FanDuel, the leading sports betting site, offers welcome promos on its horse racing platform, FanDuel Racing. New customers across any locations can sign up and earn a $500 No Sweat First Bet on their first horse racing wager.

The offer is simple to navigate and only requires a cash bet of any size on any race or track. Additionally, there aren’t restrictions on the type of wager so it can be a single win bet, trifecta, Pick 4 or any other type of horse racing market.

If your bet wins, you profit cash and keep your stake just like any other bet. Likewise, a miss is covered with a FanDuel racing credit up to $500 which is valid for seven days in your FanDuel Racing account.

You can click this link or use the module below to find the FanDuel Racing offer on the sign-up page.

Whether you’re in a standalone horse racing state or a state that offers both horse racing and sports betting, you’ll find FanDuel Racing in AR, AZ, CA, CO, DE, FL, ID, IL, IN, KY, LA, MA, MD, MI, MN, MT, ND, NH, NM, NY, OH, OR, PA, RI, SD, VA, WA, WV and WY.

While any race qualifies, the Preakness Stakes is one of the biggest horse racing events on the sports calendar. It takes place at Pimlico Race Course in Baltimore and is the second leg of the historic Triple Crown.

The Triple Crown is the honor given to a horse that can consecutively win the Kentucky Derby, Preakness Stakes and the Belmont Stakes. Only a few horses have had the honor of winning the Triple Crown.

The Preakness takes place on Saturday, May 18 with Mystik Dan the new favorite to win at 5-2. Mystik Dan, the winner of this year’s Kentucky Derby, is still in the running for the Triple Crown.

FanDuel often provides some sort of No Sweat First Bet offer which is incredibly simple to activate. FanDuel has a reputation of being user-friendly with its interface and welcome offers.

You’ll need to be a first time user of any FanDuel product, whether it’s FanDuel Racing or the sportsbook, to qualify. Once you set up a new account, place a cash bet on any type of horse racing wager and qualify for the No Sweat First Bet.

Let’s say I placed $500 on Mystik Dan 5-2 to win the Preakness. While the odds may change over the course of the day, let’s assume they stay at 5-2 for this example.

A win would profit $1,250 and return my $500 stake. I would now have $1,750 in cash in my FanDuel Racing account that I can use on other races or withdraw to my bank account.

If I lose, FanDuel Racing deposits a $500 racing credit to my account within 72 hours. I’ll have seven days to use this racing credit across any races or tracks I prefer within the platform.

Age and residency restrictions apply. See terms at racing.fanduel.com. Gambling Problem? Call 1-800-GAMBLER.