123bet Racebook Review & Bonus Code 2020
25% of the first deposit
123Bet is one of the legal race betting sites licensed and regulated in the US. It offers wagers on horse races and supports live racing video streaming from around the world. It operates with a license from the North Dakota State Horse Racing Commission. 123Bet currently serves bettors from 22 states in the US.
In this 123bet review, we have provided all you need to know about the racebook. You will get information about the bonuses and promotions offered, types of bets, and the banking methods.
How to choose a horse racing betting site
To make your gaming or gambling experience smooth, you must look for a trustworthy and reputable US betting site. You can do this by checking honest reviews online to see what experts have to say about the sites. Check for what license the site operates with and how safe it is. Also, visit the site to check the racing coverage, the bonuses and promotions, and the banking options. We have touched all these aspects in this 123bet online review.
123bet Bonus Offers and Promotions
One major feature gambling sites use to attract bettors is the bonuses and promotions they offer. 123bet also offers a few bonuses for players to enjoy. The site gives out seasonal bonuses from time to time but also offers standard bonuses. The two main standard bonuses are the welcome bonus and the refer a friend bonus. You will discover more about these bonuses below.
First Deposit bonus
123bet offers you 25% of your first deposit on the site. You must deposit a minimum of $50 to qualify for the bonus. For instance, if you deposit $100, you will get a bonus of $25 to wager with. Only new users are eligible for the bonus and it is prohibited for anyone to try to claim the bonus more than once. Also, you can claim an additional 25% bonus money if you wager a minimum of $1,000 within 30 days.
You must enter the 123bet promo code to get this bonus. The bonus amount will be credited to your account but will not be available for withdrawal immediately. You will have to wager the 123bet bonus and your deposit amount through once at odds of 1-2 or higher within 30 days. Unused bonus funds after 30 days will be deducted from the account. Show bets do not contribute to the wagering requirement of the bonus.
The bonus code for the first deposit offer is FRIENDS10.
Refer a Friend Bonus
Another 123bet bonus you can enjoy is the referral bonus. You can get up to $50 when you invite someone to register on the site. The invited person will have to input your referral code while signing up. The 123bet promo code for this is usually in this form: FRIENDXXXX. The XXXX represents the last four digits of your account number.
Both you and the invited friend benefit from this promo. When your friend signs up with your referral code, he or she is eligible for $10 free wager money. This bonus money will only be received after your friend makes a deposit and wagers over $500.
You can only get the referral bonus 5 times. That is, you can get a maximum of $250 from this promo.
Loyalty Programs on 123bet
Unlike many gambling sites and online casinos, 123bet currently does not offer a well-structured VIP program. Nevertheless, it still features some bonuses to reward regular bettors on the site. These include weekly and daily rewards, and also seasonal promotions. Some of these offers have been explained below
Daily Cash Rewards
123bet rewards players for their daily activities through cash bonuses. Every day, users will get a bonus which is determined by the total amount of money used to place wagers the previous day. So, all it takes to get this bonus is to wager on the previous day.
Also, users can get weekly VIP rewards. The weekly VIP reward is given on Mondays and is based on the total amount of money wagered by the user during the previous 7 days. Thus, players must wager each day for 7 days to this bonus on Monday.
No Fees Bonus
This is another generous offer from 123Bet. When you deposit $100 or more, you will have the deposit fees reimbursed to you. But you cannot withdraw the funds after you opt-in for this offer. You must wager from the funds before requesting a withdrawal.
Many more promotions are offered from time to time at the racebook. To keep yourself updated on the promos, you can visit 123bet directly.
Types of Horse Races 123Bet offers wagers on
As the name implies, it involves Thoroughbred Horses which are specially bred for this purpose. The two main types include the thoroughbred flat racing and the thoroughbred jump racing.
Thoroughbred flat racing is done on flat tracks that are made up of turf, dirt, or synthetic materials. It is very common in the United States. There are many popular thoroughbred flat races including the Kentucky Derby, Belmont Stakes, and Preakness Stakes. These races range from 0.25 miles to 1.5 miles in distance.
Thoroughbred jump racing involves longer distances and the horses have to clear obstacles like water and hurdles on the way. It ranges from 2 miles to 4.5 miles in length. They are usually referred to as National Hunt or Steeplechases racing, depending on the style.
This is a form of racing where the horses run at a particular pace. The horses usually pull a sulky (a light two-wheeled vehicle). There are two types of Harness horses and the differences are in the gait. These two horses are the pacer or pacing horse, and the trotter or trotting horse. The pacer moves with both legs on a side of its body simultaneously while the trotter moves with the left front and right rear leg forward at the same time.
- Quarter Horse
This kind of racing involves distances up to a quarter-mile or less. American Quarter Horses are specially bred to partake in these short distance races. At full sprint, the horses can get to about 55 miles per hour in speed. There are more than 3 million American Quarter Horses currently registered, this makes it the most popular breed of horse.
Different ways to make horse racing bets on 123bet
The betting markets available in horse racing are quite different from the ones in other sports. While you’ll find wagering lines in other sports, in horse racing, it is a pari-mutuel betting. That is, the total wagers are accumulated and the total amount (the pool) is split between the winning tickets. Based on this, different bet types are offered at the 123bet racebook.
There are three major forms of horse race bets on 123bet. These include single horse bets, multiple horse bets, and multiple race bets. These three major forms are split into smaller types. We have explained briefly the bet kinds available on 123Bet below.
This is the first kind of single horse bet and the most straightforward type. It involves placing a bet on the horse you think will cross the finish line first.
Place is another single type of bet. You have to wager on the horse that will finish either first or second.
This adds an extra spot to the place bet. You win this bet if your chosen horse finishes first, second, or third.
This kind of bet involves selecting two horses. It is a multiple horse bet. You must choose the horses that will finish first and second in the right order.
You can also box your exacta bet. Boxing gives you an alternative in case the horses did not finish in the order in which you selected them. If your bet is boxed and the two horses you picked finished in the first two without being in the right order, you still win the bet. However, your wager when the bet is boxed is double of what you place when it is a straight exacta bet.
This bet requires you to choose four horses to finish first, second, third, and fourth. All horses must finish in the order in which you chose them. This kind of wager is usually difficult to win but pays out a huge prize. You can also box it to provide more chances of winning.
Trifecta is also a kind of multiple bet like exacta and superfecta. You have to select three horses to finish in first, second, and third. This bet can also be boxed to cover 6 likely combinations of the selected horses.
- Pick 3-4-5-6
These kinds of wagers are the multiple-race wagers. A pick 3 wager is when you select the winning horses in three different races. All the selections are made before the beginning of the first race. To win this, all 3 selected horses must win in their race.
Likewise, Pick 4, 5, and 6 involves choosing the horses to win in the corresponding number of races. For instance, in the Pick 5 bet, you must select the winners in 5 different races with a single ticket. Your selected winners for each race must all win for your ticket to be successful.
These kinds of bets are costly and very difficult to hit, but they pay handsomely. The pick 6 wager pays more but is the hardest to hit. The multiple races require plenty of luck, skill, and money management.
How to download 123bet Mobile App
You may wish to download the 123bet app on your mobile devices but the racebook does not offer a downloadable app. It offers a special platform for mobile betting that is compatible with different mobile devices. The mobile platform can be accessed with a browser on android and iOS devices. It offers the same features as the desktop version but only makes it easier to use on mobile.
You may be able to download 123bet android app or for iOS in the future. We will update this page as soon as 123bets allows users to sign up for mobile betting accounts.
123bet Banking Methods
Like other US Racebooks, 123bet offers different banking methods. You can deposit via ACH, Visa, Mastercard, Wire Transfer, payment at Bank of America locations, and electronic payment services like PayNearme and Pin Pocket. The minimum deposit is $10.
There is a $1 additional charge per deposit transaction made via ACH while the banking institution may also charge an extra fee. The maximum deposit via ACH is $5,000. For credit cards deposit, there is an extra charge of 4.5% free by the racebook and the card company may also charge.
For withdrawals, only two methods are available. You can withdraw via ACH, or request a check via fax, email, or through the 123Bet racebook site. Withdrawals via ACH may take 3 to 5 banking days to clear in your account.
123bet Customer Service
We are not impressed with the customer service offered at 123bet. The site has no live chat support to allow instant communication. Players can only reach the customer service officers via a telephone number and an email address. The customer service only operates from 9 am to 10 pm EST daily.
Another discouraging part of the customer service is the lack of an FAQ section. Unlike other betting sites that already provide answers to the most likely questions, 123bet has nothing of such. That means you will have to contact the support team via email or phone every time you need to get answers. We do hope the racebook will look into this and improve in the future.
In which states can you bet on 123bet Racebook?
123Bet currently accepts bettors from 22 states in the US. These states are:
- New Hampshire
- North Dakota
- Puerto Rico
- Rhode Island
- US Virgin Islands
- West Virginia
123bet Reputation in the US
Out of 50 states in the US, online horse racing betting is legal in 41. 123bet race betting is only available in 22 of these states which means its coverage is not that large as other US Racebooks. Although its services are quite fair, it still cannot be compared to other Racebooks like TVG, XpressBet, AMWager, Nyra Bets, and Twinspires.
COVID-19 Impact on 123Bet
Due to the actions taken by different authorities to contain the spread of the novel coronavirus, different horse racing events had to be postponed. This caused the reduction in betting options available on 123bets as well as other Racebooks. It also caused a reduction in race bet revenue for many racebooks. Some tracks opened up in late May and June to continue racing but without spectators.
Last Thoughts on 123bet Racebook
123Bet may not be one of the best online betting sites but it still offers a fairly good platform. Although it may not offer the best welcome bonus or a risk-free first bet, some promos can still give you more money to make bets. You also get bonuses for inviting your friend to use the racebook. Why not give the racebook a try and take advantage of the bonuses.
Is 123bet online racebook legal in the US?
- Yes, 123bet is legal in the US. It is licensed and regulated by the North Dakota State Horse Racing Commission.
How old should I be to bet on horse races?
- This depends on the states from which you are playing. The legal betting age in some states is 18 while in many others 21. There are a few states whose legal betting age is 19.
Is there an Android app on 123bet?
- No, there is no 123Bet Android app. It offers a mobile compatible platform where you can place wagers.
What is superfecta?
- It is a kind of bet where you select four horses to finish in the right order. You get to win a huge cash prize if you win this bet.
How can I check odds on 123bet?
- Visit the site and create a new account if you don’t have one. Once you’re logged in, you will be able to see the 123bet racebook odds.