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The Kentucky Derby is the most popular horse racing event in the United States. You could ask nearly anyone about horse racing and this race comes up by name.
Kentucky Derby odds vary each year depending on the horses that are competing. Below you can see just how to bet on the Kentucky Derby.
Where to Begin
Depending on where you live, you need to make sure you have access to a reputable sportsbook to take wagers. Whether this is in person or online, finding a legal sportsbook is going to be your first step.
If you have some sportsbooks in mind, check to make sure they are legal and showcase this information freely. Upon signing up, you should look for various payment methods and ease of navigating the website.
Once you feel comfortable with the sportsbook of choice, check to see if there are any welcome bonuses or deposit bonuses. These will give a boost to your betting experience and allow you a little extra cash for your bets. Just check the fine print before you agree, as some of these might require you to do extra.
If you are new to Kentucky Derby betting, the best option would be to pick an outright winner. There are other betting options that you can consider later on, but only if you are ready for the challenge.
Types of Bets to Place
Picking an outright winner is the most straightforward bet to make. This typically pays out well, especially if the horse you chose was considered an underdog.
Below are the betting options you could see:
Place: This bet pays out if your choice finishes first or second.
Show: This bet is the correct pick for your horse to finish first, second, or third.
Exacta: Correctly pick the first two horses in order.
Trifecta: Correctly pick the first three horses in order.
Superfecta: Correctly pick the first four horses in order.
Super High Five: Correctly pick the first five horses in order.
Other special bets include a double pick on the Kentucky Oaks (Friday race) and the Kentucky Derby (Saturday race), where you have to try to correctly pick the winner of both races.
Finding the Right Choice
Picking the correct horse to win is quite difficult. However, it can be done with some proper research and luck.
Data is going to be your best friend when it comes to looking at horses that could win. This could mean looking at speed numbers, previous performances, ratings on horses, and even how well the jockeys have performed.
Looking at every horse and jockey combination to find a winner is crucial to succeeding at Kentucky Derby betting. In addition, you could also watch footage of horses you have picked out and how well they have raced.
Which Horse is Best?
Out of the 20 or so horses that you have to do research on, it would be best if you stick within the top 10. This does not mean that the top 10 with the best odds are going to win, it just means that this is a good place to do your research.
The favorite to win does not always win, but in horse racing, it is a pretty good measurement of who will succeed. Doing your own research is the best way to find value and to find the horse that is going to help you out.
Even if you do not go for the exact winner, you could look to engage in other bets like the place or show bets. Doing research on the top 10 allows you to get a good read on the competition and the information needed to do those specific bets.
How Much Should You Bet?
Not everyone has money to blow on this event, but that does not mean you cannot throw some smaller amount on a horse to win. The first step would be figuring out your finances and going from there.
Betting as little as $50 or $10, whatever your budget can hold, can still make a difference if you do win. You always want to make sure this money is something that you can afford to lose.