Kentucky Derby Odds and Bets

It’s an exciting time of year in the month of May. There is the NBA playoffs, the MLB season in full swing, and horse racing’s biggest event. The Kentucky Derby horses race to the finish on the first Saturday in May. If you are looking to bet on Kentucky Derby futures or on the event, here’s what you need to know about Kentucky Derby odds.

How Horse Racing Betting Odds Work

When looking at horse racing odds, you might see them listed in a few different ways. For example, you might see 3-1 or 3/1. Both of these options mean 3 to 1 odds. If you bet $100 and win, you would win $300. The payout would be $400 because you get your original stake back.

Not usually but sometimes bettors might see American odds such as +300. This also means 3 to 1 odds to win. In horse racing, you will commonly see the 3-1 or 3/1 format when it comes to odds. Regardless, +300, 3-1, and 3/1 all refer to 3 to 1 odds to win the bet.

Top Kentucky Derby Betting Apps and Sites

If you’re interested in placing bets on a major event, FanDuel and TwinSpires are two great choices. Below is a brief overview of the current promotions being offered by each of these racebook apps.

FanDuel Racebook

FanDuel is offering a “No Sweat First Bet” promotion to help you start placing your bets for the Kentucky Derby without any worry. With the FanDuel Racing app, you can enjoy live streaming of major events and receive exciting bonus offers as a new user. Don’t miss out on the latest bonus and make the most of it as you prepare to bet on the Derby.

TwinSpires

If you’re planning to bet on the Kentucky Derby, TwinSpires offers a generous sign-up bonus. The app provides excellent educational resources for novice bettors and features a reliable live-streaming service. Moreover, for those interested in betting on the Derby, there is a wide range of bet types available on the app.

Best Odds for 2023 Kentucky Derby Contenders

As the horses get ready to run for the roses in this year’s Derby, here are some of the horses with the best odds and their post positions.

5. Tapit Trice 5/1

15. Forte 5/1

14. Angel of Empire 6/1

3. Two Phil’s 10/1

17. Derma Sotogake (JPN) 13/1

Tapit Trice and Forte are sitting at the top as the 149th Kentucky Derby Favorites. Forte won the 2023 Florida Derby while Tapit Trice has won the 2023 Blue Grass Stakes and Tampa Bay Derby.

Odds of Recent Kentucky Derby Winners

There have been some long shots to win the Kentucky Derby in recent years including Rich Strike at 80/1. Here’s a look at some of the recent winners of the Kentucky Derby at Churchill Downs along with their odds.

2022: Rich Strike 80/1 

2021: Medina Spirit 12/1 

2020: Authentic 8/1 

2019: Country House 65/1 

2018: Justify 5/2 

2017: Always Dreaming 9/2 

2016: Nyquist 2/1 

2015: American Pharoah 5/2 

2014: California Chrome 5/2 

2013: Orb 5/1

2012: I’ll Have Another 15/1 

2011: Animal Kingdom 20/1

Different Bet Types for Horse Races and the Derby

If you are looking to wager on a horse and jockey for the Derby, you’ll need to know the types of bets available for the most exciting two minutes in sports. Here are some of the wagers you can place as you look to bet on the Kentucky Derby this year.

Win

This is a simple wager. You are betting on a particular horse to win. If your bet finishes first, you win. These are the most common Kentucky Derby betting odds you will see. Pick a winner and get ready to watch the race.

For example, for this year’s Kentucky Derby, Tapit Trice has 5/1 odds to win as one of the favorites. If you bet $1,000 at Tapit Trice wins, you would win $5,000 on the Derby race.

Place

For a place bet, you are wagering on if the horse will finish second or better. Your horse can finish second or win the race for you to get the payout.

Show

On a show bet, you are wagering on if the horse will finish in third place or better. You receive a payout and win if the horse finishes first, second, or third.

Exacta

For an exacta bet, you are betting on which horses will finish first and second in the correct order. You only win the bet if the horses finish in the correct 1-2 order you bet on.

Quinella

Like an exacta bet, a quinella is betting on two horses to finish first and second. For this bet type, it doesn’t matter what horse wins. You just need your two horses to finish first and second.

Trifecta

A trifecta takes it up a notch. For this type of bet, you are betting on three horses to finish first, second, and third in the correct order. A difficult bet as you need to get the perfect order of first, second, and third.

Superfecta

One of the most difficult bets of all is the superfecta. For this bet, you are betting on what horses finish first, second, third, and fourth in the correct order. Any other order of finish on Saturday at Churchill Downs in Louisville and you lose the bet.

Determining Kentucky Derby Rankings

A point system is designed to assign horses point values on prep races leading up to the Kentucky Derby. This is how horses qualify for the Kentucky Derby. The system rewards the top horses competing in the most important races. It also takes into account overall consistency throughout the year.

The winner of each prep race gets 100 points while second place gets 40 points. Third place gets 20 points while fourth place is awarded 10 bets. Horses with the most points at the end of qualifying get a guaranteed spot at the Derby starting gate.

Kentucky Derby Odds and Bets FAQs

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