Globally recognized betting brand DraftKings is adding a racebook to its portfolio. Originally a daily fantasy sports provider, the company has been making inroads into other gambling arenas of late, and its new racebook is the next step. The name it has announced is “DK Horse.”
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Details are murky at this point, but it potentially could be live in time for the Kentucky Derby in May. What we do know is that it will be a pari-mutuel online wagering site, meaning winning bettors will share the prize pool for their particular bet. And it will likely field a large and diverse number of races. Plus, DraftKings already has experience developing a smooth and functional app for its online sportsbook and casino.
In this preview, we’ll go over what to expect from a DraftKings racebook when it comes to betting options, available races, potential bonuses, customer service, banking and more.
DK Horse welcome bonus
It’s possible DraftKings might offer some sort of second-chance bet to new customers at DK Horse.
If that ends up being the case, for example, if you sign up for a new account and place a $100 bet on a race and that bet loses, you would receive a refund in the form of a bet credit that you could use at the racebook. You would then need to wager that bet credit, and if you won, any winnings would be yours to do with as you wish.
DraftKings does not require a code to claim the welcome bonus at its online sportsbook or casino, so the same may be the case for its online racebook.
DK Horse rewards program
DraftKings’ rewards program for its online sportsbook is called Dynasty Rewards. If DK Horse participates in the same program, bettors will be able to accrue DraftKings Crowns and tier credits with each wager they place. The tier credits will provide access to benefits like weekly prize chests, exclusive contests and priority customer support. Additionally, bettors can redeem Crowns for site credits and experiences.
Other promotions and contests at DK Horse
In addition to its loyalty program, DraftKings also offers one of the top sportsbook promotions via its online betting app and other gambling platforms. While we’ll have to wait to see exactly what the racebook offers, it’s possible it will have promos related to big events like the Preakness Stakes or the Kentucky Derby.
You’ll be able to check on the DK Horse website for the most up-to-date promos. You may also be able to claim a bonus for referring a friend who signs up for a new account.
DK Horse software overview
DraftKings has yet to launch its horse betting site, but it already has solid experience with providing betting via its online sportsbook and casino. If DK Horse ends up operating in a similar fashion, you’ll have a good idea what to expect from the online racebook.
One of the strong points of the DraftKings Sportsbook app is its betting carousel that customizes itself based on your wagering history and preferences. We’ll have to wait to see if DK Horse offers something similar.
DK Horse live streaming
DraftKings already has some action available for streaming on its sportsbook app, so that is also something that the racebook may offer. In the case of the sportsbook, the streaming option is free to users with an active account. For your account to be active, you need to have a positive balance or have placed a bet in the past 24 hours.
For the sportsbook, the streaming option is available on both the website and app, although it is easier to watch multiple races simultaneously on the larger screen of a desktop monitor. You can also watch in a mini player so you can track your bet at the same time or watch it full screen to focus entirely on the action.
DK Horse app
Provided DK Horse launches an app — which seems likely given that it already has one for its sportsbook and casino and another for its daily fantasy sports platform — then it will likely be available for both iOS and Android devices. For downloading it, you’ll likely be able to start the process via a link on the DK Horse site.
Available races at DK Horse
In addition to domestic races, you also may be able to wager on international races at DK Horse, for instance ones taking place in Australia and England. Options may include harness racing as well as thoroughbreds. If all that ends up being the case, you should have betting options available for most times of day.
Types of bets you can place at DK Horse
Provided DK Horse offers all the standard racing bets, that will include two main types of bets: straight wagers and exotic wagers. These range from the basic “win” wager to the extremely risky pick 6. Here is a breakdown of the most common bets you are likely to come across:
Straight wagers:
- Win: Pick the first-place horse.
- Place: Pick a horse to finish in either first or second.
- Show: Pick a horse to finish in either first, second or third.
Exotic wagers:
- Exacta: Pick two horses to finish first and second in the same race. You must get the order correct as well as the horses.
- Quinella: Similar to an exacta, but the horses can finish in either order.
- Trifecta: Choose horses to finish first, second and third in that exact order.
- Superfecta: Like a trifecta, but trying to pick the horses that will finish in first through fourth in the correct order.
You’ll also likely be able to modify your wagers with options such as the box, key or wheel. These cost extra, but they offer insurance if you are unsure that the race will result in the exact order you wagered on.
- Daily double: Wager on the first-place winners of two consecutive races, typically the first two that take place that day.
- Pick 3, 4, 5, 6: Pick the winners of up to six consecutive races for a large potential payout. Often, the pick 6 wager will not cash a winner on that particular day, and the prize will roll over to the next.
Other betting options
DraftKings made its name in daily fantasy sports. Now that it is adding a full-fledged racebook to its portfolio, we’ll have to see if that interacts at all with its other products. Right now, the products are entirely separate. There is no shared liquidity or player pool among DraftKings’ player bases, and you’ll need a separate account for each one you want to use.
How to deposit and withdraw at DK Horse
DraftKings offers various banking methods for online sportsbook and casino accounts, so we’ll have to see if the same holds true for its racebook. Importantly, it does support deposits and withdrawals via PayPal on its existing platform. Here is a full rundown of the deposit methods that will potentially be available at DK Horse:
- ACH transfer — Lets you deposit funds from your bank account directly to your player account.
- PayPal — Deposits usually happen instantly, and withdrawals are very fast, as well, typically taking only a day or two to hit your bank account.
- Credit/debit card — DraftKings does technically allow you to fund your account with a Visa or Mastercard, but we found that acceptance is hit or miss depending on your state. Also, there is a 3.75% credit card transaction fee if you use this option.
- Wire transfer — You can deposit via wire transfer by reaching out to a customer service rep via email. This tends to take a few days but is a secure and reliable deposit method.
- Check by mail — You can mail a check to DraftKings customer service to fund your account, but as you can imagine, this is the slowest deposit option.
- PayNearMe — Visit a 7-Eleven or CVS to deposit funds. You will incur a $4 fee for using this service, although the funds do appear in your account instantly.
Here are the potential withdrawal methods:
- PayPal — PayPal withdrawals are the easiest way to cash out, and the funds tend to appear in your bank account within a day or two.
- ACH transfer — You can initiate an ACH transfer to your bank account by visiting your online profile at the racebook.
- Check by mail — Correspond with a customer service rep and you will be able to request a withdrawal via check. DraftKings will mail the check within five business days of verifying the transaction.
DraftKings takes steps to secure your transaction, and it doesn’t store any personal financial details on its servers.
Who will be able to legally bet at DK Horse?
Online horse race betting is legal in the majority of the states in the US. Here are the current states where you can open and utilize an online racebook account, although there’s no assurance that DK Horse will be available in all of these states, particularly right when it’s getting started:
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Idaho
- Illinois
- Indiana
- Iowa
- Kentucky
- Louisiana
- Maryland
- Massachusetts
- Minnesota
- Montana
- New Hampshire
- New Mexico
- New York
- North Dakota
- Ohio
- Oregon
- Rhode Island
- South Dakota
- Vermont
- Virginia
- Washington
- West Virginia
- Wyoming
You must be at least 18 years old to bet on horses in most states, although a few require you to be at least 21. Check your local regulations to ensure that you can wager legally.
Why to choose DK Horse by DraftKings
As it has yet to launch, it’s impossible to tell at the moment how the new DraftKings racebook will stack up compared to more established online horse betting providers like TVG and TwinSpires.
However, the DraftKings name gives it some credibility, as the company is already well-established in daily fantasy sports, online sports betting and online casino gambling. Provided even some of that experience and quality transfers over, DK Horse will likely be a racebook at least worth checking out.