The Kentucky Derby is one of the world’s most famous horse racing events. Each year, on the first Saturday of May, 20 three-year-old horses line up for the Triple Crown’s first jewel, held beneath the historic Twin Spires of Churchill Downs. You can bet that it’s an exciting racing show with tons of prizes to boot.
Over $155 million was wagered on the Kentucky Derby in 2021. That is a large amount of money exchanged in less than two minutes. So, if you’re planning to win big money in the betting games, there are things you need to do first to have an edge in winning.
Below are Kentucky Derby betting guides that will teach you how to wager on the big race and ensure that you walk away with a piece of the action.
Kentucky Derby Betting Types
If you’re wondering how to wager on the Kentucky Derby horse betting, it’s important to know that there are nearly infinite ways to do so, regardless of your bankroll or risk tolerance.
A win or place wager may be appropriate for those seeking a low-risk wager. If you’re looking for a big payday, betting on the Kentucky Derby is also an option. The following are the primary wagers available when betting on the Kentucky Derby.
Win – If you wager $2 on your horse to win, you will only be paid if your horse finishes first.
Place – If you wager $2 on a Place wager, your horse must finish first or second for you to win. However, keep in mind that you do not receive the Win payoff, only the Place payoff, typically less than the Win payoff.
Show – If you wager $2 on Show, you must have your horse finish first, second, or third. However, remember that you will only receive the Show payoff, as three different horses will be compensated.
Exacta – The Exacta involves picking the race’s first and second-place finishers in exact order. The most common way to play an Exacta is to purchase a $2 Exacta box. A $2 Exacta box would cost $4 if you liked both horses in the top two positions. So you win if those two horses finish first and second, regardless of their order of finish.
In 2021, the exacta Medina Spirit-Mandaloun paid $503.60; the average exacta has returned $935 over the last 22 years. $3,010 was the all-time high in 2019, while $31 was the all-time low in 2016.
Trifecta – A Trifecta becomes more challenging to achieve because it requires correctly selecting the top three finishers in exact order, which is no easy task in a 20-horse field.
For example, the average payout for a $1 trifecta over the last two decades has been $6,686. While boxing three horses in the trifecta for $1 is only $6, the cost increases as the number of horses increases. $60 is the cost of a $1 trifecta box featuring five horses.
Generally, it is preferable to key one or two horses (the contenders you have the most conviction) in the top spot and spread in the second and third spots. For instance, the following are a few strategies for obtaining adequate coverage with modest investments of $1 increments:
1, 2 with 1, 2, 3 with 1, 2, 3, 4, 5, 6 = $16
1, 2 with 1, 2, 3, 4 with 1, 2, 3, 4, 5, 6 = $24
1, 2, 3 with 1, 2, 3, 4 with 1, 2, 3, 4, 5, 6 = $36
There is some good news for wagering enthusiasts with smaller bankrolls. Most tracks, such as Churchill Downs, reduced the increment on this bet from $1 to.50 in recent years, allowing you to spread your wagers wider and cover more horses that you believe have a chance of finishing in the money.
Superfecta – In horse racing, a superfecta wager is an exotic wager in which you must predict which four horses will finish in the top four positions in a single race. You must choose four horses that you believe will finish the race and correctly predict the order in which each of the four horses will finish. You will win your wager only if all four horses finish in the order you predicted.
Predicting the winner of any race is exceedingly tricky, let alone the horses that will finish second, third, and fourth. Despite the near impossibility of correctly predicting a superfecta bet, it remains an attractive betting option in horse racing due to its low cost.
Betting the Kentucky Derby Online
If you cannot make it to the track to wager on the Kentucky Derby, the best way to do so is online. So it’s a good idea to open an account with an online racebook before the Kentucky Derby. Wagering on this prestigious racing event has never been easier.
On race day, you can either visit your local track or wager from home via what is known as an advance-deposit wagering platform. Utilizing an “ADW” requires creating an account and pre-funding it with money you’ll use to wager online.
It can be a bit of a process to get started, so don’t wait until the last minute if you want to wager on the Kentucky Derby.
Final Thoughts
If you are a beginner when it comes to betting on the Kentucky Derby in the year 2022, this is the guide for you. You can experiment with a variety of popular betting guides.
The different types of betting have varying effects, so you must make an informed decision before placing your bet. You would eventually figure out what is more convenient for your needs after exploring with all of them.