BetMGM Horse Racing Florida – App Review and Welcome Bonus

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Disclaimer: BetMGM Racebook is not yet live in Florida. This review speculative based on what is know so far and will be updated once BetMGM launches its online horse racebook in FL.

BetMGM got into the horse racing business in 2021 thanks to a deal with the New York Racing Association. Otherwise known as the NYRA, it has been offering legal horse racing bets for years and is available in 30 states. In fact, thanks to its online racebook, NYRA Bets, it’s now one of the leading racing sites in the country.

However, in the interest of expanding its horizons and improving its product, NYRA Bets partnered with BetMGM. The end result is a new online horse betting site. By fusing NYRA’s access to the horse racing industry with BetMGM’s top-quality software, the two have created a quality product.

This BetMGM Racing review will walk you through all of its features. We’ll go over what to expect from the welcome bonus, betting options, available races and more. So, if you’re ready to try betting on the sport of kings via your computer, phone or tablet, read on.

Why choose BetMGM Horse Racing in Florida?
  • Bet on races from 200-plus tracks.
  • Solid promotions and betting bonuses.
  • Live streams and video replays.
  • All types of horse betting available.
BetMGM Online Horse Betting Rating
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BetMGM Horse Racing welcome bonus

BetMGM Racing has yet to announce details for its welcome bonus, but we’re confident it will be worth the wait. For instance, BetMGM’s sportsbook offers all new customers a bonus bet for up to $1,500.

In addition, BetMGM’s partner, NYRA Bets, has its own welcome bonus. That deal is for a 100% matching bonus on your opening deposit up to a maximum of $200. Naturally, there are some terms and conditions to adhere to. However, the bottom line is that you can get up to $200 in additional bets when you join NYRA.

Both bonuses are impressive and, more importantly, they cover the two main types of promotion you’ll find at online racebooks. So it’s reasonable to expect that BetMGM Racing’s bonus for new customers will be either a bonus bet or a deposit multiplier, though the overall value remains to be seen.

BetMGM Racing Florida welcome bonus in 2024

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BetMGM Racing promotions

Horse racing is a sport that runs throughout the year and, in turn, provides plenty of chances for promotions. Some of the deals to look for at BetMGM’s racebook are as follows:

Bonus bets

The way you unlock bonus bets at a horse betting site will vary. However, the main premise will always be the same: do X and receive $Y in bonus bets. Some of the most common ways are by making a deposit, staking money on certain events or claiming loyalty rewards.

You can wager bonus bets as you would cash. That means you can use the credits to speculate on races of your choosing. The only difference between these credits and cash is that you won’t receive your stake back with any winning bets. For example, if you receive a $10 bonus bet and use it on a +120 horse, you would receive the $12 profit if your bet won, but not the original $10 bonus bet back.

Enhanced odds

These promotions improve the odds and/or the payout you receive on winning bets. Enhanced odds take the standard line and improve it by a small percentage. For example, if the line was +110, BetMGM may boost it to +120.

Alongside enhanced odds are profit boosts. These apply to your winnings. For example, if you won $50 and there was a 10% profit boost in place, you’d collect $55 instead.

Bet insurance

Otherwise known as cash back or bonus bets, these bonuses allow you to insure your bet against a loss. There will be various terms and conditions in play. However, if your horse finishes just outside of the top spot, you can get some or all of your stake back in the form of a bonus bet.

BetMGM Racing loyalty program

MGM Resorts, the parent company of BetMGM, has its own loyalty program: M life Rewards. This product was available long before the company launched its first online betting site, though it’s now accessible to online and offline bettors.

This suggests that it will also be available on BetMGM Racing. The amount you have to wager in order to earn iRewards Points may vary from what it is at BetMGM’s sportsbook. However, it’s likely to be somewhere in the region of nine to 12.5 iRPs for every $50 in bets you make.

Is BetMGM Racing legal?

Yes. The horse betting site is the result of a partnership between BetMGM, Entain and NYRA Bets, which already offer legal betting in multiple states between them.

How to create a BetMGM Racing account in Florida

You can join BetMGM’s horse betting site by completing the following steps:

  1. Head to the BetMGM Racing homepage.
  2. Enter all the necessary personal details.
  3. Allow the geolocation tracker to verify your location.
  4. Confirm your age and identity via official documents if prompted.
  5. Log in to your account, make a deposit and start betting.

BetMGM Racing app review

Before we delve into the nuances of the BetMGM Racing app, let’s unpack a few facts. Firstly, BetMGM was born out of a partnership between MGM Resorts and Entain. MGM brought its reputation in the US, and Entain brought its software and expertise from the online betting world. The two combined to form Roar Digital, and BetMGM was born.

NYRA Bets joined the mix in 2021. This online racebook has been active since 2016, and it also knows a thing or two about betting apps. And, more importantly, it has a license to offer horse betting in 30 US states. The end result of these partnerships is that BetMGM Racing uses the latest online betting technology to offer odds on thousands of races every year.

OK, so those are the facts at a corporate level, but how does all of this manifest itself in reality? Well, first, you can use your computer or mobile device to bet on races at over 200 tracks from around the world. Second, everything is safe, secure and smooth. Regardless of the device you’re using, you’ll be able to click, scroll, swipe and tap your way from the main menu to a selection of race cards filled with odds.

Those are the basics, but there’s a lot more to anticipate at BetMGM Racing. Here are some highlights you can expect to see on the app:

Live races

Streaming live races is big business in the online betting world, and BetMGM allows you to watch many of the world’s top races in real time. Streaming is also available on NYRA Bets, so we know that you likely will be able to unlock live content by placing a bet on featured races. You should also be able to watch video replays of big races so you can see exactly how certain horses performed instead of relying on the opinions of others.

Stats and results

Horse racing is a stats-driven sport. Although it comes down to how the horses and jockeys perform on the day, past results count. Because of this, BetMGM gives you access to a host of statistics and results. From the jockey’s weight to the horse’s recent finishing positions, you can use a wealth of data to inform your decision-making process.

Racing tips

BetMGM has a blog filled with sports betting tips and insights. Therefore, it’s hardly a stretch to assume that there will be something for racing. We know that betting predictions can be tough to get right. However, BetMGM likely will have access to a lot of experience. Therefore, you could get some solid horse betting advice and, potentially, some golden tips.

Betting at BetMGM Racing Florida

Horse racing is the sport of choice at this online betting site. That’s obvious from the name, but what might not be so obvious is what this means in practice. For starters, NYRA Bets is legally able to offer odds on races from over 200 tracks. That means you not only get to bet on the best races in the US but also major competitions from around the world. Here are some of the top events to look out for on BetMGM Racing:

  • Belmont Stakes
  • Preakness Stakes
  • Kentucky Derby
  • Melbourne Cup
  • Dubai World Cup
  • The Grand National
  • Royal Ascot

The ability to bet on a huge selection of races is matched by a wide variety of bets. From singles to parlays, you should be able to back your favorite horses in a way that works for you. Some of the most popular betting options are as follows:

  • Outright win bets: Back the horse you believe will win the race.
  • Each-way (place) bets: Choose a horse and win money if it finishes first or in a place position. The place position will depend on the number of horses in the race, but it’s usually second for sure and sometimes more if there are more horses in the race.
  • Pick bets: Also known as parlays, these bets require you to choose the winner of multiple races. If you predict the winners of two races, that’s a double. Predict the winners of three races and it’s a treble. Anything more than three selections will be a Pick 4, Pick 5, etc.

With pick bets, each horse you back has to win. Basically, you’re linking multiple bets and rolling them up into a single wager. This means the odds can be extremely long. However, the caveat is that each pick has to win. If one loses, the whole bet loses. That makes them tough to win but with a potentially large payout if you do.

In addition, an each-way parlay allows you to have horses that place as part of a winning bet. You also may be able to cash out a parlay before its natural conclusion. The book will give you a cash offer based on the status of your bet. If you accept, the book credits the money to your account and the bet ends (and the final result no longer matters).

  • Exotic bets: The final bets you may want to try at BetMGM Racing are the exotics. These include things such as exactas, trifectas and superfectas. The main premise of these bets is that you have to select multiple horses within a single race and predict the order in which they’ll finish. Like parlays, these can be tough to win, but the potential payoffs can make them worth it.

BetMGM Racing payment options

BetMGM Racing is a thoroughbred. That means it comes from impeccable stock and offers some of the best service. The companies backing it are all legal, licensed and reputable. This also means it offers a variety of secure payment options.

The minimum deposit is $10, and payments will process instantly. On the way out, the minimum withdrawal is $20, and the book should process requests within 24 to 48 hours.

BetMGM Racing payment methods

  • Mastercard
  • Visa
  • Discover
  • PayPal
  • Online banking
  • Electronic transfers
  • VIP Preferred e-check
  • M life Rewards Mastercard

Why should I join BetMGM Racing?

BetMGM Racing likely is worth checking out if you’re a fan of horses and want access to thousands of races each year. NYRA Bets has become one of the leading horse racing sportsbooks in the US since it launched in 2016. Now, thanks to its partnership with BetMGM, things are going to the next level.

As the two companies refine their product and develop new ideas, you can expect an even better service in the future. Because of this, BetMGM could become one of the leading horse betting sites in the US.