If you are looking to learn how to bet on the Kentucky Derby, this is your complete guide. In this guide, we have covered everything from the basics of horserace betting to expert tips and strategies to nail your bets on the Kentucky Derby. By the end of this article, you will have a complete understanding of what the Kentucky Derby is, the basics of Kentucky Derby betting, advanced bet types, the odds and payouts, and do’s and don’ts for smart wagering. So, hold your horses as we walk you through everything you need to know to pull off a pro-level bet.
What is the Kentucky Derby?
The Kentucky Derby is a key race in the world of horse racing. First held in Churchill Downs in Louisville, Kentucky, it is the oldest continuously running sporting event in US history. More than just a race, the event is a celebration of thoroughbred racing, tradition, fashion, and Southern culture, and its iconic status as the “The Run for the Roses” has been reeling in tens of thousands of fans from around the world every year.
Betting has been an integral part of the Derby experience with millions wagered annually. Whether you are a high roller, a beginner, or a casual roller, it is ideal that you have a solid grasp of the betting system to get the most value out of your money. Knowing the system, the various types of bets, and mastering the right strategies is important to ensure a full and rewarding gambling experience.
When Does the Kentucky Derby Take Place?
The Kentucky Derby is held on the first Saturday of May every year. It is the first leg of the Triple Crown and is followed by a two-week-long Kentucky Derby festival.
What Types of Bets Can I Place on The Kentucky Derby?
There are many options when it comes to bet types that specifically suit high-stake players and low-rollers. Let’s start with the three simplest bets in horse racing.
Basic Kentucky Derby Bets
All of these have one thing in common which makes them beginner-friendly– you have to pick just one horse.
- Win Bet
You bet on the horse you think will finish in the first place. If the horse wins, you win. This is the basic and most popular betting market in the Kentucky Derby.
- Place Bet
You bet on a horse to win either in the first or second place. If the horse finishes in either position, you win.
- Show Bet
You bet that a horse will finish in any of the top three positions. If it does, you win. The exact position makes no difference in the winning amount.
As you will see, these bets are straightforward with minimal possible results or conditions and therefore the payouts are also generally smaller. This is where we come to the more exotic bet types that add variety and thrill to the gambling experience.
The Exotic Bets
- Quinella
You pick two horses to finish in any order. You win if the horses win, irrespective of the order.
- Exacta
You bet on two horses to win in the first and second place respectively. To win, both horses have to finish in the exact order you predicted.
- Trifecta
In Trifecta, you pick three horses to finish in the first, second, and third places in the correct order. Harder to predict, but presents the opportunity for larger payouts.
- Superfecta
Similar to the Trifecta, but this time you pick four horses to finish in the first, second, third, and fourth place in the correct order.
- Super High Five
Take it a step further, pick five horses to finish in the first five positions. The horses have to win in the exact order you predicted for your bet to win. This one is the ultimate test of luck and betting skills and promises super-large payouts.
- Boxed Bet
You can box bet if you wish to bet on your picks to win in any order within a certain type of bet.
For example, in a Trifecta box, you can choose to have your three picks to win without any exact order. You will have to increase your bet amount for this, but the chances of winning also increase.
- Across the Board
Across-the-board betting is combining the three basic bets in one. You wager win, place, and show on a single horse. If your pick wins, you collect all three payouts. If the horse finishes second, you collect the place and show payouts; and if it finishes third, you collect just the show payout.
- Each Way
Each way is betting in two parts. You bet on a horse to win and to place.
- Head-to-Head
You bet on two horses predicting which one will finish ahead of the other. Their overall positions do not matter.
- Matchup Bets
Similar to head-to-head bet in that it is a comparison between two horses, but can be more varied as it can involve different conditions like grouping horses from different races, etc.
- Futures Bets
This is a winning bet that is placed months in advance of the race. It involves higher odds.
- Group Betting
You wager on a group of horses, typically based on the stable owner.
- Over/Under Bets
You bet on whether a horse will finish over or under the number set by the racebook operator.
An Example of a Kentucky Derby Bet
Say Forte is the favorite, with odds of 3/1, and Secretariat is the underdog, with odds of 15/1. After researching both horses, you place two bets:
Bet 1: $100 win bet on Forte
If Forte wins the race as you predicted, you win $300 (100 x 3 = 300). You get your $100 back, plus the $300 you won.
Bet 2: $2 show bet on Secretariat
If Secretariat finishes in the top three, you’ll win a smaller amount, but your risk is also less. Suppose the show payout for Secretariat is $10. You’ll get your $2 back, plus the $10 you won.
So in total, you’ve spent $102 on bets. If Forte wins and Secretariat finishes in the top three, you would walk away with $310 or more, depending on the payouts.
Expert Tips to Bet on the Kentucky Derby
To help you make the most strategic bets, here is a comprehensive list of top tips to bet on the Kentucky Derby.
- Start small: Start with basic bets if you are a beginner. Know that the prolific bettors have an edge having closely followed the dynamics of the event and years of experience under their belt.
- Hedge your bets: Spread your wager over multiple bets instead of betting the farm on a single horse. Mix safe bets with riskier ones.
- Research horses and jockeys: Evaluate the speed and stamina of the horses, see if any of them are overrun, and consider their performance in prep races.
- Watch the race closely: Watching the race closely will enhance the quality of your bet. And you don’t want to miss out on the fun of watching the sport.
- Research across horse racing sites: Not all betting sites offer the same betting lines. Compare different sportsbooks and go for larger sites that offer better odds, varied options, and lucrative promotions.
How Do I Place a Bet on the Kentucky Derby?
Once you have harnessed the skills and strategies of betting, you are halfway there. All you need to do now is choose a reputable site that offers horse race betting like TwinSpires, BetAmerica, TVG, Fanduel, Bovada, or Draftsking. To bet on the Kentucky Derby online, follow these simple steps.
- Sign up on the Kentucky Derby betting app or website
- Deposit funds
- Navigate to Horse Racing or Kentucky Derby
- Select your chosen bet type
- Enter the bet amount and place your bet.
- Sit back and enjoy the race!
Can I Bet on the Kentucky Derby in Person?
Yes, you can bet on the Kentucky Derby in person at the track. Visit a trackside betting window or kiosk and tell the clerk your bet type, race number, horse number, and the amount you’re wagering. Collect the ticket and keep it to claim your winnings.
What is the Best Way to Bet on the Kentucky Derby?
While in-person betting captures the full excitement of the live Derby atmosphere, online sportsbooks allow you to do Kentucky Derby betting at home with the added advantages of attractive promotions and flexibility in payments.
The Finishing Line
Understanding how to place a bet is crucial to having the full Derby experience. We have discussed in this article every aspect of betting on the Kentucky Derby. Use the tips we provided to place yourself among the frontrunners. Finally, keep in mind that losing is part of gambling. Avoid beating the dead horse and falling into the trap of trying to recover your losses. Watch your wallet. Always stick to a pre-set budget and gamble responsibly, and you’re off to a flying start this Kentucky season!
