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Adam Haynes

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.

Kentucky Derby Logo

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+14 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.

How to Bet on the Kentucky Derby - Guide to Signing Up

You’ll need a real money betting account at an online bookie to place bets over the internet. Here’s a step-by-step guide that covers how to bet on the Kentucky Derby by first joining a sportsbook.

  1. Select a Betting Site

    We’ve put together the best offshore racebooks for racing fans to choose from. Our top-rated sites are among the best potential contenders, but it’s up to you who to bet with. To get started, choose a site and hit the button to begin the registration process.
    Select a Betting Site
  2. Complete the Registration Form

    Most sites provide a simple and compact form to complete, usually taking around five minutes to populate. You’ll be asked for information such as your name, address, date of birth, email address, telephone number, and postal address.
    Complete the Registration Form
  3. Deposit Funds

    Choose a deposit method from the available options. These may include cards, cryptocurrencies, e-wallets, bank wire transfers, and perhaps more. If you’re claiming a bonus, ensure the method you choose allows you to.
    Deposit Funds
  4. Get Your Welcome Offer

    Our recommended sites all provide a welcome bonus, in one way or another. From deposit match offers and rebates to crypto deals and free plays, choose the deal that best suits you.
    Get Your Welcome Offer

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

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

01/03/24

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  • 75% crypto match bonus on sign-up
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Join BetUS and Get a 150% Bonus Up To $3,750 + 30 Risk-Free Bets

28/03/24

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  • Serving US bettors since 1994
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01/03/24

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01/03/24

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  • 8% horse racing rebate deal
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01/03/24

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01/03/24

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

28/03/24

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08/03/24

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04/03/24

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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

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.

  • Credit Cards
  • Debit Cards
  • Prepaid Cards

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

E Wallet

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.

  • Neteller
  • Skrill
  • PayPal

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

Crypto

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.

  • Bitcoin
  • Ethereum
  • Litecoin
  • Tether
  • USD Coin

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.

  • Cashiers Check
  • Money Order
  • Person to Person
  • Wire Transfer

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 to Place a Bet on the Kentucky Derby

If you are used to placing horse racing bets, wagering on the big race will make more sense. The types of bets available – from straight wins to trifecta bets – will be familiar. If not, follow these steps to help you place your wager.

  1. Log In to Your Account

    Enter the details you registered when signing up with your chosen bookie. This is usually as simple as your username/email address and password. When you’ve signed in, head to the cashier.
    Log In to Your Account
  2. Deposit Funds

    If you are betting with real money, you’ll need to fund your account to continue. When you’re at the cashier, select your payment method and enter how much you wish to deposit. If you’re claiming a bonus or reload, make sure it is valid.
    Deposit Funds
  3. Head to the Racebook

    Many of our top offshore bookies for the Kentucky Derby have a racebook section. Others may simply provide horse racing odds in the main sportsbook. Navigate to the appropriate option to find lines for the Derby – this may be a special part of the site dedicated to the race.
    Head to the Racebook
  4. Choose Your Wager

    Select the bet you want to place. This may be as direct as picking a horse in a straight “to win” wager. Or, it may involve choosing several horses if you are putting together exotic bets. You’ll find your selections available in your betting slip, usually located in the top right corner of the site.
    Choose Your Wager
  5. Enter Your Stake & Place Your Bets

    It’s always a good idea to review your selections. This means you can spot any potential errors or changes in odds. When you are happy with your bets, press the place bet button. That’s it – your wagers are now in!
    Enter Your Stake & Place Your Bets

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.

Horse Odds Stake Total Payout for Win
Dornoch +850 $100 $950 ($850 Profit + $100 Stake)
Locked +1800 $100 $1,900 ($1,800 Profit + $100 Stake)
Encino +2500 $100 $2,500 ($2,400 Profit + $100 Stake)

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.

Horse Number Horse Name Win Place Show
8 Mage $32.42 $14.58 $9.08
3 Two Phil’s $10.44 $6.52
14 Angel of Empire $4.70

Place wagers pay out if the horse finishes 1st or 2nd. 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 1st, 2nd, or 3rd – 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 2nd covering place and 3rd 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.

Kentucky Derby Weather and Going Since 2019

Date Winner Temp. High Temp. Low Weather Condition
May 6, 2023 Mage 79 61 Mostly Cloudy Fast
May 7, 2022 Rich Strike 64 53 Cloudy Fast
May 1, 2021 Mandaloun 76 44 Sunny Fast
September 5, 2020 Authentic 84 59 Sunny Fast
May 4, 2019 Country House 71 58 Showers Sloppy

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.

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Adam Haynes

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.