Economic concerns didn’t hold back Kentucky Derby wagering.
Key Takeaways
- The 151st Kentucky Derby generated nearly $24 million more than the 2024 race.
- Sovereignty outlasted favorite Journalism to win the race with odds of 7-to-1.
- Betting partner TwinSpires also set handle records for the week.
Executives at Churchill Downs Inc. (CDI), which owns and operates the Louisville horse track, expected betting to be comparable to the previous year, but weren’t committed to predicting new highs.
However, the famous event surpassed 2024’s figures and set multiple handle records throughout the week.
Churchill Downs announced that the 151st Kentucky Derby, won by Sovereignty on Saturday, generated $234.4 million in all-sources wagering, a new all-time high ahead of 2024’s $210.7 million. The 2025 handle was also up 24.2% from 2023.
The Kentucky Derby program produced a record $349 million in wagers, a 9% increase from the previous year, while the all-sources handle for the entire Derby Week reached $473.9 million, up from 2024’s $446.6 million.
Big win
Kentucky Derby betting partner TwinSpires accepted a record $108 million, a 17.2% year-over-year increase, on Churchill Downs races during the Derby Day program. The main event generated $73 million, surpassing the 2024 record of $60.9 million.
On the wet, sloppy 1¼-mile track, Sovereignty held off 3-to-1 favorite Journalism by 1½ lengths on Saturday. The winning horse paid $17.96 with 7-to-1 odds and took home $3.1 million for Goldphin racing stable.
Financial windfall
There is one area that might not keep pace with the betting surge. Churchill Downs said it expects Adjusted EBITDA for Derby Week to be one of the best-ever for the company, but likely $2 to $4 million short of the 2024 outcome.
“We congratulate the connections of Sovereignty on an impressive win over a very talented field of horses,” CDI CEO Bill Carstanjen said. “We are thrilled with our performance following the 150th milestone year in 2024 and we will grow the Kentucky Derby in the years to come.”
This was the second year that Kentucky had legal online sports betting during the Kentucky Derby, which can help operators bring more customers into horse racing. The Bluegrass State is coming off a college basketball-heavy March in which Kentucky online sports betting and retail sportsbooks generated $293.2 million in wagers.
