The Kentucky Derby is one of the sporting events that millions look forward to every year, and that will be no different in 2024, with the race gearing up to celebrate its 150th anniversary.
It is typically a day that attracts those that don’t normally wager on the horses to get involved, as America’s most famous race entices the whole family to open up conversations surrounding who the most likely winner of the race will be.
However, what are some of the key factors that all bettors should consider before making their wager on the opening Triple Crown race of the 2024 season?
Watch The Prep Races
The anticipation for the Kentucky Derby begins to build when the Road to the Kentucky Derby gets underway. Each race on the schedule offers qualifying points, with the top three earning points that could contribute to them securing a starting berth at Churchill Downs.
Overall, there are 37 prep races, with the 15 most important races known as the Championship Season. As well as races in the United States, qualifying points are also offered in races staged across Japan, Dubai, and England. Some races have an excellent reputation of producing Derby contenders, including the Santa Anita Derby, which was won by both California Chrome and Justify.
Meanwhile, prestigious races such as the Wood Memorial and Blue Grass Stakes both boast poor records when it comes to a likely Derby contender, as neither graded race has produced a winner at Churchill Downs in over ten years. Find out more information about it here: https://www.twinspires.com/
Kentucky Derby Betting Markets
Win Betting
The most popular way to make a wager on the Kentucky Derby in 2024 comes in the form of the win market. This selection does pretty much what it says on the tin, as the bettor will be looking to correctly predict the winner of the Triple Crown race.
Betting markets to wager on the winner of the race will typically open after the Breeders’ Cup Juvenile, meaning that bettors can make their wagers early to get the best possible price for their selection. However, if the selection doesn’t line up at Churchill Downs then the stake is lost. Returns are only awarded from this market, if the bettor correctly predicts the winner of the race.
Place Betting
Given the competitive nature of the Kentucky Derby, a lot of bettors typically look to wager on the place betting market. This is an excellent option for bettors looking to get returns on their selection finishing in the first two or three places, meaning that there isn’t extra pressure on the selected runner being the first past the post.
However, place betting is most popular with bettors looking to make a wager on an outsider in the betting, as it will cover an extra layer of insurance if they aren’t able to win the race. Therefore, it is rare that a bettor will look to wager on a short-price favourite for the Derby in this market, as the returns could be minimal.
Exacta/Trifecta Betting
Bettors will go into the Kentucky Derby weekend at Churchill Downs looking to achieve a big victory to cement all their hard work after following the leading contenders throughout much of the last 18 months. The most potentially lucrative markets available to bettors in that regard are the Exacta and Trifecta markets.
Here, the bettor must correctly predict the first two home in the exact order to land the Exacta, and the first three in the precise order to secure the Trifecta. Returns from these markets can be extremely lucrative, but extensive research must be completed to ensure that the bets stand the best chance of winning. That includes examining potential pace angles, as well as assessing the starting stalls for each of the runners involved.
Tips To Consider Before Betting On The Kentucky Derby
Assess Trainer/Jockey
Bettors should always examine the jockey/trainer combination of the runners involved, as those with previous winning experience of the big race will have the know-how to go close again.
Shop Around
The betting odds for the Kentucky Derby are ultra competitive, meaning that it is always worthwhile to shop around to ensure that you get the best possible price for your selection. This will save hassle afterwards, as it could mean that the bettor is able to win more in returns based on the odds that they have found. It is also worth considering that favourites have a great record in the Derby, winning five of the last ten editions.
Study The Draw
Many bettors will wait until after the draw has been made for the race before making their selection for the Kentucky Derby. Interestingly, high draws have achieved great success since 2019, with three of the last five winners being drawn 15 or higher.
