The biggest horse race of the year — at least in North America — is nearly here, and sportsbook operators have good reasons to expect brisk betting business for the 151st Kentucky Derby.
Key takeaways
- A Netflix show, storylines such as the return of legendary trainer Bob Baffert, and, hopefully, good weather, could all contribute to wagering on this year’s Kentucky Derby.
- So, too, will the promotions major online sportsbook operators are running.
- DraftKings and FanDuel continue to use their online sports betting business heft to drive traffic to horse racing, an effort that won’t stop when the Derby ends.
Saturday’s Derby Day card is expected to attract many millions in wagering, in addition to the money that’s already poured in throughout the week on other big races at Churchill Downs, such as Friday’s Kentucky Oaks.
In 2024, bettors wagered $210.7 million on the 150th Derby, a new record. Derby Week handle was another record, $446.6 million.
That was, however, for the 150th Derby, a major milestone.
Wagering on the 151st edition of the race will still get a boost from the event's historic nature, but will also get a lift from racebook operators' efforts. Moreover, it may benefit from some intriguing storylines as well, in addition to the audience a recently released Netflix show reached.
Andrew Moore, FanDuel's general manager of racing, said they expect handle on this year’s Derby to be in “the ballpark” of last year’s race.
“Last year just had that sort of big landmark around it, but I think from our perspective, we like to think we get a little bit better all the time at helping bring people in and helping them have a bet and having a fun experience,” Moore said in a recent interview with Covers. “So my hope is that we can at least match last year's performance. And my hope, really, is that we can beat it.”
Whether Kentucky Derby #151 can best #150 in terms of handle remains to be seen. There are, however, tools operators are using to help the effort and attract interest in their Kentucky Derby odds.
Betting made easier
FanDuel TV, for example, has already broadcast from the grounds at Churchill Downs throughout Derby Week. FanDuel’s betting business, meanwhile, maintains an edge on the competition in more than a dozen states by letting users bet on horse racing directly through its sportsbook app.
The single account and single wallet technology take away “friction” for bettors, allowing them to wager on horses or hockey without having to use multiple apps.
FanDuel reported last year its number of active customers betting on horse racing using the sportsbook app was up more than 20% year-over-year for the 2024 Triple Crown season. There were more than 550,000 customers overall wagering on the races using the sportsbook app as well, the operator said.
“We get a bit better at it every year, and we’re hoping that we get more sportsbook players introduced to racing for the first time and more sportsbook players coming back than last year than we had before, too,” Moore said.
The 151st Kentucky Derby looms... 🌹 pic.twitter.com/haTyQuw5r7
— FanDuel Racing (@FanDuel_Racing) May 2, 2025
Caesars began rolling out similar technology. DraftKings is working toward a similar advantage, as well.
DK users can already use the same login credentials for their sportsbook and DK Horse accounts, but the book hopes to use shared-wallet capability within the next year or so, according to Johnny Avello, DraftKings’ director of race and sportsbook operations.
DraftKings is also taking one of its popular sportsbook promotions and using it for the Derby.
For example, the Boston-based company’s “King of the Court” feature let bettors opt in and win a share of $1 million in bonus bets if a player they wagered on led the league that night in total points, rebounds, and assists.
Now, for the Derby, DraftKings has a “King of the Track” promotion that lets DK Horse customers opt-in, place a qualifying bet of $5 or more on a horse to win the race, and then potentially claim a chunk of the $1 million in bonus cash.
Stop the presses, start the fading
Many of those bettors have their eye on the morning-line favorite for the Derby, the 3-1 priced Journalism. Based in Southern California, Journalism racked up four wins in a row, including his most recent victory in the Santa Anita Derby.
Those wins also came in a fashion that could lend itself well to the Kentucky Derby, suggesting Journalism could have the right closing style and stamina for the mile-and-a-quarter race.
But, as Avello pointed out, a horse needs a lot of things to go well for them in the Run for the Roses. Journalism's last race was against four other horses; in the Derby, he'll face 18, including Baeza, who nearly stole the Santa Anita Derby.
Some horses, like Citizen Bull on the rail, could be dead-set on getting to the front as quickly as possible. Then, Journalism could have a pack in front of him kicking dirt and potentially mud back into his face.
“His race could be compromised from the very beginning,” Avello said in an interview with Covers.
In other words, Journalism is a pretty good horse and a solid contender for the Derby, but he’s no sure thing, because there’s likely no such thing in a race as big as the Kentucky Derby.
Furthermore, the longer odds down the board could prove more appetizing to bettors, especially since they're attached to some other pretty good horses. Avello mentioned other closing types like Sovereignty (5-1 on the morning line) and Burnham Square (12-1) as ones who put up impressive numbers.
Other horses of interest for bettors already include the two Japanese entries, Admire Daytona and Luxor Cafe. Of the two, Avello gave the advantage to Luxor Cafe, who beat Admire Daytona before and was actually bred in Kentucky, sired by Triple Crown winner American Pharoah.
“I think he’ll get played quite heavily,” Avello said of Luxor Cafe, who was 15-1 on the morning line.
It’s Derby weekend. Me and @elio82 are locked in. @dkhorse has great promo. Opt in and bet 5 on derby. If your horse crosses the line 1st you win share of 1 MILLION prize pool. pic.twitter.com/kMZai2DJNn
— Dave Portnoy (@stoolpresidente) May 2, 2025
While Avello was concerned the possibility of rain Saturday could put a damper on wagering, the multitude of angles for bettors to play in the Derby, as well as the interesting stories attached to the entries, could help pump up the handle.
There was also a documentary series Netflix released last week, "Race for the Crown", that may draw in new bettors. FanDuel’s Moore is hoping for a “halo effect” from the docuseries.
“There are some tough comps versus last year, but I think there are reasons to be positive as well,” Moore said.
Other interesting storylines for the race include the return of Citizen Bull’s trainer, Bob Baffert, to the Derby. Baffert was banned from the race for three years after winning in 2021 with Medina Spirit, who was then disqualified after testing positive for a restricted medication.
Baffert’s horses officially won the Derby six times, and a seventh trophy would give him the most among any trainer. Baffert's entry in the Derby, Citizen Bull, was priced at 20-1 on the morning line.
And so it begins...
The Triple Crown mentioned in the name of the Netflix series is also key to driving interest from more casual horseplayers. When the Kentucky Derby ends Saturday, speculation will start about whether the winner will run in the Preakness Stakes, the Triple Crown's second jewel, on May 17.
If the Derby winner is in the Preakness, it drives interest in the latter race for people who want to see if another Triple Crown winner is possible. And if a horse wins both the Kentucky Derby and Preakness, then there will no doubt be even more eyeballs on the Belmont Stakes, the Triple Crown's third leg.
Still, DraftKings and FanDuel are set on investing in their horse racing operations and the sport for the foreseeable future. That includes lending their name to and sponsoring big, non-Triple Crown races throughout the summer and beyond.
“It’s not just a one race kind of thing we’re after,” DraftKings’ Avello said. “We’re after engaging players throughout the year.”
