how can you bet on the kentucky derby
How to Bet on the Kentucky Derby⁚ A Beginner’s Guide
The Kentucky Derby is the most prestigious horse race in the United States, taking place annually on the first Saturday in May at the legendary Churchill Downs racetrack in Louisville, Kentucky․
Understanding Kentucky Derby Bets
The most common Kentucky Derby bets are the basic bets⁚ Win, Place, and Show․ These wagers usually offer the lowest risk and are recommended to new bettors․ The next level up, just outside of regular basic bets, would be your exotic bets⁚ placing a wager on more than one outcome whether it is betting on more than one race or betting on the consecutive finishers in a single race․
A win bet is the simplest bet you can make in horse racing․ You are simply picking the horse you think will cross the finish line first․
A Place wager is betting on a horse that you think will finish in first or second․ If the horse you bet finishes in one of the two top spots, you collect the amount shown in the place column․ This bet is less risky than a Win bet, but also offers a smaller return․
A Show bet is a wager on a horse to finish within the top three positions․ If the horse shows (finishes first, second, or third), this is a winning bet․ The payout is exactly the same, even if the horse finishes first or second․
Betting across the board is a combination of Win, Place, and Show wagers․ If you wager on a horse across the board, you are betting them to Win, Place, and Show․ If the horse wins the race, then you collect the payouts displayed on all three bets․ Instead of it being a wager costing $2, this bet will actually cost $6 to bet, as you are making three combined bets at once․
This is a combination wager, and at the $2 base will cost you $4 to bet․ You are wagering on a horse to finish first or second (Win/Place), or within the top two or top three (Place/Show)․
Choosing Your Kentucky Derby Horse
The Run for the Roses is the biggest event in horse racing every year and here are some easy Kentucky Derby tips to follow before placing your bets⁚
Before the pandemic rescheduled the 2020 Kentucky Derby to September, the post-time favorite had won the Kentucky Derby six years straight from 2014 to 2019․ The 2020 winner Authentic was the third overall favorite at 8/1 odds while race favorite Tiz The Law 3/5 placed second․ It’s been a parade of long shots since, with Rich Strike at 80-1 topping them all in 2022․
Speed/Pacesetter: This is a horse that will be on the front end․ They are typically the quickest out of the gate and thrive on the lead․ Since 1875, there have been 23 wire-to-wire Kentucky Derby winners, meaning they have led at every point in the race, including 2020 champion Authentic․
Presser⁚ A horse likely to be up and on the pace, but not the one leading the race․
Stalker⁚ A horse most likely to stay off the pace, but close enough to strike early․
Closer⁚ A horse that sits well off the pace and makes one late stretch run․ Since 1875, there have been eight horses who have made a last-to-first rally in the Kentucky Derby․
Kentucky Derby Betting Odds Explained
Kentucky Derby odds can open shortly following the running of the previous Derby, with the top two-year-old prospects listed and odds to win the Derby assigned to each․ As these horses race through the remainder of the year and into the spring qualifying races as three-year-olds, the odds adjust to results, injuries, and betting action․ Once the field for the Kentucky Derby is set, oddsmakers narrow the futures to those competing horses and will move odds bases on betting action and practice runs heading into Derby Day․ There could be some significant odds movement following the post draw, which takes place the Saturday before the race․ Learn about how the post position affects odds and betting with our Kentucky Derby post positions guide ․
Kentucky derby horses and their odds are usually presented in an x-y format․ For example, 3-2 odds means a $2 wager pays $3․ On all bets, you win the payout amount, and your initial stake is also returned to you․ On this 3-2 bet, you receive back your $2 bet and the $3 winnings, walking away with $5․
Placing Your Kentucky Derby Bets
There are two ways to place a bet on the Kentucky Derby, either in-person at a racebook or track or online via a digital race and sportsbook․
The majority of states in the U․S; and all provinces in Canada allow for legal online betting on horse racing․ To bet on horse racing online you must sign up with a racebook and deposit into an account before placing any bets․ From there you can sort the daily races by tracks, race numbers, individual horse numbers, and bet types․
When placing an in-person bet on horse racing you need to have cash in hand to make the wager as well as know the track name, race number, horse number and type of bet you wish to place․
Kentucky Derby Betting Tips
The Run for the Roses is the biggest event in horse racing every year and here are some easy Kentucky Derby tips to follow before placing your bets⁚
Don’t Be Afraid to Bet Against the Favorite⁚ Before the pandemic rescheduled the 2020 Kentucky Derby to September, the post-time favorite had won the Kentucky Derby six years straight from 2014 to 2019․ The 2020 winner Authentic was the third overall favorite at 8/1 odds while race favorite Tiz The Law 3/5 placed second․ It’s been a parade of long shots since, with Rich Strike at 80-1 topping them all in 2022․
Know Your Horse Racing Terminology⁚
- Speed/Pacesetter: This is a horse that will be on the front end․ They are typically the quickest out of the gate and thrive on the lead․ Since 1875, there have been 23 wire-to-wire Kentucky Derby winners, meaning they have led at every point in the race, including 2020 champion Authentic․
- Presser⁚ A horse likely to be up and on the pace, but not the one leading the race․
- Stalker⁚ A horse most likely to stay off the pace, but close enough to strike early․
- Closer⁚ A horse that sits well off the pace and makes one late stretch run․ Since 1875, there have been eight horses who have made a last-to-first rally in the Kentucky Derby․
Watch the Weather⁚ Rainy spring weather can always be a factor on the first Saturday in May, though we’ve only seen fast tracks in Churchill since 2019’s sloppy rendition of the Kentucky Derby․ Be sure to keep an eye on the forecast leading up to race day, as the condition of the track can impact horses both positively and negatively․