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All posts by David MyersIf you are asking, “What does OTB mean in betting?”, it simply means “Off Track Betting”, and represents an avenue for horse racing betting that gives you far more convenience while wagering on horses.
There are a few things you need to know about OTB betting before you get started, and we cover all of them below. So, read on to learn more about how to integrate it into your racing endeavors.
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What Does Off Track Betting Mean?
What does OTB mean in sports betting? Off-track betting (OTB) basically refers to the option for horse racing betting fans to bet on races while they are not physically present on the race track – for example, with offshore sportsbooks or at designated OTB venues. It gives you more flexibility to make sure that you can get your bet on in time, as not everyone will be able to make it down to the tracks for every horse race.
In sports betting, OTB is common terminology for placing bets on races at designated OTB centers or through apps and crypto betting sites. Plus, it’s important not to confuse OTB (Off Track Betting) with “off the board,” which refers to a situation where a bookmaker removes a specific wager due to uncertainty or lack of information.
Is OTB Different from Betting at a Track?
Yes, off-track betting is different from wagering at the actual track. While you are achieving the same goal by placing bets on races you want to wager on, there is a big difference between the two.
That difference lies in the fact that at the track, having a wager involves physically attending the racing event, where bettors can directly see the horses, assess conditions, and experience the event in real time. On the flip side of that, OTB allows you to wager remotely, either at OTB facilities or online with reliable sportsbooks.
While being at the race track offers a more social experience, OTB sports betting is all about convenience, as you don’t have to travel anywhere to bet on horses. Plus, you will find that the markets and racing lines you have at the track and off-track betting online are virtually the same.
Is Off-Track Betting Online Legal?
The answer is yes, since the PASPA was overturned, states in the US allow for online betting which includes OTB. Online OTB in betting is legal in many parts of the US. In fact, most of the states in the US allow for legal OTB online betting or support offshore betting sites that have OTB.
Many states have regulated OTB sportsbooks that you can use, as well as retail OTB venues that may be closer to you where you can also place off-track bets. With that said, there are still a few states that are not too keen on OTB betting, and that’s why it’s important to check up on the legal standing in your own state. Plus, we will be touching on the states that allow for legal OTB shortly.
Types of Bets at OTB Sites and Retail Locations
OTB betting online gives you multiple different types that you can use. Just as you can find these at the track, you can find them with off track cash-out betting sites as well.
Win
Here, you are simply wagering on what horse will finish first. It is the simplest type of racing bet that you can place, but to be fair, it can still be tricky to predict which horse will win the race, so don’t take it lightly.
Place
A place bet is a wager on your selection finishing first or 2nd. If they finish in the top 2 places, your bet wins.
Show
In a show bet, you’re betting on your fancy to finish first, second, or third. This is a bet that gives you a very good chance of achieving a successful outcome.
Across the Board
An across-the-board bet combines the win, place, and show bets into one. Basically, if your horse finishes 1st, you win all three bets; if it finishes 2nd, you win with both; and if they finish 3rd, you win the show bet.
Exacta
In an exacta, you pick two horses to finish first and second in the exact order. This is a significantly more challenging bet than an across-the-board market.
Quinella
This is the slightly more forgiving version of the exacta, as the two horses you bet on can finish in any order, provided they are both in the top two places.
Trifecta
A trifecta bet involves picking three horses to finish first, second, and third in the exact order. It’s like the exacta but with an added step.
Superfecta
The superfecta requires bettors to predict the first four horses in the exact order. This is an incredibly risky bet, but if it pays off, your payouts are usually very significant.
Hi-5
The Hi-5 bet is about predicting the top five finishers in exact order. As you can see, the markets in this regard just get tougher and tougher.
Daily Double
A daily double is different from the previous markets, as you have to pick the winners in two consecutive races.
Parlays
Parlays involve multiple races and forming one bet. The selections you make are called legs, and the more legs you select, the bigger your potential payout.
Pick 3’s
A Pick 3 bet requires selecting the winners of three consecutive races. It’s like the daily double, but you need to get three right.
Boxing and Wheeling Bets
Boxing and wheeling bets allow you to cover more combinations. For example, in a boxed trifecta, you can pick three horses to finish first, second, and third in any order, which is more flexible than a standard trifecta. Whereas in a wheel bet, you bet on a horse to finish in a specific position.
Which States Allow Off-Track Betting?
As things stand, there are 40 different states that allow OTB off track betting. Here are some of the major states that offer OTB right now:
- Arizona
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Idaho
- Illinois
- Indiana
- Kentucky
- Louisiana
- Maryland
- Massachusetts
- New York
- Pennsylvania
- Virginia
Pros and Cons of Off-Track Betting
Once you understand the OTB meaning, you will quickly start to see what its pros are. Here are some of the key pros that we think OTB brings you, as well as a few cons.
Pros:
✅ Convenience: Bet from anywhere, as you now have no need to travel to your local track.
✅ Lower Costs: As you don’t have to hop in your car, you are saving on travel and even accommodation expenses.
✅ More Options: OTB sites give you ample promos and bonuses that you can claim that you won’t find at your local tracks.
✅ Legal in Many States: Several states offer safe and regulated OTB venues and safe betting sites for you to use, so they are easily accessible in most of the US.Cons:
❌ Lack of Atmosphere: The track gives you a very enjoyable social element with other bettors, and you also get the thrill of watching a live race. You won’t have this when you are betting online.
❌ No Visuals: You won’t be watching the races live, which removes some of the thrill. You also won’t be able to see the horses yourselves, to judge their condition with your own eyes.OTB in Sports Betting FAQs
What is the meaning of OTB?
How do you bet at OTB?
Does OTB take a percentage?
What is an OTB account?
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