Kentucky Derby Betting Guide
Kentucky Derby Betting Guide: Quick Picks
The 150th running of the Kentucky Derby took place on May 4, 2024, and it was Mystik Dan (18-to-1) coming away with a wire-to-wire victory.
Although the 2024 Kentucky Derby is behind us, there is still plenty of horse racing action to stay involved with, including the upcoming 2025 Kentucky Derby, Preakness Stakes and Belmont Stakes. Engaging with these events through various betting options can make the experience exciting and participatory. ScoresAndOdds has partnered with TVG and TwinSpires to provide some great betting offers. You can take advantage of these offers using the links in this article.
Introduction to Horse Racing
Horse racing is a thrilling equestrian sport that captivates audiences worldwide, and the Kentucky Derby at Churchill Downs stands as one of its crown jewels. To dive into Kentucky Derby betting, it’s crucial to grasp the basics of horse racing. This includes understanding the different types of bets you can place, such as win, place, and show bets, as well as more complex exotic bets like trifecta and exacta.
Expert picks and analysis can be invaluable, offering insights that might not be immediately obvious. Whether you’re a seasoned bettor or a newcomer, understanding these fundamentals can significantly enhance your betting experience and increase your chances of making a successful wager. So, before you place your bets, take the time to understand the sport, the horses, and the various betting options available to you.
2024 Kentucky Derby Results
1st: Mystik Dan
2nd: Sierra Leone
3rd: Forever Young
Mystik Dan marked a Kentucky Derby victory for famed trainer Kenneth McPeek, who is one of only five living trainers to win each race of the Triple Crown.
Brian Hernandez Jr., who was Mystik Dan’s jockey for the 2024 Kentucky Derby, earned his first-ever win in the race.
How To Use TVG’s Kentucky Derby Offer
In order to be eligible to receive the insurance bet, you’ll need to place an eligible wager. TVG defines eligible wagers as single-horse wagers, so exotic bets do not count. Examples of single horse wagers are bets to win, bets to win/place, bets to win/show, or bets to win/place/show.
With the TVG offer, we can benefit from less risk as a downside due to the insurance bet that’s being offered, so this is a time we might want to look at a long shot of a wager, which means going a little further down the odds board. Before you head to the window, make sure you know what you are betting. If we were to bet the favorite using TVG’s insurance bet off, though, we’d want to bet him to win because we’ll receive a higher payout than if we included placing or showing in the wager.
When offered an insurance bet, we’re looking to wager on longer shots because we always have the fall-back option of getting a insurance wager credit that we can hopefully make up our loss on while shooting for some upside.
We really like one horse that isn’t the favorite and is around 10-to-1 odds. The performance potential of this horse coupled with the payout we could receive if the horse wins is very attractive.
How To Use TwinSpires’ Betting Offer
To earn the full $200 bonus, new players will need to sign up using the code ‘BET200’ and then wager $800 within 30 days of creating an account at TwinSpires. This may sound like a lot, but turnover can go fairly quickly when you’ve got the Kentucky Derby quickly followed by the Preakness. Placing your bets early can help you avoid long lines and ensure that your wagers are done before the rush, enhancing your betting experience.
Similar to what we described for the TVG offer, we’d look to use the TwinSpires betting offer as a cushion that can give us some money back.
The absolute safest bet to make will likely be betting on the favorite to show, which means the horse only has to finish in the top three to cash. The payout won’t return much compared to what’s being wagered, though.
We could also bet on a few more exotic Kentucky Derby bets instead of just straight bets. Exactas and trifectas are always fun to wager on. They’re long shots to hit, of course, because you have to select more than one horse in an exact finishing position, but payoffs can be larger and they’re entertaining to sweat.
If you’re someone who is going to wager $400 or more on the Kentucky Derby, do so using the offer from TwinSpires so you can get some money back win or lose.
Taking the Boom-or-Bust Approach
If we really want to go big on betting the Kentucky Derby, we can take a boom-or-bust approach and fire on some of the much longer shots to win the race. The benefit here is that we can get our money back in the form of a wager credit thanks to TVG’s insurance bet offer, so there’s a little cushion for us to land on.
Before you go thinking we’re crazy, let’s not forget about what happened just one year ago. At the 145th running of the Kentucky Derby, Country Horse won the race as a 65-to-1 longshot.
Types of Kentucky Derby Bets
Bettors wagering on the Kentucky Derby can do so in many ways. You can bet on more than just a horse to win. Betting on a horse to win is a straight-forward wager that is exactly what you think, you’re betting on the horse to win the race. Other single-horse bets are “to place” or “to show” bets. For beginners, straight wagers are easier to comprehend and more likely to win compared to exotic bets that demand a deeper knowledge of the racing field.
If you wager on a horse to place, you’re betting on that horse finishing in the top two positions, first or second. With a bet to place, you’ll receive a lesser payout than wagering on a horse to win because you have two chances for the horse to win instead of just one.
Likewise, if you bet on a horse to show, you’re wagering on that horse to finish first, second, or third, so now you have three chances to win. A bet to win will pay the most, a bet to place will pay the second most, and a bet to show will pay the least of the three.
There are several other horse-racing wager types you can place on the Kentucky Derby in addition to win, place, and show bets. Deemed “exotic” bets because they differ a bit from the norm, bettors can wager on the exact finishing positions of horses in the race for a chance at an even larger payday. The most common exotic bets are the “exacta,” “trifecta,” and “superfecta.”
With an exacta wager, you are attempting to predict the top two horses in the race in the correct finishing position. With a trifecta wager, you’re going even further in hopes of predicting the top three horses in the correct order. With a superfecta wager, bettors are attempting to nail down the top four horses in the exact order they finish in.
There is also an exotic bet called the “super high five.” As you might’ve guessed by the name, this type of wager calls for bettors to try and pick the top five horses in the race in exact finishing order.
Only the win portion of a win/place, win/show or win/place/show wager shall be counted as an Eligible Wager. If your Eligible Wager loses, you will receive a bonus equal to the amount wagered in your Eligible Wager, up to a maximum of $300 (“Bonus”). Limit 1 Eligible Wager.
Churchill Downs
Churchill Downs, located in Louisville, Kentucky, is more than just a racetrack; it’s a historic landmark in the world of horse racing. Since its opening in 1875, Churchill Downs has been the home of the Kentucky Derby, a race that has become synonymous with prestige and excitement. The track is famous for its iconic twin spires and its ability to host thousands of spectators, creating an electrifying atmosphere on race day.
For those interested in Kentucky Derby betting, Churchill Downs offers a plethora of wagering options. Whether you prefer the convenience of online betting or the traditional experience of in-person wagering at the track, you have plenty of choices. As the final odds are determined and post time approaches, bettors can place their wagers, adding to the anticipation and excitement of the event.
Kentucky Oaks
The Kentucky Oaks, held at Churchill Downs on the Friday before the Kentucky Derby, is a prestigious race featuring some of the finest fillies in the sport. This event not only offers a significant purse to the winner but also serves as a valuable precursor to the Derby. Many of the horses and jockeys competing in the Oaks also participate in the Derby, providing bettors with crucial insights.
By analyzing the results of the Kentucky Oaks, bettors can make more informed decisions when placing their Kentucky Derby bets. Expert picks and analysis can further enhance your understanding, helping you identify potential winners and make strategic wagers. The Kentucky Oaks is an integral part of the Derby weekend, offering both excitement and valuable information for bettors.
When is the 2025 Kentucky Derby?
The 2025 Kentucky Derby, otherwise known as the 151st running of the Kentucky Derby, takes place on Saturday, May 3, 2025.
Where does the Kentucky Derby take place?
The Kentucky Derby takes place in Louisville, Kentucky, at Churchill Downs Race Track. Named for Samuel Churchill, the track opened in 1875.
How long is the Kentucky Derby?
The Kentucky Derby is run on a track that is 1.25 miles in length, or 10 furlongs. One furlong equals 220 yards. The race itself lasts about two minutes in duration, which is why the Kentucky Derby is often referred to as “the most exciting two minutes in sports.”
How much money is bet on the Kentucky Derby?
In most recent years, well over $100 million is bet on the Kentucky Derby each year. In 2019, more than $165 million was bet on the Kentucky Derby, which is a record number. The 2020 edition of the Kentucky Derby saw a reporter $79.4 million wagered, which is quite a bit of a decline from the record-setting 2019, but not to be unexpected with everything going on surrounding the coronavirus pandemic. In 2018, nearly $150 million was wagered on the Kentucky Derby. There has been more than $100 million bet on the Kentucky Derby every year but one (2020) dating back to 2005.
How do horse racing odds work?
Horse racing odds commonly use a pari-mutuel system to be calculated. This means all of the bets of a certain type are pooled together and then the odds are determined by the distribution of the bets among all bettors, after taking out the house take. The more money bet on a horse, the worse the odds will be and the lesser the payout. With pari-mutuel, the exact odds of a wager won’t be known until right before the race goes off when the betting window closes.
Responsible Betting
When it comes to Kentucky Derby betting, responsible betting is paramount. It’s essential to set a budget and stick to it, ensuring you never wager more than you can afford to lose. Understanding the risks involved with betting is crucial, as is being aware of the potential consequences of problem betting.
Additionally, ensure you have the proper permissions and access to betting platforms. This includes understanding the HTTP protocol and recognizing error messages like “Access Denied” or “HTTP 403 Forbidden,” which can indicate issues with permission or access. By betting responsibly, you can enjoy the excitement of the Kentucky Derby while minimizing risks and ensuring a positive experience.
Conclusion and Final Tips
In conclusion, Kentucky Derby betting offers a unique blend of excitement and strategy. By understanding the basics of horse racing, including the different types of bets and expert picks, you can make informed decisions and increase your chances of winning. Churchill Downs and the Kentucky Oaks are integral parts of the Derby experience, providing valuable insights and adding to the overall excitement.
When placing your bets, remember to set a budget, understand the risks, and be mindful of permissions and access. Check the final odds before post time and place your bets in advance to avoid any last-minute issues. With these tips and a bit of luck, you can enjoy a successful and enjoyable Kentucky Derby betting experience. Always prioritize responsible betting and never wager more than you can afford to lose. By doing so, you can minimize risks and maximize the excitement of Kentucky Derby betting.