The Kentucky Derby is perhaps the most highly anticipated horse race of the year. Aside from inspiring a charming subculture, the event honors the luck, skill, and determination of the finest thoroughbreds and their jockeys.
Gamblers are no strangers to the appeal of the first jewel of the Triple Crown, as it presents unique betting opportunities and the chance to have a bigger stake in the action.
If you’re interested in wagering on your favorite horse, check out our complete guide to 2025 Kentucky Derby betting. We’ll discuss this year’s Kentucky Derby odds, favorites, and bet types in addition to where you can place your wagers.
A Brief Guide to Kentucky Derby Betting
There are few better days in the sporting year than the Kentucky Derby. The tradition, fanfare, and competition are tough to beat, and along with all of the revelry comes some fantastic betting opportunities.
Betting on the Kentucky Derby itself can be an absolute thrill. Even though favored “superhorses” like Triple Crown winners American Pharoah and Justify win some years, the Derby has recently been the site of several miraculous upsets. Just think back to Country House with 30-1 odds in 2019 or the 2022 champion Rich Strike, who had astronomical pre-race odds of 80-1. 2024 also saw a bit of an upset, with Mystik Dan coming in first after a photo finish with pre-race odds of 18-1.
Straight vs. Exotic Bets
There are several ways you can bet on the Kentucky Derby, the simplest of which are “straight bets,” which just require you to pick an outcome for one horse. You can make a win bet (the horse wins outrights, a place bet (the horse wins or comes in second), or a show bet (the horse finishes in the top three).
Then, there are “exotic wagers,” a slightly more advanced way to play. A common example is an Exacta, which requires you to pick the winner and runner-up in the right order. A Trifecta, Superfecta, and Super Hi-5/Pentafecta involve predicting the top three, four, and five horses in order, respectively.
For each of these Kentucky Derby exotic bets, you have to pick the right horses in the exact order they place. They might be tough to hit, but the odds and payouts can be very high to reward you accordingly.
Unless you’re one of the lucky few to be making your way to Churchill Downs to watch in person on race day, you’ll need to pick an online sportsbook with which to place bets. Sportsbooks will have varying bet types and bet minimums, and while you should consider both of these factors when choosing where to bet on the Kentucky Derby online, perhaps the most important thing is to play with a reputable licensed operator to keep your information and finances safe.
Kentucky Derby Odds
So how exactly are Kentucky Derby odds established? Despite the horses being relatively young, they have some previous successful race experience that qualifies them to run at Churchill Downs. These past performances, as well as the history of each horse’s trainer, owner, and jockey, are major determining factors as the sportsbooks and racetracks determine odds.
Like odds for other sports, Kentucky Derby odds indicate your potential payout. For instance, a 35-1 odds indicate that you would receive $35 for every $1 you successfully bet.
With all of that background in mind, let’s take a look at the pre-race odds for 2024’s Derby from FanDuel Racing.
| Horse | Odds |
|---|---|
| Fierceness | 5-2 |
| Sierra Leone | 3-1 |
| Catching Freedom | 8-1 |
| Just A Touch | 10-1 |
| Forever Young | 10-1 |
Choosing Your Kentucky Derby Bet
We’ve already discussed the main ways to bet on the Kentucky Derby (straight and exotic bets), but let’s talk about strategies you can implement.
One common approach is “boxing” bets, which is a sort of blend between the two main categories. For instance, an Exacta Box is similar to an Exacta as you pick the two horses you think will finish first, but the order is not relevant. This type of bet is easier to win than a true exacta, but the payout will be lower.
Similarly, a Trifecta Box can be achieved by betting on three horses each to show. Superfecta and Super Hi-5 Boxes are both harder to find as such and harder to replicate with alternate wagers.
So how exactly should you pick your horse? The best way to learn about the horses, of course, is to watch them run. If you haven’t done that and don’t have the time or means to watch their past races, there are ways to get all caught up.
Racing programs can be good tools as these publications display race history and trends for each horse. As we get closer to race day, there will be plenty of other literature and Derby betting analysis from racing experts for you to find across the internet, so you should check out as much of it as you can so you can make an informed decision.
Kentucky Derby Betting Lineup
Also known as a portion of the “Road to the Kentucky Derby,” this series of races presents a phenomenal set of developmental opportunities for the horses. Of course, it’s not a direct predictor of success at the Derby or the other two Triple Crown events, but it’s a great introduction to racing fans for these horses and their teams.
These races also act as qualifiers for the Kentucky Derby, as winners and top finishers earn points towards making it into the 20-horse field for the big day. Sierra Leone’s success in the Blue Grass race was a good indicator of him taking the second place title in the 2024 Kentucky Derby, but the favorite Fierceness fell short in 15th place in the Run of the Roses.
| Race | Winner |
|---|---|
| Florida Derby | Fierceness |
| Arkansas Derby | Muth |
| Santa Anita Derby | Stronghold |
| Wood Memorial | Resilience |
| Blue Grass | Sierra Leone |
Betting the Triple Crown
While the Kentucky Derby is undoubtedly the biggest race in the sport, it’s not entirely alone at the top. The Preakness and Belmont Stakes are the other two legs of the horse racing Triple Crown, offering immortality to any horse and team that can win all three in the same year.
We’ve seen a pair of Triple Crown winners in recent years. After Affirmed wrapped up a flurry of three winners between 1973 and 1978, American Pharoah broke a historic drought with his magnificent 2015 win. Not to mention Justify, who not only endured the rainiest Derby Day ever in 2018 but also went on to win the following two races and earn immortal status in the world of horse racing.
Some sportsbooks will offer special odds on whether any horse will earn the Triple Crown or even allow you to bet on a specific horse to secure the honor. Of course, you can bet on each race individually, but the payout will be different than a direct Triple Crown winner bet.
You can also get involved with “points spreading” for any given race, which allows you to bet on a horse or jockey’s performance relative to the sportsbook’s prediction. These markets also offer you to “buy” or “sell” wagers, so you can take advantage if the spread is being pitched too low or too high.
The Kentucky Derby Live
Some people bet on Derby Day at a racetrack, whether that’s Churchill Downs or another venue offering odds on the big race.
Even more convenient? You can bet on the event in real time with certain online racebooks, the foremost of which is FanDuel Racing, a real trailblazer in this area. Placing bets throughout race day is a time-honored tradition, as the Derby itself is far from the only race, so it’s essential to have a platform that operates quickly enough that you can keep up with the action. And FanDuel certainly fits the bill in this regard.
Best Kentucky Derby Betting Sites
While several sportsbooks offer odds on the Kentucky Derby, FanDuel Racing and TwinSpires are official betting affiliates of the biggest event in horse racing.
FanDuel originated as a top DFS app but is now a major online sportsbook and casino operator in addition to its racing offerings. TwinSpires is a Derby-specific site, which isn’t surprising as its very name is a reference to the iconic architecture of Churchill Downs itself. These different operators bring unique benefits to the table, so keep an eye out for special offers from both as we get into Derby Week.
These are far from the only two sportsbooks with which you can place Kentucky Derby bets. DraftKings, too, will likely have odds available once post positions are finalized. As long as you’re using a licensed sportsbook that is legal where you are located, you can have a great experience betting on the Kentucky Derby.
In some cases, welcome bonuses are available to help enhance your betting experience. Signup bonuses are limited to users signing up for a new account, but existing customers can look out for other promotions and boosts.
For example, Sign up at TwinSpires with the code LABSRACING to get up to a $400 sign-up offer. At FanDuel Racing, you can unlock the welcome offer Get a $500 No Sweat First Bet! in eligible states.
As always, when accessing these bonuses, it’s vital to read the terms and conditions. Knowing what strings are attached allows you to be an informed bettor and get the most value possible.
How to Sign up for a Kentucky Derby Betting Site
If you’ve ever signed up for a horse racing betting site or an online sportsbook before, the process of getting started with any one of these sites should be pretty straightforward. Even if you haven’t, it’s a simple procedure that shouldn’t give you too much trouble.
Let’s talk through exactly what you need to do so there are no surprises when you go through the sign-up process.
- Create your account, entering and verifying your details in the process.
- Enter your promo code when asked if one is available.
- Read the terms and conditions of your offer.
- Verify your account via an email link.
- Make your initial deposit and comply with any other terms and conditions of your offer.
States That Have Horse Betting Available
While horse racing is technically a sport, wagering on horse races is very different from traditional sports betting. In fact, it’s a whole different animal—or, erm, horse.
Horse racing works on a pari-mutuel system, which involves bettors competing for money in a pool rather than betting against the house. The more money the common people bet on a horse in the Kentucky Derby, the better odds that horse will have compared to its competition.
This unique system operates under different regulations and is legal in various states whether in person, online, or both.
Today, over 40 states have legal options for betting on horse racing, including the Kentucky Derby. The most traditional way to do so is to head to a racetrack. Even if it’s not the one where a given race is taking place, they’ll usually accept bets on odds at licensed tracks throughout the country.
In most of these states, you can also bet on horse racing online. Even if your state doesn’t allow online sports betting, horse racing is often regulated just a bit differently, so be sure to check the local rules and regulations before you try to get started.
Even if sports betting is legal in your state, horse racing betting might not necessarily be, and vice versa. Let’s take a look at the following states where you can legally bet on horse racing in some capacity:
- Alabama
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Missouri
- Montana
- Nebraska
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Dakota
- Tennessee
- Texas (in-person only)
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
FAQs About How to Bet on the Kentucky Derby
We’ve done our best to inform you about Kentucky Derby betting in the sections above, but you still might want to learn more.
If so, read on to find common questions and answers about the topic.
Can I access horse racing on a sportsbook?
Many major sportsbook operators have horse racing odds available, but oftentimes, they will be on a separate horse racing platform under the same brand name. For instance, FanDuel Racing is separate from FanDuel Sportsbook.
How do I understand Kentucky Derby odds?
Horse racing odds are most often presented as fractional odds, where the numerator is the number of failures projected to happen as often as the number of successes as defined by the denominator. For instance, 5/2 odds imply that if the Derby were to be run seven times, the horse would lose five times and win twice. The odds also indicate payout with the first number being the amount you win for every amount of the second number you bet.
What is the best horse to bet on for the Kentucky Derby?
Different strategies will lead you to bet on different horses, so it’s hard to identify one “best” horse to bet on. Fierceness and Sierra Leone were top contenders, and while Sierra Leone scored 2nd, Fierceness let down some bettors by coming in 15th place.
Is there a minimum bet at the Kentucky Derby?
Every sportsbook and racetrack will have its own defined minimum bet; make sure to read about these rules, terms, and conditions before you get started.
Where are horse racing bet options available?
You can bet on horse racing at licensed tracks, as well as certain online betting outlets, like FanDuel and TwinSpires.
When is post time for the Kentucky Derby?
Post time for the 2025 Kentucky Derby is 6:57 PM ET on Saturday, May 3th, as the race is traditionally run on the evening of the first Saturday of May.
