2024 Kentucky Derby betting guide – Odds and promos
THE BIGGEST domestic horse racing event finally takes place Saturday. Get all the information about the Kentucky Derby, including how and where to bet on the race, tips and more.
The Kentucky Derby is the biggest date in the US horse racing calendar.
It takes place on the first Saturday of May at the Churchill Down Racetrack in Louisville, Kentucky.
The Derby is also one of the most popular betting events in the US. It transcends horse racing: tens of thousands of people who barely watch a race for the rest of the year still like to bet a few dollars on the Kentucky Derby, and we’re going to explain how you can join them.
2024 Kentucky Derby odds, futures
Find the latest odds for the 2024 Kentucky Derby provided by TwinSpires. Odds are subject to change.
| Horse | Odds |
|---|---|
| Dornoch | 15 |
| Sierra Leone | 6 |
| Mystik Dan | 27 |
| Catching Freedom | 9 |
| Catalytic | 42 |
| Just Steel | 34 |
| Honor Marie | 16 |
| Just A Touch | 17 |
| T O Password | 61 |
| Forever Young | 8 |
| Track Phantom | 52 |
| West Saratoga | 32 |
| Endlessly | 52 |
| Domestic Product | 38 |
Kentucky Derby: Top sportsbooks
Online horse racing in the US is limited with very few providers. However, there are still premium providers in the market.
The main and best provider, is TwinSpires which has decades of experience in the industry, and offer modern and exciting coverage and betting options today in the vast majority of states in the US. You can check out the full list of states a little further down this page.
TwinSpires
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TwinSpires is owned by Churchill Downs ltd., the home of the Kentucky Derby. They make the most out of this benefit too - there is a whole section dedicated to the Derby on the website.
You can find articles about the history of the race, tips and predictions, odds and lots more. If it’s your first time betting on the Kentucky Derby, TwinSpires makes a lot of sense.
As a new player, you can claim TwinSpires’ welcome bonus which is worth $200 in bonus cash by using the promo code BET200.
| Pros |
|---|
| ✅ The home of the Kentucky Derby |
| ✅ Beginner friendly |
| ✅ Multiple Kentucky Derby future pools |
| Cons |
|---|
| ❌ Welcome bonus requires a lot of investment before you get the benefit |
How I pick horseracing sportsbooks
Similar to choosing a sportsbook to bet on other sports, there are plenty of factors that go into choosing a site to bet on horse racing.
Racebooks (as they are known) have their own unique format that can be a little confusing for beginners. Here is what I consider when chosing.
- Reputation - It’s always a good idea to choose a site with a longstanding reputation in the industry, and one which you are sure is legally allowed to accept your bets. TwinSpires have been accepting bets on horse racing for decades, and they have earned their respected position in the public consciousness.
- Odds offered - Shopping around for the best odds is one of the easiest effective strategies for betting on horses. The top books all have advanced pools on the Kentucky Derby, and it pays to check how the lines are moving on different sites before you lock in a bet.
- Mobile compatibility - Being accessible on mobile is basically a prerequisite for all online betting platforms these days. The majority of people now use their phone to bet in general, and it’s certainly the default way people bet online when they are attending a race in person.
- Bonuses and promotions - Just like regular sportsbooks, horse racing sites offer welcome packages to encourage new players to sign up, along with on-running promotions and special offers.
- Payment options - You can normally deposit and withdraw money via a variety of different banking methods. You should choose a site that supports a method convenient for you.
How do I place a bet on the Kentucky Derby?
First things first, you’ll have to sign up to a horse racing site like TwinSpires. If it’s close enough to the race, betting will already be open, although the odds won’t be locked in until the actual race.
If you’re betting ahead of time, there are also future pools available which remain open for a limited time only in advance.
Actually placing a bet is simple. Just click your selection to add it to the digital betslip.
The betslip is where you can get a little creative. Add different selections to customize your bets, including building out those exotics.
When you’re ready to go, click the button to confirm your bet. If you hit a winner, you’ll be paid out as soon as the race is complete.
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How are Kentucky Derby odds determined?
Betting on horse racing in the US is mostly pari-mutuel, meaning rather than betting against the house you are betting against all the other people who have placed the same type of bet as you.
If you’re betting on a horse to win the Kentucky Derby, you’ll more or less know the odds of your potential payout at the time of the bet, since it is based on all the other bets already placed on the race so far. The racebook will display the odds of each horse when you place your bet.
In the case of bets that have multiple winning outcomes however (like a Show bet for instance), you won’t know the payout odds until after the race finishes.
In this example, all the money of everyone who places a show bet is placed in the same pool. After the house takes a cut, the remainder is paid out in wins to everyone who had Show bets on the horses that finished first, second or third - meaning the payout is determined by which horses finish in those positions.
What kind of bets can I place on the Kentucky Derby?
Betting on horse racing can be a little confusing, especially if you're new to the sport. For beginners, it’s always a good idea to stick to the basic bets which are the easiest to understand and win. Exotics are probably more suited to intermediate bettors.
Below is a rundown of the most popular ways to bet:
Basic Bets - Win
As you can probably guess, a Win bet is a prediction on which horse will win the race. If your horse wins the race, you win your bet. Any other outcome, you lose.
Win bets also have the clearest odds. As I explained in the previous section, you see in advance the odds that you place your bet, so you know how much you would win. This makes them especially beginner friendly.
Basic Bets - Place
A Place bet is a bet on a single horse finishing either first or second in a race. As you can probably tell, this makes it easier to win than a Win but. However, as you can probably also tell, the payout will be lower since you need to share the prize pool with more people - everyone who had a Place bet on the two horses that finished first and second.
As I explained already, the precise payout won’t be known until the race is over.
Basic Bets - Show
A Show bet is a bet on a single horse finishing first, second or third. It’s the easiest bet to win, but has the lowest payouts. For beginners who aren’t too worries about hitting a big profit, and instead just want to root for a bet that has a good shot of winning, a Show bet is perfect.
Exotic Bets - Exacta
Exotic bets are where things start to get a little more complicated, since you need to make multiple selections.
The most popular is the Exacta. With this bet, you need to select two horses to finish first and second in a single race, in the correct order. It’s harder to win than any of the basic bets, but has a much attractive payout.
As before, the payout odds are determined by the prize pool and the position the horses finish.
Exotic Bets - Trifecta
With a Trifecta, you need to correctly predict the first, second and third horses in a single race. It’s a very difficult bet to win, but potentially very lucrative.
Exotic Bets - Superfecta
The most difficult of these exotic wagers is the Superfecta, where you need to correctly predict the horses that finish first, second, third and fourth in a race.
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Is it legal to bet on the Kentucky Derby?
Yes. Betting on horse racing is legal in the majority of US states. The following states allow online betting on sites like TwinSpire:
- Alabama
- Arkansas
- California
- Connecticut
- Delaware
- Florida
- Illinois
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maryland
- Massachusetts
- Montana
- New Hampshire
- New York
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Dakota
- Tennessee
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
How many horses are participating in the 2024 Kentucky Derby
20 horses will run in the 2024 Kentucky Derby, as has been the case since 1975.
How much are Kentucky Derby tickets?
Ticket prices gradually increase as the Kentucky Derby gets closer. If you buy a ticket the week before, it will cost you $59, with steep increases towards the day of the race.
Can you bet on the Kentucky Derby 2024 online?
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TwinSpires are available in the vast majority of US states for anyone over the age of 21. Check my list of states with legal horse racing above.
What is the best betting site for the Kentucky Derby?
Betting on horse racing online in the US is dominated by TwinSpires which is an excellent choices for betting on the Kentucky Derby. There are even special bonuses for new members, including a $200 bonus cash promotions TwinSpires.
My top 5 tips for betting on the Kentucky Derby in 2024
The Kentucky Derby is one of the most popular betting events of the year. Check out my top tips to consider before you place your bets below:
- Play it safe if you’re a beginner. Basic bets are the easiest way to get involved, and a Win bet is the simplest to understand. If you want to give yourself the absolute best chance of winning with the least amount of effort, a Show bet is the way forward.
- Bet early on the favorites. If you want to bet on the favorites, it’s a good idea to get your bets in on the advanced pools rather than waiting for raceday. Advance pools offer the best odds, since there are more variables in play in the months and weeks before the race. Barring something like an injury, the favorites’ odds are only going to get shorter
- Stock up on bonuses. Racebooks routinely create special offers and promotions around the Kentucky Derby - like TwinSpires’ welcome offer. These offers are a no brainer if you're going to sign up to a site especially to bet on the Derby.
- Don’t forget to check jockeys and trainers. Repeat winners of the derby is a hugely important data point when doing your research, and form in the race (from both jockeys and trainers) is a real factor.
- A horse’s form is crucial. You want to look for horses that are peaking for the Derby, which have already picked up a win or a place in a Grade 1 or 2 race this year already.
Responsible gambling
Remember to gamble responsibly
A responsible gambler is someone who:
- Establishes time and monetary limits before playing
- Only gambles with money they can afford to lose
- Never chase their losses
- Doesn’t gamble if they’re upset, angry, or depressed
- National Council on Problem Gambling – https://www.ncpgambling.org/
- Gamble Aware – www.begambleaware.org
For help with a gambling problem, call the National Gambling Helpline on 1-800-522-4700 or go to ncpgambling.org/chat
