While there are a number of exciting events on the horse racing calendar throughout the year, one race just stands head and shoulders above the rest. The Kentucky Derby attracts attention like no other, and the betting volume for the race is always through the roof.
For diehard racing fans, it’s the biggest highlight of the season as the top runners in the sport go toe-to-toe. Even those who don’t pay much attention to horse racing get involved, as Derby Day is the sport’s equivalent of the Super Bowl.
We’ll detail how to bet on the Kentucky Derby and contains information for bettors across the whole racing spectrum, from newbies all the way up to experienced handicappers. We’ll cover in full detail the best bets you can make and how the runners make the cut and qualify for the biggest racing event of the year.
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Kentucky Derby bet types explained
When betting on the Kentucky Derby, you can simply pick on the winner and move on to enjoy the race. However, there’s a lot more to see on the horse wagering menu. Let’s start with the basics.
- Win: This is a bet on a horse to win the race.
- Place: A bet on a horse to finish in second or better.
- Show: A wager on a horse to finish in third or better.
These are the simplest wagers to understand. You can place any of these bets for as little as $1 at some tracks, but others require a minimum of $2. If your selection proves to be correct, then your ticket will be graded a winner.
Payouts will vary based on the odds for the winning runner and the amount in the wagering pool. At online operators such as TVG, you can get a peek at the amount of win, place, and show money that has been placed on each of the runners before the race goes off.
You can also combine these wagers onto a single slip, such as picking a runner to win/place/show or one to place/show. The bet amount will rise based on what you select, but it’s a good option for enhanced returns on a horse you are confident about.
Next, let’s take a look at a group of wagers known as exotics.
- Exacta or quinella: A bet on the top two finishers.
- Trifecta: A wager on the top three runners.
- Superfecta: Pick the top four finishers in the race.
- Super high five: Pick the top five finishers in a row.
Exotic bets aren’t easy to hit, but they can provide some serious bang for the buck. They’re quite popular as a result, and the bets can be placed for nominal amounts for straight selections. If you box your choices, then the cost of the ticket rises accordingly.
To demonstrate the potential, here’s what the returns looked like for some of these bets at the Kentucky Derby.
- $2 Exacta: $3,009.60
- $1 Trifecta: $11,745.30
- $1 Superfecta: $51,400.10
Those returns are phenomenal, but there are two important points to keep in mind. First, the race was won by longshot Country House. Second, the Derby attracts a ton of betting action, so the pools are much larger than they would have been for an average race.
Last but not least, remember that there’s a lot more to Derby Day than just the main event. There will be lots of other races on the card, so you can expand your horizons and use all of the above bet types for them, as well.
Additionally, there are bets you can place on the winners of multiple races in a row, ranging from the Pick 3 to the Pick 6. Once again, these bets are hard to hit, but they can provide awesome returns on really small wager amounts.
How do horses qualify for the Kentucky Derby?
The runners in the field for the Kentucky Derby are at the head of the class for the racing season. These are the best two- and three-year-olds in the nation, and they all will have proved that on what’s known as the Road to the Kentucky Derby.
This is a qualifier that goes through two phases, and the horses earn points based on how well they perform. The points are awarded on a sliding scale to the top four finishers, and the amounts increase as the process moves along.
For example, the top finisher in the first series of races will earn 10 points, while the amount increases to 50 for a first place later on. By the time we get to the Kentucky Derby Championship Series, the number doubles.
This series of races has come to be known as the Super Six, and the top finisher gets a whopping 100 points to add to the running tally. For those who regularly follow horse racing, these are some of the best events of the year.
Kentucky Derby betting history
The history of the Kentucky Derby goes all the way back to 1875. A horse by the name of Aristides won the inaugural race, which was contested over 1 1/2 miles, in a time of 2:37:75. The Derby remained at that length for several years before switching to 1 1/4 miles in 1896.
It’s still contested at that length to this day. The legendary Secretariat set the speed record with a time of 1:59:40 in his record-setting 1973 campaign. Interest has always been high for the biggest horse racing event of the year, but it seems to be continually climbing as well.
For some perspective on that, consider the betting handle for the entirety of Derby day back in 1985, which checked in at $26.8 million. By 1998, it was up to $88.9 million. For the 2019 edition, the all-sources handle was a staggering $250.9 million.
On the Derby alone, $165.5 million was bet on the race, besting the previous record from just one year prior by 10%. The Kentucky Derby is an incredibly special sporting event and one that attracts bettors in droves to boot.
