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Kentucky Derby Primed to Get More Sports Betting Attention in 2024

Kelly Irvin

Updated on April 29, 2024 at 2:48 PM EDT • Read time: 1 minute and 57 seconds. For more information, visit our Twitter and Google News links.

Every year, the Kentucky Derby is filled with luxury, with extravagant floral arrangements adorning headwear. With the recent legalization of Kentucky sports betting, it is anticipated that there will be a significant increase in wagers at top sportsbooks for this highly anticipated event.

The Kentucky Derby odds have been adjusted and the post positions have been revealed, causing anticipation to rise among eager bettors in Kentucky who are now ready to place their bets and start the race.

In September, legal online and retail betting, including at Kentucky sportsbook apps, was introduced. The Kentucky Derby is the main event, but there are plenty of other chances for horse-racing fans to win big over the upcoming weekend. With 14 events scheduled for Saturday following the Kentucky Oaks the day before, betting records are anticipated to be broken.

Expect a historic weekend

When a state legalizes sports betting, it often sparks the curiosity of casual bettors, particularly leading up to a major sporting event that is highly anticipated by local sports fans and deeply ingrained in Kentucky’s sporting culture.

This is one reason why the 2024 race is expected to generate record-breaking betting figures. With the increasing popularity of betting on the Kentucky Derby, even before it was legalized in the state, the growth of sports betting apps could lead to a significant surge in wagering.

The derby has experienced two consecutive years of record-breaking success, reaching unprecedented heights in 2023. Derby Day in the previous year saw a total of $288.7 million in bets placed at sportsbooks and betting sites, a significant increase from the previous record of $273.8 million set in 2022.

The Oaks Day races on Friday, which can be bet on at Kentucky sportsbook promos, drew in an impressive $363.6 million in bets throughout the weekend in 2023, as reported by the Louisville Courier-Journal. The main race alone brought in an astounding $188.7 million.

Now that sports betting in Kentucky is legal at the top horse racing betting sites, and with many casual fans showing interest due to the lower barrier for entry, it is easy to imagine the race reaching new heights in 2024.

Where to bet on the Kentucky Derby

Numerous Kentucky Derby betting sites are now entering the market following the state’s legalization of betting.

FanDuel is a top provider of sports betting in various states including Colorado, Illinois, Louisiana, Maryland, Indiana, Michigan, Ohio, New York, Pennsylvania, Virginia, West Virginia, and Wyoming. Users in these states can place bets on the FanDuel mobile app.

In other locations, DraftKings launched its horse race betting app in 19 states in 2023. Caesars also released a similar app that can be accessed in 21 states, and BetMGM’s version is currently available for sports betting in Ohio, Louisiana, and Florida.

TwinSpires has been a top leader in horse race betting for years, serving as the official partner of the Kentucky Derby and accepting bets before the recent wave of legalization in the U.S.

Written By:
Kelly Irvin
Kelly Irvin has been in the sports media wilderness since 2009, and he joined Underscoreg Review in 2021. His work has been referenced in The New York Times and Forbes. He’s also made appearances on The Fan 590 and TSN 1050. Sean is a regular bettor who places bets daily while using a handful of books. Most frequently, he uses FanDuel and bet365 due to the quality experience on those apps. While he’ll often take an analytical approach, Sean enjoys the fun, recreational side of betting too, and embraces alternative markets on events like the Westminster Dog Show or Eurovision, or the many novelty props tied annually to the Super Bowl, for example. Beyond sports, Sean is also interested in the betting markets tied to politics, and especially those connected to American elections. He sees betting as a way to explore and engage in a deeper way, and takes that same view to his work. He plays poker periodically too, and is an avid fantasy sports player. Sean also previously spent time with Bleacher Report and theScore, all after earning his media studies degree from the University of Guelph-Humber.