Betting odds for the 2023 Kentucky Derby are heating up, with the race happening tonight at Churchill Downs, featuring the best three-year-olds in horse racing.
Kentucky Derby odds
Win, place, and show odds for 2023
|14||Angel of Empire||9/2||7/2||5/4||5/6|
Odds as of May 6, 2023.
Kentucky Derby odds over time
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Odds of past Kentucky Derby winners
Although the Kentucky Derby favorite dominated at Churchill Downs from 2013 to 2018, Country House won the Run for the Roses in 2019 as the second-biggest underdog in Derby history at 65/1, and Authentic pulled off his own upset in 2020 by edging out heavy favorite Tiz the Law. In 2021, Medina Spirit bested Hot Rod Charlie to win. The biggest upset of all came in 2022 when Rich Strike cashed out on 80/1 odds to win the Kentucky Derby. Here are the winners of the Kentucky Derby since 2000, their post positions, and their final odds.
|Year||Kentucky Derby Winner||Post Position||Final Odds|
|2012||I'll Have Another||19||15/1|
|2009||Mine That Bird||8||50/1|
More horse racing betting
Where can I bet on the Kentucky Derby?
Several legal horse racing betting sites allow you to wager on the Kentucky Derby, but not every sportsbook is allowed to offer Derby odds. We have created a guide outlining the best Kentucky Derby betting sites available in your area.
Which states have legal betting on the Kentucky Derby?
While sports bettors can enjoy some form of online or retail wagering in 34 states (+ DC), horse racing enthusiasts have even more legal options. Refer to our list of legal states for betting on horse racing to see if horse race betting is legal in your state via the FanDuel Racing app.
Canada (excluding Ontario)
Almost all sports betting sites offer fixed-odds betting on horse racing. Check out the best sports betting sites in Canada or sign up now with one of our top partners, bet365, and earn up to $200 in bet credits!
Following the changes to the iGaming regulations on April 4, 2022, horse racing betting is no longer available at sportsbooks. Those in Ontario who are looking to bet on the Kentucky Derby will need to sign up at one of Woodbine's two online offerings, HPIbet and Dark Horse Bets.
How are Kentucky Derby rankings determined?
Kentucky Derby rankings are determined by a points system that assigns a point value to each of the designated prep races leading up to the Kentucky Derby during the first Saturday of May. The system is designed to reward the top performers in the most important races, while also taking into account the overall consistency and success of each horse throughout the season.
The points system is as follows:
- The winner of each of the designated prep races is awarded 100 points.
- The second-place finisher is awarded 40 points.
- The third-place finisher is awarded 20 points.
- The fourth-place finisher is awarded 10 points.
- There are a few "wild card" races that award 50 points to the winner, 20 points to the second-place finisher, 10 points to the third-place finisher, and 5 points to the fourth-place finisher.
The horses with the most points at the end of qualifying are guaranteed a spot in the Kentucky Derby starting gate, with the remaining spots filled by horses with the next highest point totals. In the event of a tie in points, the horse with the highest earnings in graded stakes races will be given preference.
The Kentucky Derby rankings are updated weekly leading up to the race as new prep races are run and points are awarded, so the rankings can change quite a bit over the course of the qualifying season.
How are Kentucky Derby odds made?
Kentucky Derby odds are based on a horse's past performance, jockey and trainer success, and public perception. The odds are determined by a team of oddsmakers who work for the track or an off-track betting facility, and their goal is to set odds in a way that will balance the amount of money bet on each horse, so that the track or betting facility will make a profit regardless of which horse wins.
Here's how the odds-making process typically works:
1. The oddsmakers start by analyzing each horse's past performance, looking at factors such as speed figures, finishing times, and previous wins and losses.
2. They consider the jockey and trainer, looking at their track records and success rates in past races.
3. The oddsmakers take into account any recent news or changes that may affect a horse's performance, such as injuries, equipment changes, or changes in the track conditions.
4. The oddsmakers look at the public's perception of each horse, considering factors such as media coverage, social media buzz, and the horse's popularity with fans.
Based on all of these factors, the oddsmakers assign each horse a morning line odds, which is the initial set of odds that are released to the public before the race.
Once the betting starts, the odds will fluctuate based on how much money is bet on each horse. If a lot of money is bet on a particular horse, the odds will go down, while if considerably less money is bet on a horse, the odds will go up.
Kentucky Derby odds are designed to reflect the public's perception of each horse's chances of winning, while also ensuring that the track or betting facility makes a profit regardless of the outcome.
What are the different types of horse racing bets for the Kentucky Derby?
Here are some of the most common types of horse racing bets available at Churchill Downs and beyond:
Win: This is a simple bet on which horse will win the race. If your horse finishes first, you win the bet.
Place: This is a bet on which horse will finish in second place or better. If your horse finishes first or second, you win the bet.
Show: This is a bet on which horse will finish in third place or better. If your horse finishes first, second, or third, you win the bet.
Exacta: This is a bet on which horses will finish first and second in the correct order. If you correctly predict the first and second place finishers, you win the bet.
Quinella: This is a bet on which horses will finish first and second, regardless of the order. If you correctly predict the first and second place finishers, you win the bet.
Trifecta: This is a bet on which horses will finish first, second, and third in the correct order. If you correctly predict the first, second, and third place finishers in the correct order, you win the bet.
Superfecta: This is a bet on which horses will finish first, second, third, and fourth in the correct order. If you correctly predict the first, second, third, and fourth place finishers in the correct order, you win the bet.
Daily Double: This is a bet on which horses will win two consecutive races. You must correctly predict the winner of both races to win the bet.
Pick 3, Pick 4, Pick 5, or Pick 6: These are bets on which horses will win three, four, five, or six consecutive races, respectively. You must correctly predict the winner of each race to win the bet.
Future Bet: This is a bet on a future event, such as the winner of the Kentucky Derby or Breeders' Cup Classic. The odds for this type of bet are usually set well in advance of the race, and can change as the race approaches.
It's important to understand the rules and potential payouts for each type of bet before placing your wager.
Kentucky Derby odds FAQs
Rich Strike closed at odds of 80/1 before winning the 2022 Kentucky Derby in shocking fashion on May 7.
Most odds you will see for the Kentucky Derby are the odds to win the race. The odds above are listed in Fractional format.
Forte the favorite to win the 2023 Kentucky Derby with odds of +400, as of early March.