Known also as “Run for the Roses,” the Kentucky Derby is the first leg of the Triple Crown Series. The 544 roses draped over the race winner explain how the moniker started.
On the first Saturday of May, the Kentucky Derby occurs at Churchill Downs, Louisville, Kentucky. In history, it’s the longest-running sports event in the US. This 2023 will be the Kentucky Derby 149th year!
As the event comes closer, let’s explore the betting options and some betting tips to follow.
Understanding Kentucky Derby Betting
Kentucky Derby isn’t just any other horse racing competition out there. It’s dubbed “The Most Exciting Two Minutes in Sports.” Speaking of thrill, this is probably why many bettors worldwide are drawn to this race. If you’re a newbie or need a refresher on Kentucky Derby betting, here’s a comprehensive guide.
Types of Bets
Here are the types of wagers for online betting kentucky derby 2023:
Win, Place, Show
Win means that the horse you’ve backed should place first in the order of finish. Place means that the horse you’ve picked should place first or second. Lastly, Show means that your horse must finish first, second, or third in the final order of finish.
Exacta
With this type of bet, bettors must pick two horses to finish first and second in exact order.
Quinella
This type of bet is pretty much the same as exacta, where bettors would pick two horses to come in first and second, but the horses could come in any order.
Trifecta
The rule is the same as exacta, only that you will have to pick three horses to place first, second, and third in the final order of finish in exact order.
Superfecta
This has the same mechanics with exact and trifecta, only you must select the first four horses to finish the race in exact order.
Futures
Futures betting refers to bets collected even before the season starts. Futures betting odds open early, and bookmakers can adjust them due to several factors like injuries, season results, and trades. Despite the changes, bets are already locked in, so bettors can’t take back their wagers.
Proposition Bets
Also known as “prop bets,” this type of bet doesn’t rely on the specific outcome of a race. Instead, it’s a creative type of bet ranging from which stable would earn the most wins to which jockey would have the most successful season.
Betting Strategies
Betting in the Kentucky Derby isn’t purely a game of chance. Bettors must possess the necessary skills and learn practical strategies to gain profits on their bets!
Look at the Jockeys
Most of the time, the best jockeys mount the best horses. However, if you rely too much on this speculation, you will end up losing your bet.
Check out factors like the jockey’s experience and the races they have conquered with the horse. Moreover, you can check if the jockey is back from a break, has a previous injury, or has been racing before the Kentucky Derby.
Study the Horse’s History and Experience
Of course, besides the jockey, you should also research the horse’s experience on the specific track condition, running style, personal record, and winning seasons, among many other factors. Additionally, check for news about the horse’s recent injury.
You can also look for the horse’s bloodline and see if the horse is a descendant of successful runners, which means they are more likely to possess their predecessor’s running abilities.
Observe During Post Parade
This tip is quite underrated because bettors tend to get overexcited during the post-parade. Observe the horses as they warm up in front of the grandstand. Check if the horse is showing nervous behavior or if the horse looks energized and alert during the parade.
Pay Attention to Track Conditions
Tracks were created differently. The Churchill Downs Track is identified as a dirt track, but unlike other tracks in the same category that gets damped the entire day after a rain, this track quickly dries after getting rained on. With this in mind, horses on the front are expected to perform better because they wouldn’t get thrown with mud from other horses.
Consider Race-Day Betting
Bookies release odds as early as the opening declarations for a race are made public. This way, bettors can place their bets early if they feel the horse they are backing has value. However, betting on race day can be more profitable because more information is available to you as you decide.
Plus, no one can predict if the horse you’ve backed early will withdraw from the race. If this happens, you’ll lose all your money simultaneously, especially if you’ve placed bets in multiple bookies.
Final Thoughts
Kentucky Derby 2023 is just around the corner. We know you already have your favorites in the race. But, rather than backing your favorite horse, profits are more secure with some betting strategies in mind.
On top of all, bet responsibly, and don’t forget to enjoy the thrill. After all, it isn’t called the “Most Exciting Two Minutes in Sports” for nothing!
