Expanded Legal Betting Could Mean Record Interest In Kentucky Derby

• The Kentucky Derby is the second-biggest single betting event in sports, turning a global handle of over $1 billion.
• Most US residents should have no trouble finding a convenient, legal venue where they can wager on the Derby.
• Early favorite Omaha Beach has been scratched, opening up lots of value on the odds boards.

LOUISVILLE, Ky. – As we approach the 145th running of the Kentucky Derby this Saturday, interest in the “Fastest Two Minutes in Sports” seems to be at an all-time high. This, in large part, can be credited to expanded sports wagering in the US over the last year.

With nearly a dozen states with legalized sport wagering up and running (and almost two dozen more in the middle of legalizing the pastime), there has been a distinct uptick in interest in – and action on – the ponies.

And naturally, there is no more interesting horse race than the most famous contest on earth. The first leg of the 2019 Triple Crown race, the Derby, has been sold out for months, and the anticipated crowd size is projected to be well over 150,000 bettors, fans, and well-wishers.

Similar to last year, there are predictions that it will once again rain during the 145th Run for the Roses. The National Weather Service predicts a 70% chance of rain, however, this should not impact attendance and it will be another opportunity for the best mudders in the field of 20.

While attending Derby Day (or Derby Weekend) itself is the preferred way to wager on these top Grade I horses, it is far from the only way. Churchill Downs, the famed site of the Derby, will see somewhere in the neighborhood of $150 million in official, venue-related action (including simulcasts).

However, that figure pales in comparison to the actual amount of money US and global bettors will spend on the race. Most credible estimates put the total Derby handle – via all sources both legal and grey-market/black-market – at over $1 billion.

Where Is Kentucky Derby Betting Legal?

Horse racing betting is legal in 40 states, most of which have a long-established system in place that lets horseplayers submit their wagers at local tracks, off-track betting (OTB) venues, and domestic online betting portals.

The 10 states currently without legal means to bet locally on the Kentucky Derby are:

• Alaska
• Georgia
• Hawaii
• Kansas
• Mississippi
• North Carolina
• South Carolina
• Utah
• Vermont
• Wisconsin
• Washington D.C.

However, even those residents living in states where local horse betting is prohibited can bet on the Kentucky Derby at offshore sportsbook and racebook websites. And at least one of the above states – Georgia – appears to be on-track for legalization in the near future (albeit not in time for Derby Day this year).

In short, there is no shortage of where enthusiasts can wager on the 145th Run for the Roses. And because most horse bettors actually have multiple options on where to place their Kentucky Derby bets, it makes good sense to shop lines beforehand.

Books – both on-site and online – will accept Derby wagers until about two minutes before the start of the race, which is slated to get underway at precisely 6:50 p.m. EST on Saturday, May 4.

Whether placing simple straights or complex exotic wagers, bettors need to have their finalized tickets submitted before that time. Racebooks do not offer live betting odds on the 2019 Kentucky Derby.

Latest 2019 Kentucky Derby Updates

While the outlook for the race’s active wagering participation is at a fever pitch, things were tempered a bit last night when pre-race favorite Omaha Beach was scratched from Saturday’s festivities with an entrapped epiglottis.

Omaha Beach will require surgery and will be out until at least the Belmont Stakes, lengthening odds that 2019 will feature a Triple Crown winner.

The colt’s injury also means that Mike Smith, the Triple Crown-winning jockey who rode Justify into the record books last year, will be without a mount in the Kentucky Derby.

However, up until the last few weeks before the Derby, Game Winner was the favorite, and he’s once again atop all betting boards in the wake of Omaha Beach’s exit. Game Winner is trained by Bob Baffert, who won the Triple Crown last year with Justify and in 2015 with American Pharoah.

While this shakeup will surely change the odds on Triple Crown futures, Game Winner is no slouch, and it’s not totally inconceivable that the horse – like Justify last year – could shock the world and become the 14th horse to achieve the coveted trifecta.

Replacing Omaha Beach will be the Kentucky Derby’s sole alternate, Bodexpress. Bodexpress has finished second five times in eight races, and while it’s unlikely he’ll break his maiden at the Kentucky Derby, such an outcome isn’t unprecedented. The last horse to do so was Brokers Tip in 1938.

Over the course of the next two days, it will be paramount to pay attention to early morning-line odds, as horse odds for Kentucky Derby 2019 will shift up and down the boards.

News tags: Kentucky Derby