How To Bet The Kentucky Derby

The 149th running of the Kentucky Derby took place on Saturday, May 6. Mage was the surprising winner at odds of 15-1, followed by Two Phil’s in second place and betting favorite Angel of Empire in third. Often dubbed “the greatest two minutes in sports,” the race sees the nation’s top 3-year-old thoroughbreds battle it out at Churchill Downs in Louisville, Kentucky, and always attracts a lot of betting. Let’s take a look at how to bet on the Kentucky Derby.

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How to bet on the Kentucky Derby online

Online betting on horse races is legal and available in multiple states. To do so, you’ll need to do the following:

FanDuel Racing is available in these states:

2023 Kentucky Derby morning line odds and post positions

The full field, post positions and final odds for the 2023 Kentucky Derby are below. Get more information on Kentucky Derby odds here.

PositionHorseFinal oddsOpening odds
1Hit Show25-130-1
3Two Phil’s8-112-1
4Confidence Game17-120-1
5Tapit Trice9-25-1
12Jace’s Road30-150-1
13Sun Thunder29-150-1
14Angel of Empire9-28-1
16Raise Cain29-150-1
17Derma Sotogake8-110-1
18Rocket Can27-130-1
21Cyclone Mischief29-130-1
22Mandarin Hero20-120-1
23King Russell30-150-1
Odds provided by FanDuel Racing

Best site for betting on the Kentucky Derby

For betting on horse racing legally in the US, FanDuel Racing is a solid option. The site provides coverage for all of the top tracks across the globe, and betting on major races such as the Kentucky Derby is among the featured offerings. 

FanDuel Racing also has a clear layout that makes it easy to use. You can sort through the upcoming races with ease, and there are even some built-in options — some of which are free — that can help you handicap the races. The racebook is available on the web and via mobile devices, and it also has live streaming and a dedicated channel for horse racing action.

Signing up for Kentucky Derby betting

The sign-up process at FanDuel Racing is fairly quick. Head to the site via the link above to claim the welcome bonus, and then do the following: 

To begin wagering, you’ll then need to make a deposit. The available banking options may vary by state, but they typically include the following: 

Deposits will process instantly, so you can expect to see the money in your account immediately. When it’s time to make a withdrawal, processing times can vary based on the method that you choose, but things tend to move quickly here, as well. 

Available Kentucky Derby bets

There are several different ways to wager on the Kentucky Derby on the day of the race. At the top of the list are the main single-race bets

You can also tie all three of the wagers together into a win/place/show bet. Known as betting across the board, the goal is to make a clean sweep if you land on the horse that wins the race. If you do so, you’ll win all three bets. 

Unlike betting on other sports, the amount of your potential payout is not directly tied to odds that the book sets, but rather to the amount of money in the pari-mutuel pool. For example, a winning bet will depend on the total dollar amount in the pool for that bet and the number of betting tickets. 

You can also take your chances on bets with multiple horses, aka exotics. While such wagers are not easy to win consistently, the payout can be large if you do manage to get one right. 

As mentioned, for all of these bets, you’re attempting to pick the horses in the exact order. You can also box your selections, which means the order no longer matters. Another option is to wheel your picks, which means that you are mixing up your selections for each finishing position in various ways.  

The cost for exotic wagers can quickly climb based on the number of selections that you include on the ticket. As always, there are no guarantees simply because you think you’re covering more bases, so be sure to keep that in mind as you build your bets. 

Last but not least, while the Kentucky Derby is the biggest race of the day, the card at Churchill Downs also contains other races. You can bet on each of them individually as well, but there are also ways to bet on multiple winners across the day. 

For all of the above, the goal is to pick the winner in a number of consecutive races: three for the pick 3 and so on. The minimum wager for these bets is typically small, but you can make multiple picks for each race, with the cost rising accordingly.

2023 Kentucky Derby news and notes

2023 Kentucky Derby race facts

There have been 149 runnings of the world’s most famous horse race. Here are some of the key points for the 2023 Kentucky Derby:

How and where to watch the Kentucky Derby

NBC is the broadcast home for the Kentucky Derby. The network will be providing coverage on the main broadcast channel, as well as on Peacock, the NBC Sports app and You can stream the Derby directly to your mobile device.