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The Belmont Stakes is the final leg of the world-renowned Triple Crown.
Usually held at Belmont Park, the race is often called “The Test of the Champion” and has seen some of the most prestigious thoroughbreds take part over the years.
This year, it’s being held at Saratoga while Belmont is refurbished, but this won’t get in the way of it being one hell of a race.
Now, let’s look at how to bet on the Belmont Stakes and include information on betting markets, prop bets, past winners, calculating odds and payouts, and expert betting strategy.
What are the Belmont Stakes?
There are few bigger races in horse racing than the Belmont Stakes, which has been running since 1867. Given that it’s the third race of the Triple Crown, for many, it’s the highlight as it’s the last chance any of the horses will have of writing their names into history.
Apart from five races in the 1960s and the upcoming in 2024 race due to renovation work, Belmont Park has played host to the race. The track measures 1.5 miles (12 furlongs) and is the longest of the three. It’s a tough race, which favors horses with both speed and stamina to stay the distance.
The race can only be entered by 3-year-olds, including colt/geldings (126 pounds) and fillies (121 pounds), which means that horses can only compete once in their career. Since 1919, there have been just 13 horses that have completed the Triple Crown, with Justify the most recent in 2018. American Pharoah, the 2015 winner, was the first in 37 years.
Prize Money
Prizemoney for the Belmont Stakes sits at $2 million, which makes it one of the richest races in the country.
The breakdown is unique and is heavily stacked for the winner, taking home $1.2 million of the total purse, with the second dropping to $360,000.
Here is a breakdown of how the money at the Belmont Stakes is distributed.
| Position | Prize money |
| 1 | $1.2 million |
| 2 | $360,000 |
| 3 | $200,000 |
| 4 | $200,000 |
| 5 | $60,000 |
| 6 | $40,000 |
| 7 | $20,000 |
| 8 | $20,000 |
Even though prize money for the race is vast, it’s nowhere near that of the Kentucky Derby, which saw a big jump in 2024 to a $5 million total purse.
The Belmont is worth more than the Preakness Stakes, however, unlike the Preakness that pays the top five, the Belmont pays the top eight, meaning that most horses will get some prizemoney given the 2024 field size is 10.
Here’s a breakdown of how the Belmont Stakes compares:
| Race | Date | Purse (2023) |
| Kentucky Derby | May 4, 2024 | $5 million |
| Preakness Stakes | May 18, 2023 | $2 million |
| Belmont Stakes | June 10, 2023 | $3 million |
Get access to a huge range of Belmont Stakes prop bets at Bovada today.
Belmont Stakes Example Bet
The best way to explain how to place a bet on the Belmont Stakes is to look through an example. To do this, we’ve got the 2024 racecard below, along with the runners, riders, and odds.
| Post | Horse | Jockey | Morning Line Odds |
| 1 | Seize the Grey | Jaime Torres | 8-1 |
| 2 | Resilience | Junior Alvarado | 5-2 |
| 3 | Mystik Dan | Brian Hernandez Jr | 3-1 |
| 4 | The Wine Steward | Manny Franco | 10-1 |
| 5 | Antiquarian | John Velazquez | 7-2 |
| 6 | Dornoch | Luis Saez | 5-1 |
| 7 | Protective | Tyler Gaffalione | 30-1 |
| 8 | Honor Marie | Florient Geroux | 15-1 |
| 9 | Sierra Leone | Flavien Prat | 9-5 |
| 10 | Mindframe | Irad Ortiz Jr | 7-2 |
The key column to note is the morning line.
Because US-based racebooks use a parimutuel betting system, you don’t know what odds you’ve taken on a horse until after the race. This is a pool system where bettors wager into the pool and then are awarded a dividend based on the total amount in the pot and the number of winning tickets.
The handicapper sets the morning line odds, usually the day or the morning before the race. These should be used as a guide based on the horse’s form and weight it will be carrying for the race. The odds usually aren’t too far off, as you can see here, but it’s important to know these aren’t the exact returns.
The final odds are ones that are calculated after the race. This is the amount each bettor will be paid per $1 stake. The odds format for this is in decimals, as the dividends are easier to calculate to get an accurate reading.
So, if we placed a $100 bet on Mystik Dan to win at 3/1, our payout would look like this:
- $100 x 3 = $300 Total + $100 stake = $400 returned for a $300 profit
Some racebooks will show odds in American format, which would be +300 for Mystick Dan and winnings calculated the same way.
How to Read Belmont Stakes Odds and Calculate Payouts
Let’s look at how parimutuel betting systems work so you can understand how racebook payouts work.
We first need to know the total amount wagered on each horse. So, let’s assume this race has eight runners with a total amount wagered on each horse as follows:
- Horse 1 = $5,000
- Horse 2 = $8,000
- Horse 3 = $12,000
- Horse 4 = $1,000
- Horse 5 = $10,000
- Horse 6 = $15,000
- Horse 7 = $9,000
- Horse 8 = $4,000
The cumulative amount wagered on this race is $64,000. The racebook will then take a commission from the total pot, which ranges depending on where you bet. For this example, we will set the commission at 10%, which is about average.
This means that our total pot has shrunk from $64,000, minus the $6,400 commission, to $57,600.
The next stage is to find the dividend of each horse. To do this, we divide the total amount in the pot by the amount wagered on each horse.
- Horse 1 = $57,600 / $5,000 = 11.52
- Horse 2 = $57,600 / $8,000 = 7.20
- Horse 3 = $57,600 / $12,000 = 4.80
- Horse 4 = $57,600 / $1,000 = 57.60
- Horse 5 = $57,600 / $10,000 = 5.76
- Horse 6 = $57,600 / $15,000 = 3.94
- Horse 7 = $57,600 / $9,000 = 6.40
- Horse 8 = $57,600 / $4,000 = 14.40
The numbers here are the dividends for each horse, essentially the odds. Let’s assume we place a $100 bet on Horse 6 to win, and they duly oblige. Our returns would look like this:
- $100 * 3.94 = $394.00 Total – $100 stake = $294.00 profit
Keen to get the best possible odds on horse racing? Check out BetOnline.
Belmont Stakes 2023 Real World Example
We’ve taken the result from the 2023 Belmont Stakes to show how this works in the real world.
| Position | Horse name | Win | Place | Show |
| 1st | Arcangelo | $17.80 | $7.20 | $4.90 |
| 2nd | Forte | $4.30 | $3.30 | |
| 3rd | Tapit Trice | $4.10 |
This is how a pay table will look for any race in the US. These numbers are dividends based on a $2 bet, showing the total return (not the profit).
So, if we’d bet on Arcangelo to win, our $2 bet would return $17.80 and make us a profit of $15.80. This means that for every $1 wagered, we would return $7.90 ($15.80 / 2).
The same principle applies to all horse racing betting markets, including the place and show bet. Therefore, a $2 bet for Tapit Trice to win would return $2.10 ($4.10 – $2).
How to Bet on the Belmont Stakes Step-by-Step Guide
To show how to bet on the Belmont Stakes as a step-by-step guide, we’re going to use BetOnline, which is one of the best horse racing platforms in the industry. As the race draws nearer, more markets will become available, and the main racecard will move from a futures bet to active.
Open an Account
Before you place a bet, you need an account. To get started, click through our link above and once on their website click the green “Join” button. You can complete this step using online and mobile betting sites.
Complete Account Forms
To create an account, you need to fill in the forms on the screen. This includes information like name, address, email address, and password. The process is very quick and should take no more than a couple of minutes.
Make a Deposit
Once the account has been created, head back to the sportsbook and log in. Click the “Cashier” button at the top of the page and choose any payment method. Use the BetOnline promo code linked to the offer you want to claim.
Locate the Racebook
Head back to the main page and use the menu section at the top to locate the racebook. Click this link and use the menu section down the left to find the racetrack’s name. It’s worth noting that the Belmont Stakes won’t be listed as a race but instead under the name of the track, Saratoga.
Place a Bet
When the race is accessible, use the top section of the racecard to find the race number and choose the market you want to bet on. Enter your stake into the column for the market next to the horse you want to bet on. Click on “Add to Bet Slip” and confirm the stake.
Belmont Stakes Betting Markets
The growth of online sportsbooks has marked a huge increase in the range of markets. There are literally dozens to choose from, although some sites have more coverage than others.
Below, we’ve created a list of all the betting markets you can access with the Belmont Stakes and provided a short overview of each work.
- Win bet: The win bet is where you bet on the horse to win the race. They must finish first, and any other result will be deemed a loss.
- Place bet: The place bet is where you choose a horse to finish first or second. The order they finish is irrelevant as long as they are in the top two spots and will pay the same regardless.
- Show bet: This is where you bet on a horse to finish with the top three positions. Like the place bet, they can finish in any order and will be paid the same.
- Across the board: An across the board bet is a win, place and show bet on one ticket.
- Each-way bet: An each-way bet is a popular UK betting market that covers the win and the place. The bet is split in two, where half the stake is on the win and half the place.
- Exacta: An Exacta requires the bettor to pick two horses to finish first and second in the correct order.
- Quinella: The Quinella requires the bettor to pick two horses to finish first and second in any order.
- Trifecta: A Trifecta is where the bettor must pick three horses to finish first, second, and third in the correct order.
- Superfecta: An extension of the Trifecta, the Superfecta requires the bettor to pick four horses to finish first, second, third, and fourth in the correct order. This is a tough bet to call, but it pays incredibly well if successful.
- Daily Double: Choose the winners of two consecutive races at the same meeting. This market is usually linked to the first two races but can be applied to any races within the meeting as long as they run concurrently.
- Pick 3/4/5/6: Pick bets are an extension of the Daily Double, where you pick the winners of multiple consecutive races within the same meeting. The number represents how many races you need to choose.
- Box bet: Exotic bets can be boxed to allow multiple combinations in finishing positions.
- Key bet: This is where you can lock one horse into a position and have multiple horses to finish in any of the remaining positions for the bet. For example, in a Quinella, you could “key” one horse to win and pick three other horses to finish second.
- Futures: Bets on races that occur more than 24 hours before the start of the race.
Belmont Stakes Prop Bets
One of the best things about races like the Belmont Stakes is the increased exposure. Racebooks are keen to jump on this and create a host of prop bets that you usually wouldn’t find on most domestic races.
In this section on how to bet on the Belmont Stakes, we’ve created an overview of prop bets that are specifically linked to the race and explained how they work.
- Winning time: This is the official time of the winning horse you bet on the over or under of.
- Margin of victory: Bet on the length of the margin of victory. Some betting sites will have bracketed results for this, and others will have an over or under line.
- Triple Crown winner: You can bet on this before the start of the Preakness Stakes, which is the first leg of the Triple Crown. The winner will be decided here as the Belmont Stakes is the final leg.
- Lead changes: This market is all about the number of times the lead changes in the race. Most sites will only have this market to include the final three furlongs, as scoring earlier in the race can be hard.
- Head to head: The racebook will choose two horses in the race to go head to head. You only need to pick the highest finishing horse from the pair. They do not need to win the race to win this market.
- Top finish by a filly: You can bet on whether a filly will finish in the top three positions or on the filly to finish the highest from the whole field.
- Winning trainer: Instead of the winning horse, you can bet on the winning trainer. This only works if there is a trainer with multiple horses in the race otherwise, you may as well just choose the horse.
- Will there be a photo finish? Simply bet on whether there will be a photo finish in the race.
- Field size: Bet on the number of horses to start the race. Note that this will be determined by starters and not finishers. So, if a horse starts but pulls up and does not finish, they will still count. This is a good market to back early before horses get scratched.
- Color of the winning horse: Bet on the color of the winning horse. This could be brown, black, white, or grey.
For the biggest range of regular and prop bets, check out BetOnline right now.
Past Belmont Stakes Winners
The Belmont Stakes has been the stage for some of the most remarkable feats in thoroughbred racing. One of the most iconic winners is Secretariat, who in 1973 not only won the Triple Crown but also set a world record for a mile and a half on dirt, a record that still stands. His 31-length victory remains one of the most astonishing performances in horse racing history.
Another notable Triple Crown winner was Seattle Slew in 1977. Unlike Secretariat, Seattle Slew was undefeated when he won the race, priced at odds of just 1/10, which is remarkable given the quality of the field.
In 1978, Affirmed captured the Triple Crown, famously battling with Alydar in all three races, with their Belmont Stakes showdown being one of the closest and most exciting races in the sport’s history. The most recent Triple Crown winner, American Pharoah, in 2015, ended a 37-year Triple Crown drought and captivated a new generation of racing fans.
The table below showcases the winners of the Belmont Stakes since 2023.
| Year | Winning Horse | Jockey | Trainer | Morning Line Odds | Prize Money Won |
| 2013 | Palace Malice | Mike E. Smith | Todd Pletcher | 15-1 | $600,000 |
| 2014 | Tonalist | Joel Rosario | Christophe Clement | 8-1 | $800,000 |
| 2015 | American Pharoah | Victor Espinoza | Bob Baffert | 3-5 | $800,000 |
| 2016 | Creator | Irad Ortiz Jr. | Steve Asmussen | 15-1 | $800,000 |
| 2017 | Tapwrit | Jose Ortiz | Todd Pletcher | 5-1 | $800,000 |
| 2018 | Justify | Mike E. Smith | Bob Baffert | 4-5 | $800,000 |
| 2019 | Sir Winston | Joel Rosario | Mark E. Casse | 10-1 | $800,000 |
| 2020 | Tiz the Law | Manny Franco | Barclay Tagg | 6-5 | $800,000 |
| 2021 | Essential Quality | Luis Saez | Brad Cox | 2-1 | $800,000 |
| 2022 | Mo Donegal | Irad Ortiz Jr. | Todd Pletcher | 5-2 | $800,000 |
| 2023 | Arcangelo | Javier Castellano | Jena M. Antonucci | 8-1 | $900,000 |
Belmont Stakes Betting Strategy
The Belmont Stakes can be a tough race to call. It attracts the best of the best from the 3-year-old horse racing world and, therefore, gives merit to all the runners as to why they might win.
Like all races, applying a solid betting strategy is still important. When we look at how to bet on the Belmont Stakes, we must remember that any bets must be profitable. Use the strategy below to have the best chance of coming out as a winner.
Dutching
Dutching is a strategy that allows bettors to spread their risks across multiple horses. This is particularly effective in a race like the Belmont Stakes, where unexpected outcomes are common.
For example, in a race with two strong contenders, say, at odds of 3/1 and 5/1, a bettor could allocate their stakes across both horses to ensure a profit regardless of which horse wins. This technique was applicable in the 2021 race, where backing both Essential Quality and Rombauer could have resulted in a guaranteed return.
The use of a Dutching calculator is paramount for this. You can enter the odds for each horse and the total stake, and it will tell you exactly how much to bet on each for an equal return. The earlier you can place a bet (using futures betting markets), the better your chance of creating a profitable Dutch.
Don’t Underestimate Research and Analysis
The importance of research and analysis cannot be overstated. This involves thoroughly studying each horse’s track record, jockey performance, and even the track conditions on the day.
For example, in the 2018 Belmont Stakes, Justify was the favorite at odds of 4/5, and his history of performance in similar conditions made him a strong bet. Bob Baffert’s expertise in preparing horses for big races further added to Justify’s appeal.
Shop Around for the Best Odds
Finding the best odds is a strategy that involves seeking out the most favorable betting lines across various bookmakers. This can significantly impact potential returns.
In the 2020 race, Tiz the Law was a clear favorite, but his odds varied across bookmakers, ranging from 4/5 to 6/5. Identifying and betting with the bookmaker offering the highest odds would have maximized returns when he won.
Also, look for promotions like boosted odds and horse racing rebates. Most racebooks jump on the fact that many bettors are casuals when it comes to the Belmont Stakes, so ramp up the promotions as a result.
Past Winner Characteristics
Finally, analyzing the characteristics of past winners can offer insights into potential winners. Trends such as performance in previous Triple Crown races, the experience of the jockey and trainer, and even breeding can be informative.
Notably, American Pharoah in 2015 and Justify in 2018 were favorites with odds of 3/5 and 4/5, respectively, and their victories in the Kentucky Derby and Preakness Stakes were strong indicators of their potential success in the Belmont Stakes.
FAQs
What is the Belmont Stakes?
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References
- https://www.belmontstakes.com/ (Belmont Stakes)
- https://www.ifhaonline.org/default.asp (IFHA)
- https://www.ntra.com/ (NTRA)
