Best Kentucky Derby Betting Sites and Promos for July 2024

Best legal US Kentucky Derby betting sites & apps

Please note that this page is intended for users in the US and includes all bonus mentions.

When it comes to online betting for the Kentucky Derby, the process is unique compared to placing bets on events like the Super Bowl. While there are only a handful of Kentucky Derby betting sites available, one site that stands out as a leader in the industry is FanDuel Racing. For more in-depth analysis on Kentucky Derby odds, be sure to visit SBR.

FanDuel

$500 No Sweat First Bet

Only new customers are eligible for this offer. A minimum deposit of $10 is required. If you lose after placing your first bet of up to $500 within 72 hours, you will receive the full amount back in racing credit.

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FanDuel is the top horse racing betting site in the U.S., while the original TVG site, now under a new name, is still a top platform for horse racing betting. TVG continues to offer live coverage of major events like the Kentucky Derby, making it a reliable choice for those looking for a live stream option.

• Live streaming
• Available on digital, cable and other TV networks
• Quickly updated race results

Kentucky Derby betting quick facts

The 2024 Kentucky Derby ended in an exciting fashion, as Mystik Dan (20-1) narrowly crossed the finish line first in a photo finish, edging out Sierra Leone (5-2) and Forever Young (20-1) by mere inches.

Here is the information for the upcoming 2025 Kentucky Derby. In the meantime, explore our top horse racing betting sites to prepare for the Triple Crown races and numerous other races worldwide. Get ready for an exciting betting experience!

What you need to know for the 2025 Kentucky Derby

Best Kentucky Derby betting promos & bonuses

FanDuel Racing Bonuses

New customers at FanDuel Racing can enjoy a fantastic welcome bonus without the need for a promo code. Here are the details of this exciting offer.

Up to $500 No Sweat First Bet

New users in legal horse racing states who sign up for FanDuel racebook can have their first horse race bet insured for up to $500. Simply create a new account at FanDuel Racing, deposit real money into your account, and place your first bet. If it doesn’t win, you will receive a refund in the form of bonus bets, up to $500. These bonus bets cannot be redeemed for cash, can only be used for more wagers, and will expire after seven days.

FanDuel also offers a special promotion for new customers, where you can bet $5 and win $200 in bonus bets. Check out our comprehensive FanDuel review for more details on their sportsbook.

SBR’s Derby Day Challenge

Each year, we host the Derby Day Challenge contest where readers have the opportunity to win a portion of $1,000 in prizes. There is no entry fee required, simply make your Kentucky Derby picks in our Derby Day Challenge. If your predictions are correct, you can enjoy your winnings!

Keep an eye on this space for the 2025 Derby Day competition, which will be launched in late April next year.

FanDuel Racing $20 No Sweat Bet on The Preakness

Although the Kentucky Derby is considered the most prominent horse race of the year, the other legs of the Triple Crown also garner significant interest. Scheduled for May 18, 2024, the Preakness Stakes will feature Derby winner Mystik Dan as a confirmed contender.

FanDuel Racing users have the opportunity to claim a $20 No Sweat Bet on the Preakness by simply choosing a winning horse. If your pick is incorrect, FanDuel will refund your wager in bonus bets, up to $20.

Kentucky Derby Field and Odds

The betting lines for the 2024 Kentucky Derby were in a state of flux as sportsbooks took into account the latest developments at Churchill Downs and made adjustments to minimize their risks. Ultimately, the 20-1 long shot Mystik Dan emerged victorious in the race.

Check out our Kentucky Derby Odds and Betting Favorites page for a comprehensive analysis of which horses are the top contenders, as well as the underdogs, including past champions. Alternatively, explore our Kentucky Derby post position section to assess which horses may benefit from their starting position on race day.

As soon as the 2025 Kentucky Derby odds become available, we will share them. In the meantime, here’s a glimpse at the 2024 Kentucky Derby odds prior to the event:

2024 Kentucky Derby pre-race odds

Updated odds as of April 28; consult our betting calculators for assistance with converting horse racing odds.

Kentucky Derby betting calculator

If you are familiar with online sports betting, the presentation of horse racing odds in fractional format may initially be confusing. Unlike American odds (+250) or decimal odds (1.75), most racebooks use fractional odds to display the likelihood of a horse winning a race. For instance, a horse may be listed as a 2-1 favorite or a 50-1 longshot.

If you’re having trouble with fractional odds, visit our odds converter for assistance and save yourself from doing the math. Our betting calculator can also be helpful in making your picks.

Fractional odds can be easily understood by remembering that for every dollar bet, the numerator represents the amount you stand to win and the denominator represents the amount you wager. For example, betting $20 on a horse with odds of 7-2 would result in a return of $90 ($70 profit + $20 stake) if the bet is successful. These odds can also be expressed as 3.5-1 or converted to American-style odds as +350.

Betting on the Kentucky Derby in Canada

Each year, the Kentucky Derby attracts more bets from Canadians than any other horse race.

People living in Canada (excluding Ontario) have access to the following sports betting sites in Canada:

Please note that betting on the Kentucky Derby is not allowed in Ontario.

Residents of British Columbia, Manitoba, and Saskatchewan can only place sports bets through PlayNow, whether online or in-person. However, people living in Nunavut, Yukon, and the Northwest Territories do not have access to any form of sports betting, as these regions are governed by the Western Canada Lottery Corporation (WCLC).

People in the Alberta sports betting market can only use Play Alberta for now, but the province is on the verge of legalizing a wide range of top sportsbooks.

Single-game betting has been legalized in all of the Atlantic provinces, such as New Brunswick, Newfoundland and Labrador, Prince Edward Island, and Nova Scotia. The only approved platform for this type of betting is PROLINEStadium.com, which is authorized by the Atlantic Lottery Corporation.

How we rate & review Kentucky Derby betting sites

When evaluating Kentucky Derby betting sites, SBR considers various factors such as promotions offered by sportsbooks, ensuring the best value for bettors. In addition, important aspects like security, payout speeds, and customer service are also taken into account. Key benchmarks for assessment include:

Exclusive Kentucky Derby Promotional Offers

When selecting the top Kentucky Derby sportsbook, you’ll find a plethora of enticing offers available. From deposit matches to bet credits, there are always incentives to participate. It’s crucial to note that you can activate multiple promotions simultaneously. There is no restriction on the number of sportsbooks a player can join, allowing for strategic utilization of various offers. Whether you choose to activate one or several promotions, there will be a promotion that suits your preferences.

Variety of Kentucky Derby Bet Types

Horse racing betting stands out from other sports betting because of its unique nature. While the most common bet type is still the ‘outright winner’, the other options revolve around predicting the finishing order of the horses. Various sportsbooks may offer different bet types, and those with the widest variety are likely to attract the most bettors.

Kentucky Derby Live Streaming & Boosted Odds

Certain sportsbooks may provide additional benefits such as live streaming and enhanced odds. Live streaming of the Kentucky Derby is especially popular due to the difficulty in finding reliable streams for this major event without cable. Furthermore, some sportsbooks offer boosted odds to appeal to “line shoppers,” or experienced bettors who actively search multiple sportsbooks for the best betting opportunities.

Payout Speed & Customer Service

It can be disappointing to celebrate a big win, only to have to wait days to receive your profits. It’s even more frustrating when you have a time-sensitive question about betting on the Kentucky Derby and can’t reach anyone for help. At SBR, we understand that being frustrated is the last thing you want while sports betting. That’s why we prioritize convenience and transaction security to ensure a smooth and enjoyable experience for our customers.

Recent Kentucky Derby winners and betting stats

The outcome of the 2024 Kentucky Derby was astonishing, with Mystick Dan pulling off a surprising victory as a 20-1 underdog. Adding to the excitement was a rare three-horse photo finish, a spectacle not witnessed at the Derby in nearly five decades.

Please find below a full summary of the results of the 2024 Kentucky Derby, including the placement of each horse and any other important details.

How to bet on the Kentucky Derby online

When deciding on how to place bets on horse racing, it is important to consider a few key steps. Here is a guide to help you get started:

• Pick a trusted Kentucky Derby betting site based on SBR’s best sportsbook reviews and sportsbook promos.
• Find the sign-up bonus that appeals to you the most. Complete the registration process, entering a promo code, if necessary, to create an account.
• Find the horse racing book and select ‘Kentucky Derby.’
• Choose a wager type.
• Decide on a reasonable amount to stake and build your bet slip.
• Confirm your wager(s).
• Enjoy the race.
• Withdraw your winnings or claim bet credits (if applicable).

Types of Kentucky Derby bets available online

Kentucky Derby betting stands out from other major sporting events like the Super Bowl due to its unique focus on the finishing order of the horses. Instead of traditional bet types like ‘spread’ and ‘over/under’, Kentucky Derby betting offers a variety of options. Here are some of the most popular bet types for the Kentucky Derby:

Outright Win

This type of bet is straightforward. Choose a single horse to win the race and cross your fingers. The higher the odds, the larger the potential payout.

Each-way Bet

An each-way bet offers added security compared to simply choosing the winner of a race. With this type of bet, you are selecting a horse to either win the race or finish within a designated number of place positions. Essentially, you are making two bets at once. For instance, a $10 each-way bet actually requires a $20 total investment, as it consists of two separate $10 bets. This type of bet allows for winnings if the horse either wins the race outright or places within a specified range determined by the sportsbook. For example, a sportsbook might offer an each-way bet where the horse must finish in the top-three in order for the bet to pay out.

Exacta Bet

An exacta bet is a precise wager on the finishing order of horses in a race. You can make a straight exacta bet by predicting one horse to finish first and another to finish second. Alternatively, an exacta box bet allows you to bet on two horses to finish in the top two positions, in any order.

Trifecta Bet

There are two options for placing a trifecta bet. The first option is a straight trifecta bet, where you bet on the exact order of finish for the top three horses. The second option is a trifecta box bet, where you wager on the top three horses without needing to predict their exact finishing order.

Superfecta Bet

A superfecta bet is not commonly available for every horse race, but due to the popularity of the Kentucky Derby, sportsbooks make it an option. This bet, true to its name, involves picking the top four horses in either a straight or boxed format.

Kentucky Derby betting tips and strategies

Focusing on the most common information is key to gaining an advantage when it comes to betting tips for the Kentucky Derby. Some effective strategies to consider are:

Racing Conditions

Similar to field sports, horse racing can be significantly impacted by weather conditions. For instance, Churchill Downs, the location of the Kentucky Derby, has a dirt track that is particularly affected by rain and other water-related weather conditions. It is important to stay updated on the weather forecast for race day and to keep track of the conditions of the track in the days leading up to the event.

History at the Track

Analyzing the performance of specific jockeys and horses on various race tracks can provide valuable insights when making betting decisions. It is important to consider how well a horse and jockey have performed together at previous races at Churchill Downs. Have they shown improvement under a different trainer in the past? By reviewing historical data from the track, you can identify patterns and trends that may help inform your betting choices.

Line Shopping

Different sportsbooks use slightly different algorithms to set their betting lines, resulting in some variation between them. By creating accounts with multiple sportsbooks, you can take advantage of multiple welcome offers and make sure you are always getting the most favorable odds available.

Taking the Underdog

There is a special appeal to a comeback story, and Rich Strike’s unexpected win last year may inspire more individuals to bet on an underdog. Despite the high odds, even a small bet has the potential to yield significant returns.

Where to watch the Kentucky Derby

The 2025 Kentucky Derby is scheduled to be broadcasted on NBC, as well as streamed live on NBCSports.com and the NBC Sports app. The race is expected to begin at approximately 6:24 p.m. ET on the day of the event.

It is recommended to tune in early to avoid missing any of the action. If you cannot access NBC, consider using a sportsbook such as TVG for live streaming. Another option is to stream the event on select smartTV devices, such as Roku.

Underscoregs by category

No matter which sport or league you prefer, there is a fantastic sportsbook bonus waiting for you at numerous legal and licensed sportsbooks in your state. Check out this list of top sportsbooks categorized to help you make your decision even simpler.