How to Bet on the Kentucky Derby Online – Our Expert Strategy Guide

Adam Haynes

Equine expert

Fact Checked by

Jamie Clark

Updated: 15 April 2024

Learning how to bet on the Kentucky Derby online can help you win money on the big race. You can start by opening an account with one of our recommended offshore betting sites. If you wish to wager on this year’s Derby, our expert strategy guide covers everything else there is to know.

What is the Kentucky Derby?

The Kentucky Derby, usually hosted on the first Saturday of May, is one of the world’s most prestigious horse races. Held annually at Churchill Downs in Louisville, Kentucky, it is the first of three Thoroughbred races that form the American Triple Crown series – the others are the Preakness Stakes and Belmont Stakes.

As far as American races go, this Grade I stakes event is the big one for many racing fans. It is the most watched and attended horse race in the US, with Kentucky Derby odds also wildly popular online.

First held in 1875, the race is exclusive to three-year-old Thoroughbred horses who compete over a distance of 1+¹⁄₄ miles (10 furlongs). To earn a place at the 20-strong starting gate – which makes the race the largest field in American racing – and among Kentucky Derby post positions, each horse must travel the Road to the Kentucky Derby. This consists of races in both the US and other parts of the world.

Where Can I Bet on the Kentucky Derby?

There are two main ways to bet on the Kentucky Derby – with land-based sportsbooks or online. If racing fans aren’t looking to back potential contenders at Churchill Downs or anywhere else, we recommend wagering with our selected offshore sportsbooks.

These sites are 100% safe and secure with excellent odds and bonuses available to claim. All sites offer several payment options for depositing and withdrawing. You can find a plethora of different wagers and betting opportunities at each one.

Best Kentucky Derby Betting Sites

• All

Get a 50% Bonus up to $1000 when joining BetOnline

01/03/24

Get a 50% Bonus up to $1000 when joining BetOnline

• Crypto bonus & free play offer
• Track profile of Churchill Downs
• Up to 9% daily rebate deal

9.7

NO CODE REQUIRED

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Website:BetOnline

Owner:Eddie Robbins III

Founded:1991

Headquarters:Panama City, Panama

Get a 75% Match Bonus up to $750 when joining Bovada

01/03/24

Get a 75% Match Bonus up to $750 when joining Bovada

• 75% crypto match bonus on sign-up
• Request Kentucky Derby bets with #What'sYaWager on X
• Innovative Parlay Booster feature gives you extra

9.6

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Owner:Morris Mohawk Gambling Group

Founded:2011

Headquarters:Quebec, Canada

Join BetUS and Get a 150% Bonus Up To $3,750 + 30 Risk-Free Bets

28/03/24

Join BetUS and Get a 150% Bonus Up To $3,750 + 30 Risk-Free Bets

• Serving US bettors since 1994
• Dedicated racebook with Money Back Special
• Kentucky Derby betting previews and tips

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Founded:1994

Headquarters:San Jose, Costa Rica

100% Welcome Bonus up to $500

01/03/24

100% Welcome Bonus up to $500

• US-focused horse racing odds and markets
• 100% sign up offer for new customers
• Excellent horse racing track games

9.6

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Owner:Thinkquick Ltd

Founded:1996

Headquarters:Antigua and Barbuda

Join MyBookie for Reload Bonuses and 8% Racebook Rebates

01/03/24

Join MyBookie for Reload Bonuses and 8% Racebook Rebates

• Sizeable reload bonus claimable on the Kentucky Derby
• Plenty of futures odds for Churchill Downs
• 8% horse racing rebate deal

9.6

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Founded:2014

Headquarters:San Jose, Costa Rica

Get a 200% Crypto Bonus when you join BetNow

01/03/24

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• 10% weekly rebate on horse racing losses
• 200% crypto sign up bonus
• Strong odds for Parlays, Pick 6, Superfectas, and other bets

9.6

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Founded:2016

Headquarters:Curacao

Get a 100% Welcome Bonus + Free Contest Entry Kit at JazzSports

01/03/24

Get a 100% Welcome Bonus + Free Contest Entry Kit at JazzSports

• 10% rebates on tracks including Churchill Downs
• Crypto-friendly with reflective bonuses
• Great features like Props Builder and Fantasy Contests

9.6

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Owner:Jazz Business Solutions B.V

Founded:1994

Headquarters:Curacao

Double Your Money on your First Two Deposits at Sportsbetting.ag

28/03/24

Double Your Money on your First Two Deposits at Sportsbetting.ag

• $25 horse racing free play can be used on the Kentucky Derby
• Excellent Racebook 101 feature
• Nice range of promotions includes 10% horse rebate

9.6

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Owner:BetOnline

Founded:2003

Headquarters:Panama City, Panama

Get $2,500 On Signup

08/03/24

Get $2,500 On Signup

• Get up to $2,500 bonus when betting with crypto
• Nice racebook with Grades Stakes Race Schedule
• Free horse racing betting tips available

9.6

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Owner:Duranbah N.V.

Headquarters:Costa Rica

Get a First Deposit Sports Bonus Up To $500 at XBet

04/03/24

Get a First Deposit Sports Bonus Up To $500 at XBet

• Up to $500 welcome bonus
• 7% horse racing rebate available
• Unlimited referral bonus scheme

9.6

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Founded:2013

Headquarters:Costa Rica

How Do I Bet on the Kentucky Derby? – Payment Methods

Most offshore bookies have a few different banking methods you can use for deposits and withdrawals. When learning how to bet on Kentucky Derby at online sportsbooks, we recommend choosing the best ones suited to your needs. All deposit methods are instant, but withdrawal times vary – also, not all are eligible for claiming bonuses.

Cards

Almost everyone has a bank card, which makes this arguably the easiest deposit method. Some bookies may charge for using cards – credit cards may also incur fees from your card provider. Here are the main types of cards that sportsbooks may accept.

Most offshore betting sites accept credit cards for deposits but not all allow you to withdraw with them. Banks may restrict payments made to offshore sportsbooks – this is worth keeping in mind before choosing cards as your Kentucky Derby payment method.

E-Wallets

Also known as digital wallets, e-wallets may be accepted at some sites. The most popular e-wallets to use at betting sites are as follows.

E-wallets are easy to fund and offer a convenient way to withdraw, too. Unfortunately, Neteller does not accept US customers. PayPal does not allow gambling transactions for US customers, meaning that Skrill is likely to be the only e-wallet offered at most sites.

Cryptocurrency

Cryptos offer safe and private ways to pay and cash out, as you don’t need to provide card details. Cryptocurrencies may also get you higher deposit match bonuses and offers from bookies – you’ll need a crypto wallet before you can use them, however.

Offshore sites value crypto transactions, making it a good payment method to use. It can take less than an hour to receive withdrawals using most major coins like BTC and Ethereum. You can also link your PayPal account when using Bitcoin and other cryptocurrencies.

Other Banking Options

Cards, e-wallets, and cryptocurrencies are the most popular ways to deposit and withdraw. There are other ways to fund your wallet if you want to bet on Kentucky Derby online. Some of these methods are available at our recommended offshore betting sites.

Most sites allow you to see their deposit and withdrawal methods before you sign up. To do this, visit the sportsbook’s cashier page or look for information on their site regarding the methods they accept. If you can’t find that information, reach out to customer support with any questions.

How Does Betting on the Kentucky Derby Work?

All bets placed on “The Run for the Roses” are horse racing wagers. But not all bets work the same way or pay out the same amount. Here are some Kentucky Derby odds and bets examples to help you understand how things work.

Fixed Odds Wagers

Standard wagers (including futures) are fixed odds bets, meaning you can calculate Kentucky Derby payouts based on the odds and your stake. To place a standard “to win” bet, you pick one or more horses and place your stake at odds offered by the sports betting site. Here are some examples.

You’re not required to bet $100 on any horse. Bookies may set a minimum stake below this, but it will depend on the offshore sites you sign up with. To work out any potential winnings, however, you must first know how much you are placing on each horse.

Dividend Payouts for Win, Place, and Show

You can also place pari-mutuel (pool wagers) on horses to place or show, which are paid out as dividends after the race. You won’t be able to work out returns until dividends have been published – when they are, multiply the amount by your stake. Here’s an example using Kentucky Derby results from last year.

Place wagers pay out if the horse finishes 1^st or 2^nd. Show wagers pay out if the horse finishes in any of the first three positions. Payouts are smaller for this horse racing event if the horse only manages to place or show.

You can also bet across the board, which pays out if a horse finishes 1^st, 2^nd, or 3^rd – these wagers cost x3 your bet to accommodate the covering of each finishing position. If it wins you get paid out for all three bets, with 2^nd covering place and 3^rd only paying out for show.

How to Bet on the Kentucky Derby Online Strategically

Wagering on the Kentucky Derby involves gambling with real money. As such, it often pays to be sensible – remember to set a bankroll and only spend what you can afford to lose. Here are some strategy tips that will also help to aid a good betting experience.

1. Look for Expert Tips and Advice

You will find Kentucky Derby betting picks will be front and center in the lead-up to the race at Churchill Downs. Instead of following any advice, you can find our expert tips on this site.

There are also knowledgeable handicappers online and on social media, offering great advice that doesn’t cost a cent. One of our favorite communities is r/horseracing on Reddit.

2. Study Form and Pedigree

We recommend studying a horse’s form ahead of race day. Competitors that have performed well in previous races like trials and prep races may be worth considering. Just like the Kentucky Derby schedule, or racing program, details of these races are published online.

Given the limited knowledge we have on these three-year-old Thoroughbreds, it may be worth looking at the sire (father) and a dam (mother) of horses. Again, this information is available online for free.

3. Check the Local Weather in Louisville

Even if not attending the Derby in person, knowledge of the weather at Churchill Downs may be of benefit. As this race is run on a dirt track, the weather may have already been instrumental in how your Kentucky Oaks picks went the previous day. Fast usually means a dry and even surface; muddy and sloppy, however, aren’t always ideal.

One of the advantages of following horse form in preps and trials is seeing how they perform in different weather. Horses run faster on dryer surfaces; but if the track condition is sloppy or muddy, this may not be ideal for getting the best out of them. Expert handicappers consider the conditions of race tracks and the weather – this knowledge cannot be applied when placing futures bets too far out.

4. Compare Lines to Find the Best Odds

When you have done your research on the horses to bet on at the Kentucky Derby, it’s time to find the best lines ahead of race time. Offshore racebooks and sportsbooks may offer different prices for the same horses. Some may be better for #1 and #2 but not as good as other sites for #3 and #4.

The best thing to keep in mind is that you can sign up with more than one bookie. If you are betting more than one horse – and can get better prices by betting at different sites – we recommend considering this. You might also think about accepting multiple bonuses as part of your Kentucky Derby betting strategy.

5. Diversify Your Bets

Don’t put all your eggs in one basket. To be more precise, don’t exhaust your budget wagering on one horse. With so many variables to consider – such as the 20 runners making it the largest field in American racing – there are no guarantees one will outperform the rest.

It takes one simple glance over the Kentucky Derby winner’s list to see that the race is far from predictable. As such, spreading your budget over two or three picks – or even making a couple of recommended expert Triple Crown picks and exotic wagers such as exactas – might be a better idea.

FAQs

Adam Haynes

Equine expert

Our racebook reviewer Adam Haynes knows what best in class looks like and gives a balanced view of all those betting sites that appear here. If you want to know the pros and cons of wagering with a firm, he knows them from every angle.

View all posts by Adam Haynes