Three online sportsbooks are jockeying for position ahead of Saturday’s Kentucky Derby.
FanDuel, DraftKings, and PointsBet now offer a horse betting option. FanDuel Racing is built directly into the FanDuel Sportsbook app, and features shared-wallet technology. Customers can use a single deposit across FanDuel’s horse racing, sports betting, and online casino offerings.
DK Horse is separate from the DraftKings Sportsbook app and requires a new registration. PointsBet Racing is also a separate app, though PointsBet Sportsbook users can use that same log-in to access the racing app.
Each app offers daily betting on live racing worldwide, including Kentucky Derby betting.
Partnerships with Derby owner Churchill Downs Inc.
TwinSpires, a horse racing-specific advance deposit wagering (ADW) platform owned by Churchill Downs Inc. (CDI), provides the app technology to FanDuel and DraftKings.
Coordination has taken shape since the fall. CDI announced its B2B partnership with FanDuel in September and its deal with DraftKings in November.
On a quarterly earnings call last week, CDI chief executive Bill Carstanjen asked investors for patience before unpacking the early financial figures around the arrangements. With the Kentucky Derby, and the entire Triple Crown racing series, happening in the second quarter, Carstanjen believes this summer will bring a more accurate assessment of the partnerships.
FanDuel Racing launched within the FanDuel Sportsbook app in December. DK Horse launched more recently in March.
Things ‘look promising’ for DK Horse
DraftKings’ horse racing venture has been in the works for several years. Johnny Avello, Director of Race & Sportsbook Operations at DraftKings, told LSR this latest initiative is about providing the whole gamut to customers.
“We’re an aggressive company and horse racing probably needs a kick in the butt,” Avello said. “We’re in the game now, and things look very promising within five weeks. We’ll have other things to offer to shake up the game a little bit.”
Avello pointed at the Preakness Stakes, Belmont Stakes, racing meets at Saratoga and Del Mar, and the Breeders’ Cup as events DraftKings will focus on the rest of the year.
PointsBet latest to enter Kentucky Derby betting market
PointsBet Racing launched most recently Thursday. Users can stream live races and replays from 180 tracks worldwide.
The app includes what PointsBet described as “deep link technology,” allowing customers to move back and forth between its racing and sportsbook apps with no separate log-in.
In October 2022, PointsBet teamed with 1/ST Technology, a division of The Stronach Group, to provide the technology behind its new racing platform.
Where are new apps available for Kentucky Derby betting?
Most dedicated horseplayers bet online through horse racing-specific ADWs like TwinSpires, TVG, or NYRA Bets.
The newer racing offerings from FanDuel, DraftKings, and PointsBet are available in various states.
|FanDuel Racing*||DK Horse||PointsBet Racing|
*FanDuel Racing is available in additional states as a separate app.