Last updated on: January 10th, 2024
Kentucky Derby Odds – Betting On The 2024 Kentucky Derby
Legal Kentucky Derby betting sites that take US residents have been around since the start of the internet. The potential profitability of this Triple Crown race attracts horse bettors and newbies. Other than 2020, the Kentucky Derby has taken place on the first Saturday of May since 1875. Though the race is only two minutes, the amount of money bet at Kentucky Derby racebooks puts its popularity into perspective. Betting on the Kentucky Derby legally and safely is important. Finding sites offering Kentucky Derby horse betting straight and exotic bets is also crucial. Between horse betting apps and legal racebooks online, you’ll know your preferred way for Kentucky Derby horse betting.
Date: Saturday, May 6, 2023
Location: Churchill Downs – Louisville, KY
Post Time: approx. 6:50pm ET
Distance: 1.25 mi. (10 furlongs)
Purse: $3M 1st place: $2,000,000
Winner: Mage (+1200)
Best Kentucky Derby Racebooks
Best Kentucky Derby Betting Sites
Legal betting sites for the Kentucky Derby that accept Americans are available in every state. With the legal sports betting sites having Kentucky Derby odds and sports, it’s all connected. The best Kentucky Derby betting sites will give you horse racing bonuses or rebates. Either way, make sure the best Kentucky Derby betting site for your matches your needs.
The top-rated legal Kentucky Derby betting site is Bovada, with the best American and European betting odds available. Bovada allows players to bet on each horse to win, place, or show from within their racebook and sportsbook. When signing up to bet on the Kentucky Derby at Bovada, players are eligible for up to $750 in rewards when signing up with cryptocurrency. Or, new players can get up to $250 when using a non-crypto deposit method. Those bonuses are especially appealing because of the low 5X rollover. Players can clear 5X rollovers in about the same time frame that it takes the horses to finish the Derby itself!
- Vast Track Selection
- Easy-To-Use Interface
Founded in 2004, BetOnline has a history that is similar to the Kentucky Derby in that it is unlike any other. BetOnline offers odds on more horse racing events than any other online sportsbook or racebook. Plus, it also offers better payouts. New players at BetOnline are all eligible for up to $1,000 in bonuses when signing up. Those funds are especially useful for players that want to place multiple exactas, trifecta, and superfecta bets on the Derby. BetOnline stands out for its cryptocurrency deposit methods. The sportsbook is consistently expanding its offering and now accepts over 15 different cryptos.
- Reliable Banking Methods
- Strong Server Connection
- 10+ Year Track Record
- Huge Assortment Of Odds
- No App Mobile Betting
New Kentucky Derby bettors frequently choose to sign up at MyBookie. Their easily accessible racebook and sportsbook sections stand out. Both of those sections offer odds on the most exciting two minutes in sports. To navigate MyBookie’s elite website, players expand the list of odds on the left side of the page or through the tabs at the top. The racebook and horse racing odds are clearly outlined. MyBookie has also established itself as an excellent Kentucky Derby site that takes credit card and debit card bettors too. It accepts MasterCard and Visa deposits up to $2,500.
- Huge Player Bonuses
- Consistent Odds
- Easy Interface
- Rapid Live Betting
- Legal the US
Is It Legal To Bet On The Kentucky Derby?
Yes, and depending on where you live, the avenues for how to bet on the Kentucky Derby may differ. For states with horse racing betting officially on the books, most residents will have their local horse racing track or online racebooks that operate from within the US. However, there are certain states such as that have neither of these two options. If you happen to fall in that predicament, simply use an online betting site that doubles down as a horse racing betting site. These websites offer all the latest Kentucky Derby odds and are the safest option for placing a wager on the Kentucky Derby. In conclusion, finding where to bet on the 2024 Kentucky Derby should be easy for all players reading this site.
How To Read Kentucky Derby Odds
There are two main ways that to read Kentucky Derby odds found at legal online racebooks. The Kentucky Derby odds explained is easiest to think of it as American vs Parimutuel.
How to read parimutuel horse race odds: Pari-mutual odds will look like 3-1 or 2-5. The first number represents the profit if betting the second number. Using the first example of 3-1, a $3 profit comes on a $1 bet. For the second example of 2-5, a $5 wager only wins $2.
How to read American odds for horse racing: American odds are what you’d see at a sportsbook. Using the same examples, the two horses would be +300 or -250, respectively. Here, betting $1 wins $3 in profit. The positive number makes it work this way. For -250, a $5 bet still equals $2. Because the number is negative, it’s showing the ratio of what must be bet for a $100 profit.
2024 Kentucky Derby Opening Lines
Kentucky Derby Horse Bet Types
There are two main ways to bet on the Kentucky Derby. The easiest method of betting on the Kentucky Derby is through straight bets, which are wagers on one single horse. Exotic wagers are slightly more complicated, but also offer larger payouts. The most common Kentucky Derby bet types can be seen below.
Win – This is arguably the simplest type of bet. You’re simply selecting which horse will finish in first place. These will pay the highest amount of all the different straight bets.
Place – If the horse you choose finishes in either first place or second place you’d be able to cash in on this bet.
Show – If you choose a horse and it finished in either first, second, or third, you’d have a winning bet. Because this type of bet is easier to hit then the other straight bets, the payouts will be lower.
Across The Board – This is a bit of a combination of all three straight bets. With a bet across the board, if the horse you choose finishes in first then you win all three bets. If your horse gets second place then you’ll win on both the place and show bet. And if your horse gets in third place then you’ll simply win the show bet.
Exacta – In this case, you will be betting on two horses within a single race. If they place in first an second in the exact order you chose them then you’ll win the bet.
Trifecta – This is very similar to the exacta bet except with this you would have to bet on three horses and they would have to place first, second, and third in exact order.
Superfecta – This is only adding to the previous two exotic bets. You’d have to pick four horses and they would have to place first, second, third, and fourth in exact order. This is one of the most profitable wagering types.
Pick 3 – This is simply an addition to the daily double. If you choose a horse and they finish first on three consecutive races then you’d win the bet. You’d have to place the bet before the first race.
Before placing any bets on the Kentucky Derby, check out the available horse racing betting bonuses that are offered by Bovada, BetOnline, and other legal racebooks.
Past Kentucky Derby Winners
Past Kentucky Derby winners cement their name into the history of the sport. After their career is over, the horses are sought out for breeding because of their pedigree. Medina Spirit won the 2021 Kentucky Derby but was later DQ’d due to cheating on the part of trainer Bob Baffert.
|I’ll Have Another
|Mine That Bird
|Go for Gin
|Lil E. Tee
|Strike the Gold
|Spend a Buck
|Gato Del Sol
How Do Horses Qualify For The 2024 Kentucky Derby?
Horses can qualify for the Kentucky Derby in three ways. There is the Road to the Kentucky Derby, which is the most famous qualifying path in the US. It involves other Grade 1 stakes such as the Florida, Arkansas, and Santa Anita derbies. The other two paths are the Japan Road to the Kentucky Derby and the European Road to the Kentucky Derby. Horses earn points throughout these races, with the top 20 qualifying for the Kentucky Derby. It is through these major races that most legal Kentucky Derby betting sites scout and set their odds for the big race. Of course, horse racing betting sites in the US allow players to bet on each of these events as horses are trying to qualify.
- The Kentucky Derby qualifying events impact the 2024 Kentucky Derby betting odds. Qualifying for the Kentucky Derby comes in three ways.
- Road to the Kentucky Derby
- The Japan Road
- The European Road
Horses earn points via strong finishes at each race. The top 20 horses in points qualify, with an four more horses also gaining eligibility.