2023 Kentucky Derby Betting Guide

2023 Kentucky Derby Betting Guide

How to bet on the Kentucky Derby in New York

The historic Kentucky Derby takes place annually at Churchill Downs in early May.

This reference page will examine the history, New York horse betting options, the road to the Derby, and handicapping variables for the Fastest Two Minutes in Sports.

The Kentucky Derby, dating back to 1875, assembles 20 of the nation’s top 3-year-old thoroughbreds. It’s also called The Run for the Roses as a nod to the garland of 554 red roses draped over the winner.

This event is the first jewel in racing’s Triple Crown, followed by the Preakness Stakes and the Belmont Stakes.

The Derby is thoroughbred racing’s signature showcase, although its $3 million purse has been eclipsed by some Breeders’ Cup races in the fall. This event has brought the sport a rich national and international audience.

In the meantime, the proliferation of mobile betting and media attention keeps the Derby in the limelight.

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Betting on the Kentucky Derby via FanDuel Racing

While FanDuel has established itself as a go-to daily fantasy sports service as well as the top sportsbook in New York, it also powers FanDuel Racing. With both local and national races, FanDuel Racing now appears as a top platform for online horse betting in New York.

Easy to use and simple to navigate, FanDuel Racing caters to both racing enthusiasts and novices to the sport. When exploring the platform, users can find ways to bet on a wide array of races not only in the Empire State, but across the country. On top of that, for the newcomers, FanDuel Racing offers introductory courses, of sorts. Such as its “Racing 101” guide, which features betting tools and tips, how to read the odds and breaking down what kinds of bets exist.

Plus, FanDuel Racing has several promotional offers. New users who join FanDuel Racing can claim a $20 No Sweat Bet if their first single-horse bet loses. On top of that, for users who opt in for eligible races, FanDuel boasts “Win Bet Insurance,” which allows bettors to claim a bonus bet up to $5 if your horse you wagered on to win finishes second or third.

When navigating FanDuel Racing, you will see a listing of the day’s popular races as well as events starting soon, with minute-to-minute countdowns for how long you have to get in on the action. What’s more, you can find a list of top racetracks across the country with available races in the dropdowns.

From its simplicity to its easy-to-navigate platform, FanDuel Racing has put out a product that can attract vetran horse betting enthusiasts as well as newcomers to the sport. Perhaps most noteworthy, though, you can trust FanDuel Racing, part of the Flutter Entertainment company and the well-esablished and highly reputable FanDuel Sportsbook families.

2023 Kentucky Derby odds and betting favorites

The following are the 18 horses in order of position following five scratches, three of which were replaced by also-eligibles.

No. Horse Odds Jockey Trainer
1 Hit Show 26-1 Manny Franco Brad Cox
2 Verifying 16-1 Tyler Gaffalione Brad Cox
3 Two Phil’s 8-1 Jareth Loveberry Larry Rivelli
4 Confidence Game 17-1 James Graham Keith Desormeaux
5 Tapit Trice 9-2 Luis Saez Todd Pletcher
6 Kingsbarns 10-1 Jose Ortiz Todd Pletcher
7 Reincarnate 13-1 John Velazquez Tim Yakteen
8 Mage 18-1 Javier Castellano Gustavo Delgado
11 Disarm 25-1 Joel Rosario Steve Asmussen
12 Jace’s Road 32-1 Florent Geroux Brad Cox
13 Sun Thunder 30-1 Brian Hernandez Jr. Kenny McPeek
14 Angel of Empire 9-2 Flavien Prat Brad Cox
16 Raise Cain 30-1 Gerardo Corrales Ben Colebrook
17 Derma Sotogake 7-1 Christophe Lemaire Hidetaka Otonashi
18 Rocket Can 27-1 Junior Alvarado Bill Mott
21 Cyclone Mischief 30-1 Irad Ortiz Jr. Dale Romans
22 Mandarin Hero 21-1 Kazushi Kimura Terunobu Fujita
23 King Russell 31-1 Rafael Bejarano Ron Moquett

What are the Derby preps?

The Kentucky Derby has several tiers of qualifying races, with points, to determine the 20-horse field. The following events have the most value, with 100 qualifying points to the winners and 40 points for second place.

Race Date Track Purse
Louisiana Derby March 26 Fair Grounds Race Course $1 million
UAE Derby March 26 Meydan Racecourse, Dubai $2.5 million
Florida Derby April 2 Gulfstream Park $1 million
The Arkansas Derby April 2 Oaklawn $1 million
The Blue Grass April 9 Keeneland $1 million
The Santa Anita Derby April 9 Santa Anita Park $750,000
The Wood Memorial April 9 Aqueduct $750,000

These events have become an excellent reference for sizing up the Kentucky Derby field. After observing the prep races and picking a Derby horse, what are the betting options?

Common Kentucky Derby bet types

There are a number of common bets when it comes to the Kentucky Derby.

  • Win: As it sounds, select the top horse. Odds are reasonable for any winner in this race, given the top competition. The minimum bet is usually $2.
  • Place: Choose a horse to finish second or higher. This will pay less than the win bet, but it provides a payout in the first and second slots.
  • Show: Bet on a horse to finish third or higher. This pays lower than win or place, but it pays out if your horse finishes first, second or third.
  • Exactas: Select the order of the top two finishers. It’s always good to box them. You’d hate to have the right two horses in the wrong order, especially in the Derby, with a 20-horse field.
  • Trifectas: Pick the top three finishers in order. Wagered via straight bet, this type of bet is a box of three or more horses, or a partial wheel.
  • The Box: A $1 trifecta box with three horses costs $6. Any combination of these three horses in the top three positions becomes a winning ticket.
  • The Key: For the same $6, bettors can place a horse in the first spot, followed by three others in the second and third slots. For example, a $1 trifecta key with the “1” over the “2-3-4” means the 1 horse must win and any combo of the 2-3-4 in the next two slots is a winning ticket. For $12, you can take that 1 horse in the first AND second position with the other three horses.
  • Superfecta: Pick the top four horses in the correct order. Same combinations as can be used for trifectas. The superfecta is often lucrative, but extremely hard to hit. The $1 Derby superfecta last year paid $7,925.80.

Other bets include Pick 3Pick 4Pick 5 and Pick 6. These involve bettors picking the winner in three, four, five and six straight races, respectively. If you make only one selection for each race, these bets can be entered for small amounts, such as $0.50 or $2.

Seasoned players will try to expand the ticket, taking multiple entries in most of the races. The key to this strategy is finding at least one race to have a “single.” That means you make just one selection in that race.

How to handicap the Derby

Combine the recent history of the race structure and modern technology. This has resulted in favorites usually winning the Derby or running very well.

A few years back, racing officials began disregarding sprint races in the qualifiers. That means Derby horses have to prove themselves at a distance.

For the Derby, this format eliminates the “speed” horses who set a blistering early pace and occasionally drew other horses into what’s known as a “speed duel.” This weakened the frontrunners and set up other horses, usually longshots, to rally from far back and win down the stretch. No more.

Now, the eventual race winner is usually close to the lead early on, and times are slower than in the past. Favorites now run well in the Derby. Recent winners (and pre-race odds) include:

  • 2014: California Chrome (5-2)
  • 2015: American Pharoah (5-2)
  • 2016: Nyquist (2-1)
  • 2017: Always Dreaming (9-2)
  • 2018: Justify (5-2)
  • 2019: Maximum Security (9-2); Country House (65-1) was later awarded the victory
  • 2020: Tiz the Law (3-5) was nipped in a thrilling stretch duel with Authentic (8-1)
  • 2021: Mandaloun (12-1). Medina Spirit (15-1) was the initial winner and was later disqualified after a months-long investigation into doping.

Handicapping tips

First off, respect recent history. The Florida Derby winners have traditionally performed well. One possible explanation, however, is the five-week time between races, which may be ideal for some horses. In any case, this is a worthy handicapping variable.

Second, watch the prep races. You don’t even have to do this live. Simply watch a replay on YouTube. You want to evaluate the running style of the winning horse. Was he near the lead early or did he move late? Did he have an easy trip around the track or did he have to weave through a wall of horses to get top position? There is no prep race that exactly matches the 1¼-mile Kentucky Derby. It may be asking a lot from a horse that was fading at the end of a 1 1/8-mile race to improve at a longer distance.

Next, obtain a daily racing form, usually available online. This details a horse’s full history and may reveal matchups against other Derby participants.

Watching the early races on Derby day could also pay dividends. How is Churchill Downs playing that day? Are the frontrunners winning or are the winners coming from off the pace? Is there an edge on the inside, the middle or the outside of the track?

Beware the conditions. If there is a sudden downpour or rain throughout the day, all handicapping angles may become moot. Check the weather throughout the week.

Lastly, don’t put everything on one horse. The Derby is famous for horses being trapped in logjams and never finding racing room. Have a backup ticket in case your favorite horse gets what’s known in the industry as a “bad trip.”

Where to bet in NY

Facility Address City
Aqueduct 11000 Rockaway Blvd Ozone Park
Belmont Park 2150 Hempstead Turnpike Elmont
Buffalo Raceway 5600 McKinley Parkway Hamburg
Finger Lakes 5857 NY-96 Farmington
Monticello Raceway 204 NY 17 B Monticello
Saratoga Race Course 267 Union Ave Saratoga Springs
Tioga Downs 2834 W. River Rd Nichols
Vernon Downs 4229 Stuhlman Rd Vernon
Yonkers Raceway 810 Yonkers Ave Yonkers

Kentucky Derby highlights

Legendary Secretariat set the Derby record in 1973 with a time of 1:59.40. Secretariat had the all-time Triple Crown run in 1973, establishing records in the Derby, the Preakness (1:53) and Belmont Stakes (2:24) that still stand nearly 50 years later.

The biggest Kentucky Derby longshot win came in 1913, when Donerail paid out at 91-1 odds.

The highest attendance ever was in 2015, with 170,513 people.

Thirteen horses have gone on from the Kentucky Derby to win the Triple Crown. They are:

Horse (Year)
Sir Barton (1919)
Gallant Fox (1930)
Omaha (1935)
War Admiral (1937)
Whirlaway (1941)
Count Fleet (1943)
Assault (1946)
Citation (1948)
Secretariat (1973)
Seattle Slew (1977)
Affirmed (1978)
American Pharoah (2015)
Justify (2018)

The last two Triple Crown champions have been led by Hall of Fame trainer Bob Baffert. He is tied with Ben Jones for most Derby wins (six) and will likely have horses entered again this year.

Kentucky Derby FAQ

Yes. The TVG horse betting app provides an option for New York bettors to wager on the Derby, and there are other horse betting apps to choose from, as well.

NBC is the broadcast home for the Kentucky Derby. You can catch the main race and other races there, while NBCSN will also chime in with coverage of the preliminaries. For streaming, NBC Sports provides coverage online and via its app.

Approximately two minutes.

Nearly $1 million, courtesy of the era of superfecta payouts for the top four finishing spots and a longshot race for the ages. In 2005, Giacomo prevailed at 50-1, followed by Closing Argument at 71-1 and Afleet Alex at 9-2. Don’t Get Mad completed the superfecta at 29-1. The ticket paid an unbelievable $864,000 for the $2 superfecta, still the largest Derby payout ever.

Barring any late changes, the winning connections earn $1.86 million, or 62% of the $3 million total purse. Second place is $600,000 Third place is $300,000.