The Kentucky Derby is horse racing’s most celebrated event, and indeed one of the big milestones in sports, generally speaking, every year. The best three-year-old thoroughbreds gather together the first Saturday every May at Churchill Downs in Louisville to Run for the Roses.
Millions watch the broadcast and live stream every year. Meanwhile, Indiana bettors have plenty of options for betting on the race, including online via FanDuel Racing.
Here is a quick rundown of information regarding how to bet on the Kentucky Derby in Indiana, details regarding Kentucky Derby odds, what kind of bets you can make on the Kentucky Derby, and a brief history of the race.
2024 Kentucky Derby odds
The 2024 Kentucky Derby took place on Saturday, May 4. One week earlier, the post position drawing was held to determine where each of the 20 horses would begin the race. That was also when the opening odds, also called the “morning line odds,” were first announced.
Here’s a look at how the draw went those opening odds for the 2024 Kentucky Derby:
| Post Position | Horse | Morning Line Odds |
|---|---|---|
| 1 | Dornoch | 20-1 |
| 2 | Sierra Leone | 3-1 |
| 3 | Mystik Dan | 20-1 |
| 4 | Catching Freedom | 8-1 |
| 5 | Catalytic | 30-1 |
| 6 | Just Steel | 20-1 |
| 7 | Honor Marie | 20-1 |
| 8 | Just A Touch | 10-1 |
| 9 | Encino | SCRATCHED |
| 10 | T O Password | 30-1 |
| 11 | Forever Young | 10-1 |
| 12 | Track Phantom | 20-1 |
| 13 | West Saratoga | 50-1 |
| 14 | Endlessly | 30-1 |
| 15 | Domestic Product | 30-1 |
| 16 | Grand Mo The First | 50-1 |
| 17 | Fierceness | 5-2 |
| 18 | Stronghold | 20-1 |
| 19 | Resilience | 20-1 |
| 20 | Society Man | 50-1 |
| 21 | Epic Ride | 50-1 |
| Mugatu (Alternate) |
Once advanced deposit wagering on the race opened up, the odds started shifting in response to wagers placed. When post time arrived, eventual winner Mystik Dan‘s odds had lowered a bit to 18-to-1. That was still good enough for anyone with a $2 ticket to win to earn a nice $39.22 payout.
How to bet on the Kentucky Derby
Kentucky Derby betting in Indiana is easy. You can bet on the race online via multiple horse betting sites, including FanDuel Racing. These sites are quite easy to use, even for those just getting started with horse race betting.
If online betting isn’t your thing, you can also bet in person at any of the Winners Circle locations in Indianapolis, New Haven or Clarksville.
Types of horse racing bets you can make on the Kentucky Derby
Let’s quickly review some of the more common ways to bet on the Kentucky Derby, then we’ll also talk about some less common types of wagers you can also make on the race.
The most popular bet to make is a bet on which horse will win the race. You’ve heard the phrase “win, place, or show” before, which references betting on horses finishing in the top three spots as follows:
- Win — a bet on a horse to win the race
- Place — a bet on a horse to finish first or second
- Show — a bet on a horse to finish first, second, or third
When you place these win, place, or show bets online or in person, you’ll usually find you can bet as little as $2 (or even sometimes $1). Whatever the odds are when the race begins, that indicates how much you will win if you’ve made a successful bet.
To provide a dramatic example, the 2022 Kentucky Derby was won by Rich Strike, a huge underdog who improbably won with odds of 80-to-1. The payouts for Rich Strike were therefore quite big for those lucky bettors who took the long shot. For a $2 bet on Rich Strike paid $163.60 to win, $74.20 to place, and $29.40 to show.
- Exacta — a bet on one horse to win and another to place (finish second) in that exact order
- Quinella — a bet on one horse to win and another to place, but the order doesn’t matter
- Trifecta — a bet on one horse to win, one to place, and a third horse to show, and like the exacta you have to get the order correct
- Superfecta — a bet on the top four finishing horses, again in the exact order
As you might imagine, hitting one of these wagers pays out handsomely, but it is obviously more challenging to correctly pick the finishes of multiple horses than it is to pick just one.
You can box those exotic wagers that require you to get the exact finishing order, which means you no longer have to get the order correct. In fact, a quinella is essentially an exacta box bet. A trifecta box lets you win as long as you get the first three horses correct, no matter the order. Same for a superfecta box. But realize these wagers cost more because they are essentially many wagers combined as one.
There are other variations like wheel bets and key bets. When betting in person, you can always ask the teller for help sorting through the different types of wagers. When betting online at FanDuel Racing and other sites, check out the user information for details on the different bet types you can make and how they work.
History of the Kentucky Derby
Here are a few quick facts regarding the long and storied history of the Kentucky Derby:
- The first Kentucky Derby took place in 1875. The race was 1 1/2 miles then, and the winner was Aristides.
- In 1896, the race was shortened to 1 1/4 miles which it remains today.
- The biggest long shot ever to win was Donerail in 1913 who was 91-to-1.
- The fastest Kentucky Derby time ever was achieved by Secretariat in 1973 who finished in 1:59.40. The 2001 winner Monarchos is the only other horse to break two-minute barrier, finishing in 1:59.97.
- The largest margin of victory is eight lengths, achieved multiple times.
- Three fillies have won the Kentucky Derby — Regret (1915), Genuine Risk (1980) and Winning Colors (1988).
- Two jockeys have won the Kentucky Derby a record five times, Eddie Arcaro and Bill Hartack.
- Calumet Farm holds the record for having produced the most Kentucky Derby winners with 10, including 2022 champ Rich Strike.
- Ben Jones and Bob Baffert are tied with the most wins by a trainer with six.
- The 2024 Kentucky Derby features the largest purse ever at $5 million. The winner gets $3.1 million.
