Kentucky Derby Betting Sites

Author:

Alex W

Updated:

Oct 9, 2023

Huge sports fan. Football & MLS fanatic. Lover of all things gambling - Sports betting, Casino, Poker and of course, Las Vegas.

Best Kentucky Derby Betting Sites

First held in 1875, the Kentucky Derby is one of the oldest, most famous, and most prestigious horse races in the entire world. Held annually at the historic Churchill Downs in Louisville, Kentucky, the โ€˜Run for the Rosesโ€™ is the first leg of the American Triple Crown of Thoroughbred Racing and is widely considered the most significant one.

On top of drawing the most elite horse racing competition, the Kentucky Derby is also known for its immense popularity among bettors, attracting millions of wagers each year. Its blend of top-tier horse racing talent, unforeseen developments, and the possibility for noteworthy payouts make it an absolute favorite among seasoned betting veterans and casual horse racing betting fans.

To get you in betting shape for the next Kentucky Derby and all the betting thrill that comes with it, we will help you learn everything you need to know about betting on horse racing and guide you to the top-rated Kentucky Derby betting sites.


What is the Kentucky Derby

Annually staged on the first Saturday of May at Churchill Downs in Louisville, Kentucky, many regard the Kentucky Derby as the most exciting two minutes in sports. This iconic race has been a fixture since 1875, and it has been home to some of the most notable Kentucky Derby winners, such as the Secretariat, Seattle Slew, and Spectacular Bid.

Participation in the Kentucky Derby is reserved for three-year-old Thoroughbred horses, and eligibility is contingent on earning sufficient points through a series of preparatory races leading up to the Derby. The top 20 horses with the highest points secure a coveted spot in the starting gate.

Since the Kentucky Derby is the first leg of the Triple Crown, the winner earns a chance to compete in the Preakness Stakes and the Belmont Stakes to achieve the prestigious Triple Crown title.

Beyond the horse racing spectacle, the Kentucky Derby is a vibrant cultural phenomenon known for its glamorous fashion and electrifying atmosphere that attracts millions of spectators, including the most notorious betting aficionados, ready to take their chances at the best Kentucky Derby betting sites.


Best Kentucky Derby Betting Sites 2023

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The excitement of betting on the Kentucky Derby and the other Triple Crown races is unparalleled. Hence, wagering on these prestigious events anywhere other than the top Kentucky Derby betting sites would be a missed opportunity. Here are the 5 best Kentucky Derby betting sites:

๐Ÿฅ‡TwinSpires

Twinspires Sportsbook Homepage

TwinSpires, which is under the ownership and operation of Churchill Downs Inc, the very company that hosts the Kentucky Derby every year, is often considered the top choice for Kentucky Derby online betting. This holds especially true for bettors who prefer simplicity and like to place Straight bets.

TwinSpires is fully licenced and regulated to legally operate in 30 US states and offers odds for horse races at hundreds of tracks from around the world. The platform features all the possible types of bets you can imagine and, on top of that, it lets bettors stream live all the Triple Crown races, including the Kentucky Derby, directly through the app.

TwinSpires is great for both novice bettors and seasoned horse betting fans. It has a great welcome bonus that grants each new depositing customer who uses the promo code BET200 a $200 sign-up bonus cash and it provides the Kentucky Derby betting veterans with advanced features, comprehensive past performance data, and great handicapping tools.

Expert’s Comments: “It’s really hard going wrong with TwinSpires when it comes to Kentucky Derby betting online. The platform offers a user-friendly interface that makes navigating the world of horse racing bets a breeze. What truly stands out is the wealth of information at your fingertips. I recall suggesting TwinSpires to a few friends who were absolute Kentucky Derby newbies. It was remarkable how quickly they grasped the ins and outs of placing Kentucky Derby bets after a brief visit to TwinSpires’ Kentucky Derby betting FAQs section.” – Oliver Dickinson (Sports Editor)

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๐ŸฅˆFanDuel Racing

Fanduel Sportsbook Homepage

As the Official Sports Wagering Partner of The Kentucky Derby, FanDuel Racing provides fans with an array of thrilling betting choices and the convenience of live streaming any of the Triple Crown races via the app. If you opt for FanDuel for your Kentucky Derby betting experience, saddle up and get ready for some of the most competitive morning line odds available on the market and a wealth of opportunities to win bets and bet credits.

FanDuel Racing is renowned for its generosity towards newbies. Last year, new customers received a $20 No Sweat Bet for the 2023 Kentucky Derby, and it’s likely that bettors can anticipate similar generosity for the 2024 Kentucky Derby.

Expert’s Comments: “Betting on the Kentucky Derby through FanDuel Racing has been a pleasant journey. The platform grants me convenient access to numerous betting options for the Kentucky Derby, coupled with one of the finest live-streaming experiences available online. For me, it’s about enjoying both the race and the betting experience, and FanDuel Racing delivers on both fronts.” – Paul Ricci (Chief Sports Editor)ย 

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๐Ÿฅ‰DK Horse

Draftkings Sportsbook Homepage

Not many things can match the excitement of Kentucky Derby betting and thanks to the user-friendly layout and super intuitive design at DK Horse, online horse betting has never been more accessible. DK Horse offers its customers a super reliable app where they can place bets on the go and stream hundreds of races from all over the globe.

DK Horse is live in many states across the country and offers an extensive catalog of betting types for a wide variety of elite horse racing events, including the Preakness Stakes, the Belmont Stakes and the jewel of the Triple Crown, the Kentucky Derby. On top of that, the platform offers users various horse racing betting guides and numerous Kentucky Derby tips and strategies.

To saddle up for the action and receive a 100% Deposit Bonus of up to $250, download the official DK Horse mobile app and use the promo code HORSE during your registration process.

Expert’s Comments: “I’ve been a devoted fan of DraftKings since my legendary days in Fantasy Football, which I never fail to remind my friends about. Now that I experienced their horse racing platform, all I can say to you is saddle up and enjoy the ride! DK Horse offers a sea of betting options for the Kentucky Derby plus the seamless performance and reliability of their mobile app can make any device seem like it’s iPhone 15 Pro Max.” – Oliver Dickinson (Sports Editor)

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๐ŸŽ–๏ธCaesars Racebook

Caesars Racebook Homepage

Available on iOS, Android, mobile web, and desktop, Caesars Racebook offers horse racing enthusiasts an outstanding betting experience, as expected from such a highly esteemed brand in the gambling industry. Besides that, starting your horse betting campaign on the official Caesars Racebook is super easy. Funding is quick and safe, navigating to the horse racing section seems effortless and the quality of the streaming service seems impeccable.

New customers can get a 100% deposit match up to $250 and also earn Caesars Rewards, Reward Credits and Tier Credits with every wager they place. This generous welcome bonus is a great way to start your Kentucky Derby online betting journey by placing some of the exotic bets offered at Caesars.

Expert’s Comments: “My long-standing view of Caesars as a gambling establishment has always been favorable, and it’s safe to say that it remained unchanged after I tried their Racebook platform during the last Kentucky Derby. Creating your account and making your first deposit at Caesars Racebook is quick and easy, the odds for the Derby tend to be nearly identical to the odds at many other top-rated Kentucky Derby betting sites and I certainly love the generous welcome offer.” – Paul Ricci (Chief Sports Editor)ย 

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๐Ÿ…AmWager

Am Wager Sportsbook

Horse racing fans in search of a Kentucky Derby online betting site that combines a valuable cashback rewards system with a diverse selection of wagering options and advanced handicapping tools are likely to find AmWager to be an excellent Kentucky Derby online betting destination.

Although AmWager is a betting site known for its abundance of features and advanced handicapping tools incorporated in an interface that may seem too complicated for the casual Kentucky Derby bettors, the Kentucky Derby newbies seem to love the welcome offer that gets each new customer a 100% deposit match up to $150.

While the betting site is one of the absolute favorites among the experienced Kentucky Derby betting enthusiasts due to its extensive catalog of betting types and handicapping tools, users are suggested to use the mobile-optimized website as it lacks a dedicated mobile app for both Apple and Android.

Expert’s Comments: “While I totally understand that it might not be the top choice for the majority of the betting public, AmWager is undoubtedly one of the top Kentucky Derby betting sites in the country. Their wide range of betting options and advanced handicapping tools made me feel like an absolute Kentucky Derby pro and helped me completely forget about the fact that it’s almost 2024 and they still don’t have a standalone mobile app.” – Oliver Dickinson (Sports Editor)

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How to Bet on the Kentucky Derby Online

Thanks to the technological evolution and the rise of the online betting industry, placing Kentucky Derby bets online is easy. However, there are still a few steps that we advise you to take in order to ensure the best possible Kentucky Derby online betting experience.

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To eliminate the possibility of making any mistakes, follow our step-by-step guide to Kentucky Derby betting online.

  1. Choose a Reputable Sportsbook – Ensure that the sportsbook offers Kentucky Derby odds and operates under a valid license issued by a US government body.
  2. Sign Up – Visit the official website of the betting site or download the official mobile app and create an account by providing your personal information, including your full name, date of birth, address, and last 4 digits of your social security number. If you have a promo code, enter it during your registration process to become eligible for a welcome bonus bet offer.
  3. Make Your First Deposit – After creating your wagering account, navigate to the cashier section, select one of the available payment options, and enter the amount you want to deposit into your betting account.
  4. Place Your Wager – Once the funds are deposited into your account, go to the horse racing section and select the Kentucky Derby. Select the specific wager you want to place and choose a horse. Enter your preferred amount, review your selection, and then confirm.
  5. Stream The Race – Once your bet is placed, you can sit back, relax, and stream the race through your betting platform, some legitimate horse racing websites, or the official NBC Sports Website and NBC Sports app.
  6. Collect Your Winnings – If you have a winning bet at the end of the race, the betting site will deposit your winnings into your account. To withdraw the funds, go to the cashier section, select Withdraw, choose one of the available payment methods, and enter the amount you want to take out of your account.

How To Bet On Derby

When it comes to betting on the Kentucky Derby, different bettors have different approaches. Some place futures months before the event, while others bet on the Kentucky Derby day. While betting on the day of the race offers more certainty and excitement, betting futures provides higher payouts at the cost of higher odds volatility.


What Type Of Bets Can I Place?

The Kentucky Derby is not just the biggest horse racing extravaganza – it’s also one of the most popular sporting events full of lucrative betting opportunities thanks to the various types of Kentucky Derby bets bettors can place before the race.

  • Win – The simplest form of betting you can do at the Kentucky Derby. When you place a Win bet, you bet on a horse to win the race outright.
  • Place – When you place a Place bet, you are betting on a single horse to finish first or second place.
  • Show – Show is a bet for horse race betting fans who want to keep things safe. If you place a Show bet, you bet on a horse to finish first, second, or third.
  • Exacta – Unlike the other bets mentioned above, Exactas are wagers popular among experienced horse racing fans. When you place an Exacta bet, you choose which two horses will be first and second place in the correct order.
  • Quinella – When you place a Quinella bet, you choose which two horses will finish first and second in any order.
  • Trifecta – By placing a Trifecta bet, you’re predicting which three horses will be first, second, and third place in the correct order.
  • Superfecta – If you want to chase the highest payout through exotic wagers, then Superfecta is the bet for you. When you place a Superfecta bet, you pick which Kentucky Derby horses will be the first, second, third, and fourth place in the correct order.
  • Super High Five – By placing a Super High Five wager on the Kentucky Derby you can pick which horses will be the first, second, third, fourth, and fifth place in the correct order.

In addition to the mentioned Kentucky Derby bets, there are other multi-race wagering options available for sports bettors during the Kentucky Derby and its accompanying races at the Churchill Downs racetrack. These Kentucky Derby wagers typically involve betting on two or more horses and require predicting the results of multiple horse races during the same event. Here are the most common ones:

  • Daily Double – You pick the winners of two consecutive races, typically the Kentucky Derby and the race before or after.
  • Pick 3 – You predict the winners of three consecutive races.
  • Pick 4 – You predict the winners of four consecutive races, which may include the Kentucky Derby and three other races.
  • Pick 5 – You choose the winners of five consecutive races.
  • Pick 6 – The most challenging multi-race bet. When you place a Pick 6 bet, you pick the winners of six consecutive races.

How Kentucky Derby Odds Work

Like the odds for betting on other sports, Kentucky Derby odds indicate the possibility of a specific outcome. Lower odds signify a greater likelihood, while higher odds suggest a lower probability.

The odds are typically presented in three formats: fractional odds, decimal odds, and moneyline (or American) odds. However, in horse racing, fractional odds are the most popular choice. As the name suggests, these odds are expressed as a fraction, such as 5/1 (5-1) or 6/2 (6-2). The first number defines the potential profit, while the second indicates the amount wagered. For example, if you place a bet on a horse with 5-1 odds, you can win $5 for every $1 wagered.

To calculate potential payouts, multiply your wager by the first number and then divide by the second number. Add your wager amount to the result to determine the total payout.

Here is an example of how to calculate your total payout if you bet $20 on a horse with 5-1 odds:

  • Potential Profit = (5 * $20) / 1 = $100
  • Total Payout = $100 + $20 (original wager) = $120

You can even calculate the implied probability of an outcome based on its odds. There is a formula that can help you determine the implied probability. For example, if you bet on a horse with 5-1 odds:

  • Implied Probability = 1 / (5/1) = 1 / 5 = 0.2 or 20%

This means that, according to the odds, the event is perceived to have a 20% chance of happening.

From recent performances and track conditions to the betting preferences of the public, the list of factors that influence the odds for the Kentucky Derby is constantly growing. Therefore, seeking information from reliable sources like the Official Kentucky Derby Website, ESPN Horse Racing, NBC Sports, and publications such as The Racing Post and The Thoroughbred Times is essential.


Tips for Successful Betting on the Kentucky Derby

Given that we’ve already introduced you to the best betting sites where you can place Kentucky Derby wagers, it’s advisable to start investing your free time in conducting thorough research.

Invest effort in analyzing each horse’s pedigree, monitor their recent workouts in preparation for the Kentucky Derby, delve into the track record and strategies of trainers working with Derby contenders, and thoroughly examine the past performances of jockeys involved. These are just a few ways to gain valuable insights that can help you make informed decisions and increase your chances of success in the Kentucky Derby.

The Weatherman Is Your Friend

Weather plays a pivotal role in Kentucky Derby betting as it can significantly impact race results. The condition of the track, whether it’s fast, wet, muddy, or sloppy, can affect how each horse performs. Certain horses thrive in particular weather conditions while others struggle, so understanding the weather forecast and its potential impact on the race is crucial for making informed Kentucky Derby betting decisions.

Box Exotic Bets

Exotic bets, as the name implies, provide the most thrilling betting experiences. Yet, in races like the Kentucky Derby, where the finishing order can be highly unpredictable, successfully hitting an Exacta, Trifecta, or Superfecta can be a considerable challenge.

Instead of having to predict the exact order where each horse finishes, Boxing provides flexibility and increases your chances of winning exotic bets by allowing your selections to finish in any order.

Pay Attention to Historical Trends

Study past Kentucky Derby results and trends. Look for patterns in terms of post positions, track conditions, and winning styles. Recognizing a horse’s winning style is vital for Kentucky Derby bettors as it helps in predicting its performance based on factors like track conditions, race distance, and the styles of the competitors.


Notable Kentucky Derby Betting Moments

The Kentucky Derby history is filled with remarkable betting moments. From longshot triumphs that left bettors in awe to legendary rivalries that captivated the world – the Kentucky Derby has seen it all.

Here are some of the most surprising underdog victories that stand as a testament to the diverse and captivating horse racing history of the Kentucky Derby:

  1. Donerail (1913), 91-1
  2. Rich Strike (2022), 80-1
  3. Country House (2019), 65-1
  4. Mine That Bird (2009), 50-1
  5. Giacomo (2005), 50-1
  6. Gallahadion (1940), 35-1
  7. Apollo (1882), 32-1
  8. Charismatic (1999), 31-1
  9. Proud Clarion (1967), 30-1
  10. Exterminator (1918), 29-1

Past Kentucky Derby results hold a significant impact on future betting strategies. They offer valuable insights and trends that can shape your betting strategy. They also provide a glimpse into the challenges and opportunities presented by different post positions and race scenarios.


Common Mistakes to Avoid

Betting on the Kentucky Derby can be an enjoyable way to engage with the event, even if you are not a seasoned fan of the sport. However, it is essential to be cautious and avoid common mistakes, as the thrill of betting can become costly if not managed wisely. Here are some of the most common mistakes to avoid.

Respecting the favorites more than the Kentucky Derby field

Overvaluing the Kentucky Derby favorites while ignoring track conditions is a known way to fail your betting mission during the Kentucky Derby. While favorites can win, they often have low odds and are not value bets.

Therefore, it is crucial to remain reasonable and not rely solely on them. Weather can significantly impact race outcomes, and because of it, it is wise to consider other Kentucky Derby contenders that might be of better value.

Neglecting Research

In the exhilarating world of Kentucky Derby betting, research reigns as the secret weapon of the most elite thoroughbred enthusiasts. Researching the horses, jockeys, trainers, and track conditions is the key to making an informed decision.

While the race can be confusing for those not really familiar with the Run for the Roses, the past performance data acquired by quality research can be a compass that can guide you through the labyrinth of contenders, jockeys, trainers, and track conditions.

While the outcome of the Kentucky Derby remains uncertain, one thing is clear. When the first Saturday in May dawns, research becomes the dividing line between the seasoned Kentucky Derby bettors and the mediocre rest.

Overlooking the Role of the Jockey

Stunned by the flurry of statistics and horse pedigrees and mesmerized by the awesome horse names, it can be unbelievably easy to overlook the critical role of the jockeys, the true unsung heroes of the Kentucky Derby.

While novice bettors often emphasize the lineage of the horse and the reputation of its trainer, they often overlook the crucial significance of the jockey. The experience, strategy, and level of familiarity with the track of each jockey are invaluable assets that can turn an underdog into a champion or a favorite into a flop.


FAQs

What are the best Kentucky Derby betting sites?

TwinSpires, FanDuel Racing, DK Horse, Caesars Racebook, and AmWager are the best horse racing betting sites where sports bettors can legally bet online on the Kentucky Derby.

How do I place a bet on the Kentucky Derby online?

To place bets on the Kentucky Derby online, you need to sign up at one the best Kentucky Derby betting sites mentioned above, make your first deposit, navigate to the Kentucky Derby section, choose the type of bet, pick the horse you want to bet on and enter the amount.

Can I bet on multiple horses in the Kentucky Derby?

Absolutely! You can bet on multiple horses in the Kentucky Derby in several ways.
When betting on the Kentucky Derby, you can make individual bets on multiple horses or consolidate several horses into a single bet using Exotic wagers like Exacta, Trifecta, and Superfecta.

When is the next Kentucky Derby scheduled?

The historic 150th Kentucky Derby is scheduled for Saturday, May 4, 2024, with an expected post time at around 6:45 PM Eastern Time.

What happens if my selected horse is scratched from the race?

In the event that your chosen horse is scratched before the race starts, you can generally expect a refund, with your wager amount returned to you. However, if your chosen horse gets scratched during the race, your bet will get treated as a losing bet.

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