Legal Kentucky Derby Betting
The Kentucky Derby is perhaps the most well-known event in American thoroughbred horse racing. As such, it is one of the most popular events to bet on in the sports betting world. Legal Kentucky Derby betting is something that anyone – over the age of 18, of course – can participate in, so long as they place their bets at the correct location. The Kentucky Derby is the first leg of the Triple Crown, the most sought after title in all of horse racing. With so much at stake, many people want to participate in legal Kentucky Derby betting, so that they can get in on all of the wagering action. This page will go over how you can legally bet on the Kentucky Derby, as well as answer any questions you might have on how horse racing betting is done.
Forte was made the favorite to win the 2023 Kentucky Derby when the odds first dropped for the race. While most books started around +300 odds for the horse to finish first, there is always some potential upside to choosing an underdog to pull off the upset. During the 2022 Kentucky Derby, Rich Strike won as one of the biggest underdogs in the history of the Kentucky Derby with +8000 odds. The 2021 Kentucky Derby also saw an underdog finish on top, with Mandaloun winning with +1500 odds. The odds and the designated gate number for all of the 20 participants in the 2023 Derby can be found below:
- 1. Hit Show +3000
- 2. Verifying +1800
- 3. Two Phil's +1200
- 4. Confidence Game +1800
- 5. Tapit Trice +500
- 6. Kingsbarns +1000
- 7. Reincarnate +3500
- 8. Mage +1600
- 9. Skinner +2500
- 10. Practical Move +1000
- 11. Disarm +3300
- 12. Jace's Road +5000
- 13. Sun Thunder +5000
- 14. Angel Of Empire +900
- 15. Forte +300
- 16. Raise Cain +6600
- 17. Derma Sotogake +1000
- 18. Rocket Can +5000
- 19. Lord Miles +5000
- 20. Continuar +6000
- 21. Cyclone Mischief +5000
- 22. Mandarin Hero +2000
- 23. King Russell +8000
First off, let me answer your most important question – yes, it is legal to bet on the Kentucky Derby. It doesn’t matter if you’re at Churchill Downs yourself, or at a licensed off-track betting location in your state. So long as you are placing a pari-mutuel wager, you are participating in legal Kentucky Derby betting.
You can also legally wager on the Kentucky Derby at an online racebook. These sites allow players access to the biggest events happening all over the world, so no matter where you live, you’ll be able to bet on the Kentucky Derby. All you need is internet access.
Legal Kentucky Derby betting can be done at all of these locations because of the Interstate Horse Racing Act of 1978, which allows tracks to negotiate for the right to simulcast the event. Online racebooks are able to offer legal Kentucky Derby betting because they have also reached a deal with the track hosting the historic event.
Horse racing betting is done in the pari-mutuel form of wagering. This means that all of the bets placed are collected into a pool. Bettors holding winning tickets at the end of the race are paid out directly from that pool after taxes are taken out. There are a number of common pari-mutuel wager types available for legal Kentucky Derby betting, which we will go over below.
Win/Place/Show – A win, place, or show bet is an example of a straight bet. When you place a win bet, you are picking the outright winner of the race. A place bet means you are picking a horse to finish either first or second. A show bet means you are picking a horse to finish either first, second, or third. A place bet will have a smaller payout than a win bet, and a show bet will have the lowest payout of all because it has the least risk associated with it.
Exacta – This is considered an exotic wager. Exactas are wagers that require the bettor to accurately predict the finishing order of the first two horses.
Trifecta – You must name the first three horses that finish the race, in order, to win a Trifecta.
Superfecta – A Superfecta is the toughest of all, as you must correctly identify the horses that win, place, show, and come in fourth place, in exact order.
Daily Double – Choose the winner of two consecutive races. This is usually done on the first two races of the day or the last two.
There are many legal outlets for betting on the Kentucky Derby, including a variety of online books that have been trusted for over a decade. These legal horse betting sites can be accessed from your iPhone or Android device for betting on the winning horse, jockey, trainer, and more. While the morning odds have a tendency to shift before the race, the books below offer live odds on all 20 horses.
The Triple Crown consists of three horse races that all have odds at legal betting sites for the individual race. If betting on the Triple Crown itself, a bettor is putting their money on one thoroughbred winning all three races in the same year. Most horse betting sites offer +1000 odds for a Triple Crown winner to emerge and -2000 odds for it to not happen. Justify was the last horse to win the Triple Crown in 2018 but that does not mean it could not happen in 2023.
Bovada is one of the best and most used online Racebooks in the US, due to the variety of odds and secure deposit/withdrawal methods available. The legal betting site also offers some of the best new player bonuses in the game with low rollovers for all horse betting promotions. Bitcoin is the recommended deposit and withdrawal option at Bovada, allowing instant deposits before the Kentucky Derby and payouts even faster.
When using BetOnline to bet on horses, players in the US can feel confident that any winnings can be paid out with no issues within 24 hours. With over 15 different types of cryptocurrencies on the table, legal bettors at BetOnline can use Bitcoin, Ethereum, or other methods to request and receive payouts in as little as 30 seconds with no fees attached. While they are not as fast, traditional online horse bettors can use checks by mail or bank transfers to receive payouts from legal horse betting winnings.
SportsBetting is one of the longest running online Racebooks that accepts US players, with over 20 years of experience. This legal betting site has future odds for the Kentucky Derby for most of the year and props for specific horses as the event gets closer. SportsBetting is not just popular because it is a secure betting site but is also known for offering many different rebate promotions on horse races and deposit match bonuses for all players to accept with every single transaction.
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- 8% Horse Rebate!
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