If you’re a big horse racing fan and want to make some bets on the famous Belmont Stakes, then make your way to Colorado. There you’ll find all simulcasting, OTBs and all the digital sports betting apps and websites that you’ll find anywhere else in the country.
Colorado only has a single racetrack in the entire state — Arapahoe Park — but there are more than a few off track betting sites — OTBs — where you can bet, and of course there are digital options, as well.
What is the age limit for gambling on a horse race in Colorado?
Although some forms of gambling in the state of Colorado allow you to be as young as 18, for horse racing and other forms of sports betting you need to be 21 or older.
Another limitation to sports betting that you might not be aware of is that many of the sports betting websites and apps that allow you to make bets on horse races like the Belmont Stakes require you to be within the state lines of Colorado to make the bet.
It’s also important to note that all venues are going to want to see a photo ID, especially if you win big. Also, if you’re playing online or through a mobile app, you’re going to need to have your bank information as well so that you can get paid.
There may be other requirements as well depending on how much you win — you may end up paying taxes on your winnings, which will require additional information.
Can out-of-state residents bet on the Belmont Stakes from within Colorado?
Yes, anyone who has made the trip into Colorado and is betting either from a mobile app or gaming website or who has visited Arapahoe Park or an off-track betting site can make a bet on the Belmont Stakes and collect winnings.
All that matters for the mobile apps or the websites is that you are within state lines and that you are of age.
What is the largest amount I can bet on the Belmont Stakes?
You can actually bet as much as you want on horse racing in Colorado, so the ceiling for betting on the Belmont Stakes is only set by each venue.
Depending on where you’re making your bets, you may quite literally have an unlimited ceiling, or you may have a ceiling lower than you expected — check with your venue of choice before making a trip to place your bets.
Do I have to pay taxes on my winnings?
If you win more than $600 or if your winnings are 300 times your wager, then the racetrack or horse book is legally obligated to issue you a form W-2G and report your winnings to the IRS.
That being said, you still have to report all winnings to the IRS on your taxes at the end of the year — you just won’t get any assistance from your venue of choice in the reporting.
If you win above $5,000, the racebook will automatically withhold 28% of your winnings for federal taxes and 4% for state taxes.
What do I need to do to bet on the Belmont Stakes in Colorado?
First, you need to pick your venue of choice: You can bet through Arapahoe Park, you can bet through an OTB, or you can make your bets online or through an app.
Arapahoe Park does what many other racetracks around the US do when it’s time for the Triple Crown races — it offers the race on simulcast and allows you to make your bets at the track while watching the events live.
If Arapahoe Park is too far away for you, or if you just don’t like the racetrack atmosphere, you can go to an off-track betting site. Colorado has quite a few OTBs spread throughout the state, so you won’t struggle to find one within a somewhat reasonable driving distance.
You can also gamble on the Belmont Stakes by using one of the many sports betting apps and websites that allow betting on horse racing. You can access these apps on your device of choice, including your smartphone, a tablet, or a desktop or laptop computer.
Available bets for horse racing in Colorado
If you’re a fan of horse racing, you’ll know that there are many types of bets available to you. Just like many racetracks around the country, you’ll find those same types of bets in Colorado.
However, the exact bets that are available are always ultimately up to the venue. Therefore, check with your preferred OTB or digital vendor to find out what bets it offers.
Here are some of the most common bets that you’ll find for the Belmont Stakes:
- Quinella bets
- Exacta bets
- Trifecta bets
- Superfecta bets
- Win bets
- Place bets
- Show bets
- Proposition bets
Bet types explained
- Quinella: A good beginner’s bet, a quinella bet is a bet where you try to decide who the top two horses will be in the race. What’s nice about a quinella is that either of your horses can claim either spot, so you don’t have to be exact on which will claim first and which will claim second.
- Exacta: An exacta is just like a quinella except for the fact that you do have to choose the order that the horses finish in. If the two horses you choose both place but don’t place in the order you put them in, you don’t win your bet.
- Trifecta: A trifecta is just what it sounds like — you choose how three horses will place and the order in which they will place. A trifecta is much harder to hit than an exacta, and the potential payouts reflect this.
- Superfecta: You guessed it — the superfecta is a bet where you try to decide which horses will finish in first, second, third and fourth place, and you have to get them in exactly the right order to win. The superfecta usually has the highest payout of all available bets, but it’s also next to impossible to hit, so don’t waste your money on it.
- Boxing: While the bets above can seem as though they have pretty low odds (and they do), there is a method for getting around that — boxing. Boxing allows you to choose all possible combinations for one of the above bets. Then, as long as your horses are right, you win. Essentially, it allows you to turn the exacta, trifecta and superfecta into quinellas, although the odds and the payouts will obviously be different because you’ll only be able to get one of the bets right.
- Wheeling: Wheeling is like boxing except for the fact that, with wheeling, you must select the winner for all the possible combinations — the other horses can finish in any order. If you wheel a superfecta, you choose one horse to win in each combination and then three other horses that can claim the second, third and fourth spot in any order.
- Win bets: This is a pretty simple bet — you’re just betting on which horse is going to win the race. This can feel like an easy and good bet for a winner, but, because of the odds, it’s not. Place and show bets are better for newbies.
- Place bets: When you make a place bet, you’re betting that a single horse is going to get either first or second place.
- Show bets: When you make a show bet, you’re betting that a single horse is going to get either first, second or third place. This is a great bet for a newbie because, though the payout is low, you have a good chance of winning if you do a little research on the favorites.
- Proposition bets (prop betting): Prop bets are bets on random outcomes of race-related and non-race-related outcomes. These bets can range from the length by which the winning horse will win to what color the horse might be to whom the jockey will thank during the acceptance speech. If you’re looking to add a little flavor to your betting day and make the Belmont Stakes that much more interesting, then it’s worth your time to look into prop bets. These fun little bets can definitely be worth putting down a little cash on the side purely for the entertainment value. Wouldn’t it be fun to say that you were able to guess if a trainer was going to cry on TV after the race or guess how many words would be in the name of the winning horse? It’s all in good fun after all.
Other types of bets
Some venues offer additional types of bets, though these don’t necessarily apply for the Belmont Stakes.
You might be able to make an across the board bet, where you will make a win bet, a place bet and a show bet all together on a single horse.
This bet is common for bettors who feel like a single horse is going to do well but can’t quite figure out how well.
Arapahoe Park offers daily double bets and triple bets for many of its regular season races. These bets pay off if you pick the winners of two or three consecutive races.