Current Kentucky Derby Odds 2024 – How They Bet On The Big Race

Adam Haynes

Equine expert

Updated: 1 May 2024

Finding the best Kentucky Derby odds may be favorable to betting success in this year’s big race. We have identified the best offshore bookies with odds for “The Run for the Roses” – compare lines to find what works best for you.

The greatest two minutes in racing goes down on Saturday, May 4 at Churchill Downs. Our guide explains all there is to know about the odds for the Kentucky Derby as well as the most popular bets to target.

Latest Kentucky Derby Odds 2024

Here are the latest future odds for the big race. We’ve taken odds from three of our top Kentucky Derby sportsbooks and horse racing betting sites to show you differences in prices.

How Kentucky Derby Odds Work

The odds offered by bookies reflect the implied probability of any hopeful Kentucky Derby horses winning the race. In horse racing, we have favorites and outsiders; favorites are typically the most fancied due to their perceived superiority. In the Kentucky Derby, it’s no different.

Bookies have different ways of presenting these odds, however. Learning how to read them can be of benefit to you in identifying good betting value.

How To Read Kentucky Derby Odds

Part of understanding how to bet on the Kentucky Derby correctly, is knowing that most US bookies present prices in the American or “Vegas” format. This is perhaps the easiest way to work out a win against positive odds, as it is worked out based on a $100 wager. Some online betting operators also use fractions and decimals – there is almost always an option in your settings to change from American to at least one of the others.

Here’s an example of how betting sites may display odds for different horses using alternative odds formats.

The one downside with American odds is that the concept changes when there is a minus and not a plus in front of them. For instance, if Sierra Leone was priced at -150 instead of +700, this means you must bet $150 to win $100 in profit. If he was -450, you must bet $450 to win $100 profit, and so on.

Using the table above, here are some examples to help you work out odds using different formats.

Different Types of Kentucky Derby Betting Odds

Kentucky Derby odds today are much greater in variety than they were a couple of decades ago. As such, you can find a myriad of popular bet types to try out on America’s greatest race.

Kentucky Derby Futures Odds

These are essentially fixed odds wagers on “The Run for the Roses” that have been placed in advance. You may also find odds for Triple Crown picks in the futures category. They are especially popular with bettors looking to lock in on some early betting value.

Many online sportsbooks publish Kentucky Derby future odds to attract early betting interest. These prices can change dramatically in the run-up to May’s event at Churchill Downs, with performances in Prep Season making a difference.

Kentucky Derby Pool Odds

American pari-mutuel betting pools don’t have fixed odds. Instead, the Kentucky Derby payout on a horse with these types of bets is determined by the amount of money placed (pooled) on it. That amount you receive is divided by – and then shared with – the number of bettors who paid into the pool.

As you may expect, the most popular horses tend to attract more pool betting action than the 15-1 betting choice that emerged from out of nowhere. On the flip side, larger payouts will usually come through for those not considered among the favorites in the Vegas odds for Kentucky Derby.

Available Kentucky Derby Lines & Markets

There is more to the big race than picking Kentucky Derby future odds or taking part in pari-mutuel pools. We recommend getting acquainted with these bets before circling favorites from your list of Derby contenders.

Standard Wagers

The most straightforward of bets you can place on the Kentucky Derby are win wagers and other standard picks. They work the same as standard Kentucky Oaks picks and those for other races, and are usually the most popular wagers you can place on the big one.

Win Only Bet

You’re picking a horse you think will win the race – it’s that simple. A win bet pays out once your horse crosses the finish line first and is declared the official winner of the Kentucky Derby.

Place Bet

A placed bet involves a horse finishing either 1^st or 2^nd in the race. This may be a good choice of bet if you don’t believe Kentucky Derby odds live up to the horse’s chances of making it a showdown at the final furlong.

Show Bet

A successful show bet is when the horse finishes 1^st, 2^nd, or 3^rd. Given the greater chance of winning a show bet due to the extra place, the odds for a show bet will always be lower than the odds for a place bet for the same horse.

Across the Board

One of the more exciting bets for the Kentucky Derby, across the board is wagering for the same horse to win, place, and show – all on one ticket. These Kentucky Derby tickets does cost x3 your unit stake, however. If your selection wins at this famous horse race, you get paid out for all three. Should it place, you get paid out for the place and show. However, if it shows, your returns will be for that portion of the wager only.

Exotic Bets

These types of wagers are also very popular among bettors. Here are some exotic wagers can find available to place at Kentucky Derby racebooks this year.

Exacta

This bet involves picking two horses to finish exactly in 1^st and 2^nd places, with horses picked by their numbers. Exactas are pari-mutuel wagers which means you won’t know the payout until the race has concluded and bets have been settled. These bet wagers can often pay out high sums and start with minimum bets of around $2 per ticket.

Quinella

Like an exacta, the idea behind this bet is to pick two horses to finish 1^st and 2^nd. Unlike an exacta, you don’t need to specify the exact order when making the wager – this means you can pick 7 and 2 and still win if the finish order is 2 and 7. Minimum stakes usually start at $1 a pop.

Trifecta

Trifectas are like exactas but you’re choosing three, rather than two horses, to finish in precise order. You also have the option to “box” selections which will then pay out in any of the six combinations possible. The minimum stake for Kentucky Derby trifecta picks and bets is adjusted to around 50 cents per wager or pemutation in most cases.

Superfecta

A superfecta bet is one of the toughest wagers you can try to win, given the requirement to pick four horses finishing in a precise order. However, you can also box your picks. Pulling off Kentucky Derby superfecta picks is incredibly difficult, so the minimum stake allowed for this bet is typically around 10 cents.

Super Hi-Five

The super hi-five is an ambitious bet to place. To win, you must pick the first five horses to cross the line in the exact order of their crossing. Or you can choose to box selections, which gives you 120 different permutations covered for those five horses. In 2023, winning super hi-five bets paid out $194,923 according to reliable sources.

Odds of Previous Kentucky Derby Winners

Only three-year-old Thoroughbreds get to race in the big one. This means repeat winners are not something you will come across when reading through Kentucky Derby results and finishing stats. Here’s a snapshot of the last ten years of triumph and glory at Churchill Downs.

The Best Betting Site for Kentucky Derby Odds Today

BetOnline is our top choice for Kentucky Derby betting odds. While all our recommended offshore sportsbooks come with online betting options and competitive lines for Churchill Downs, BetOnline stands out for its commitment to providing quality bonuses, a great mobile product, as well as the best racebook online today!

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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.

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