting gate.
• Standardbred (harness): Horses pull two-wheeled jockey-driven carts with a running start.
• Quarter Horse: Jockey-ridden horses running a sprint.

Major horse racing events to bet on in Iowa

Here a look at the major events in the horse racing world:

Triple Crown of Thoroughbred Racing

• Kentucky Derby: The first leg of the Triple Crown held on the first Saturday in May at Churchill Downs in Kentucky.
• Preakness Stakes: The second leg of the Triple Crown held on the third Saturday in May, two weeks after the Kentucky Derby, at the Pimlico Race Course in Maryland.
• Belmont Stakes: Third and final leg of the Triple Crown held three weeks after the Preakness at Belmont Park in New York.
• Breeders’ Cup: Held in the Fall, including 14 races over two days with $31 million in purses and marking the end of the North American Thoroughbred Racing season and World Championship. Featuring the $6 million Breeders’ Cup Classic, the richest race in North America.
• Dubai World Cup: One of the biggest prize pools of any race meet. Held at Meydan Racecourse in the Emirate of Dubai, United Arab Emirates. Featuring the top global thoroughbred talent.
• Saudi Cup: Now the richest horse race in the world. Held at King Abdulaziz Racetrack in Riyadh, Saudi Arabia with a purse of $20 million and $10 million reserved for the winner.

Where can I watch live horse racing online?

You can watch live streams or horse races from tracks around the US and beyond with the TVG app. Video streaming is free when you have a wagering account with TVG.

Click the ‘Live Streaming’ tab to tune in. Feeds are available for most US and some international tracks.

TVG also offers analysis, live odds, handicapping picks, and tips.

5 horse betting tips for beginners

If you’re new to betting on the ponies, try these five tips for beginners:

1. Stick to the straights: Win, place, and show bets are easy to understand and the best bets for beginners.
2. Bet the minimum: Keep it cheap by betting the $2 minimum on a couple of horses in a couple of races.
3. Don’t bet on every race: You don’t have to bet on every single race in the program. Instead, scour that program for the best bets ahead of time and focus your betting on those horses.
4. Set a budget: Set a betting budget and stick to it. Make sure it’s an amount you can afford to lose and once it’s done, so are you.
5. Get TVG: TVG isn’t just an online betting portal and place to watch live-streamed races. It’s filled with all kinds of info including handicapping picks and tips you can use to help guide your betting. Like all wagering, horse betting is a war of information and you’ll find everything you need with TVG.

More on horse racing in Iowa

Iowa has just one horse racing venue. Prairie Meadows has live and simulcast racing with pari-mutuel wagering and a casino.

The track opened in Altoona in 1989 and lost money until off-track betting, slots and the full-service casino launched. Polk County owns the facility and profits benefit community schemes in the Des Moines area.

Horse Gambling Movies

The racetrack has a one-mile dirt track with a chute for quarter horses. Live racing is held from April to October.

The casino has more than 1,900 slots and table games, including roulette, blackjack, and poker. Close to three million people visit annually.

Prairie Meadows Racetrack & Casino

• 1 Prairie Meadows Dr.
• Altoona, IA 50009-0901

Iowa also a greyhound racing facility in Dubuque with simulcast horse racing and pari-mutuel wagering:

Iowa Greyhound Park

• 1855 Greyhound Park Rd.
• Dubuque, IA 52001
• 563-582-3647

Several Iowa casinos are also OTB locations with simulcast horse racing and pari-mutuel wagering, including:

Catfish Bend Casino

• 902 Riverview Drive
• Fort Madison, IA 52627
• 1-800-372-2946

Mississippi Belle II

• 311 Riverview Drive
• Clinton, IA 52732
• 1-800-457-9975

Harrah’s Council Bluffs

• 1 Harrah’s Boulevard
• Council Bluffs, IA 51501
• 1-888-598-8451

Ameristar Casino & Hotel

• 2200 River Road
• Council Bluffs, IA 51501
• 712-328-8888

Bluffs Run Casino

• 2701 23rd Avenue
• Council Bluffs, IA 51502-0420
• 712-323-2500

Diamond Jo Casino

• 400 East 3rd Street
• Dubuque IA 52001
• 563-690-2100

Wild Rose – Emmetsburg

• 701 E. Main St.
• Emmetsburg, IA 50536
• 712-852-2628

Horse Gambling Sites

Isle of Capri Marquette

• 100 Anti-Monopoly Street
• Highway 18 West
• Marquette, IA 52158-0460
• 1-800-496-8238

Terrible’s Lakeside Casino Resort

• 777 Casino Dr.,
• Osceola, IA 50213
• 641-342-9511

Argosy IV

Horse Gambling Online

• 100 Larsen Park Road
• Sioux City, IA 51102
• 1-800-424-0080