The biggest betting day in North America is fast approaching, as the Kentucky Derby takes center stage in May. There is nothing more exciting from a betting perspective than making a wager on the Kentucky Derby. Churchill Downs hosts the opening leg of the Triple Crown, with horses aged three trying to write their names into the history book.
The last 12 months or so has seen the race under the microscope for the wrong reasons, with Bob Baffert’s continued fight against the disqualification of Medina Spirit, but that hasn’t stopped excitement levels as the race gets ever closer.
So, if you want to learn how to bet on the Kentucky Derby markets, pay attention to the paragraphs below.
Kentucky Derby Win Betting
The Kentucky Derby is an extremely popular betting race for all gamblers, whether that be seasoned professionals or those looking to make their yearly punt. Either way, the most popular way to make a wager on the race can be found in the win market.
This market is the most straightforward to understand, as the bet simply needs to be placed on the winner in order to get returns. If your selection finishes second, third or lower, then the stake is lost. The returns are straightforward to work out before the race starts, as the odds will determine the returns. For example, if you bet on Smile Happy to win at 16/1, then you will get $170 in returns, which includes the stake that you have wagered.
Kentucky Derby Each-Way Betting
One of the most appealing betting markets for those looking to make a wager, but are most interested in a horse that has slightly bigger odds is the each-way wager. This covers both the win and place, which means a $5 wager each way is a total bet of $10.
Many will consider using this type of bet for the Kentucky Derby, as a field of 20 line-ups in the field. That means that a lot of the leading sportsbooks available online will offer extra places, with some offering up to four or five.
That means should you place money on a horse such as Pappacap at 50/1, then you could still get considerable returns should your selection come second or third.
Nonetheless, many experienced gamblers would go against betting on horses as shorter prices on this market, as the returns will be less than the wager should they only place. Each-way terms apply for this betting market, which sees customers get paid out a 1/5 of the odds if the selection places.
While many inexperienced bettors will be able to make their betting selections on the two markets mentioned above, the experienced gamblers will be looking for every ounce of value in the betting markets.
Due to the research that more experienced bettors do, including examining speed figures and looking at speed maps, they could predict the horses that finish in the first two or three places. Bettors that do that research can make wagers on the exacta and trifecta markets.
Exacta betting is the easier of the two to get a winner, as bets must be placed on the horses that finish exactly first and second in the race. Trifecta bets also cover the horse that finishes in third, as well as first and second.
The most difficult part of this bet is predicting the exact finishing order, especially in a race such as the Kentucky Derby with 20 runners lining up.
Bettors must examine where the pace in the race is coming from, and also look at the horses that could finish the strongest. However, it can be a potentially lucrative market, as returns can be huge. As well as these markets, there are also reverse exacta and reverse trifecta markets, which enables the two or three selected horses to finish in the top positions in any order and the bettor is paid out depending on the result.
The final betting market that could be of interest to those betting on the Kentucky Derby is multiple betting. While many may find it hard to predict the winner of the Triple Crown race alone, making a wager on this market also means finding a winner/s of different races taking place. A parlay is one betting selection available, but all selections in the wager must be successful in order to get returns from your wager.
This could be a potentially popular wager over Derby weekend, as it enables bets to be placed on both the Kentucky Derby and Kentucky Oaks. However, both selections that are picked for the wager must be successful to get the returns. Therefore, it is always encouraged that more inexperienced bettors should stick with bets on the most straightforward markets available online.