Legal Kentucky Derby Wager Types
Whereas other sports may have bet types exclusive to the event, legal Kentucky Derby wager types are always consistent. There are several types of horse bets to learn, but once you understand them you will be able to wager on the Run for the Roses- or any other race. Horse enthusiasts should also know that no matter where your bet is placed, the types of bets offered will likely be the same. The bet minimums may differ slightly (i.e $1 versus $2) but the ways to wager on the Kentucky Derby will be the same at Churchill Downs, an off-track betting facility, or at an online sportsbook.
Learning how to bet on the Kentucky Derby starts by knowing all of the various horse bet types. Millions of people bet on the Kentucky Derby each year, some of which are experienced and others that only bet on the first jewel of the Triple Crown. Either way, these are the horse bet types for legal Kentucky Derby betting.
The first category that legal Kentucky Derby wager types fall into is ‘straight bets’. Straight bets are simple, involving one horse and one race. Here are the straight horse bets that you make on the Kentucky Derby:
Win – A Win bet is a wager on your horse to win the Kentucky Derby. It’s that simple. As long as your horse comes in first, you can collect the payoff.
Place – A Place wager is a bet on your horse to finish first or second in the Kentucky Derby. The payoff will be less than a Win bet because there is less risk, but the amount will be the same regardless of if your horse finishes first or second.
Show – Wagering on your horse to Show means that the horse can finish anywhere in the top 3 of the Run for the Roses. First, second, and third place are all winners when you make a Show bet.
Exotic horse bets can be placed on several horses in a single race or multiple races. Of the legal Kentucky Derby wager types, these bets are more complicated and therefore offer higher payouts. Unless making a combination bet, you will need to wager on the exact finishing order of the horse. Many horse enthusiasts find these types of wagers more exciting because they offer more variety than traditional horse bets. The various types of exotic horse bets are listed below:
Exacta – To win an Exacta, you must select the first and second place finishers in exact order. Correctly wagering on the winner and runner-up is considered the simplest of exotic wager types.
Trifecta – Trifecta bets add an additional finish to the exacta, therefore increasing your payoff. You have to pick the first, second, and third place horses in specific order.
Superfecta – A Superfecta Kentucky Derby wager means that you must pick the top four finishers of the race in the correct order. This is the hardest single-race exotic horse bet.
Box – You have the option to box exotic bets so that the wager includes several combinations, rather than having to select the exact finishing order. For example, a Kentucky Derby Trifecta Box with horses 3,4, and 5 would mean that those three horses could finish 4-5-3, 5-4-3, 4-3-5, etc. In this instance, there would be six possible combinations for a winning ticket but you can add as many horses as you want to a boxed bet.
Double – A Double is traditionally a multi-race wager where you bet on the winners of the first two races of the day. At Churchill Downs, there is also a Kentucky Oaks/Kentucky Derby Daily Double where you can bet on the winner of each race.
Pick 3/Pick 4/Pick 6 – These bets require selecting the winners of 3, 4, or 6 consecutive races on Derby Day. For example, you can bet on the horses that will win Race 1, Race 2, and Race 3 of the card. One of the most difficult horse bets to make, bettors are drawn to Pick 3’s, Pick 4’s, and Pick 6’s for their prolific payouts.
Simply put, line shopping is when you pick a particular line and compare it to lines posted at least one other online racebook. Consider Kentucky Derby line shopping the same as you would shopping for a new laptop. You want to get the best price on your new toy, and if Best Buy is cheaper than the Sony store you will go with the former. The best line translates into a much better payout and the greatest return on your investment. This is especially true when it comes to high rollers horse betting, where choosing the wrong line can cost you thousands.
The process for placing a legal Kentucky Derby wager is simple, whether at a track or online. If you are at a live venue, go to the pay window and give the following information:Name of the track (If you are not at the venue)
- Race Number
- Bet Amount
- Type of bet
- Number of the horse(s)
You will use the same information when using an online racebook, but you can enter it yourself. Visit the Churchill Downs page of the horse racing betting site and you will then see the horses, jockeys, and morning line odds posted for the Kentucky Derby field. You can select your horse and the type of bet that you would like to place, then add your picks to your bet slip. The same legal Kentucky Derby wager types discussed will be featured within the racebook. Enter the amount of your wager, then review and confirm.
The minimum horse bet requirements can differ depending on where you place your bets, but not by much. Also, the type of legal Kentucky Derby horse wager that you place will also factor into the minimum. We have provided the current bet minimums from Churchill Downs for each type of wager:
- Win, Place, Show Bets - $2
- Exacta - $2.00 straight, $1 boxes
- Superfecta & Daily Double - $1
- Trifecta, Pick-3, Pick-4 and Pick-5 wagers - $.50
- Pick-6 - $2.00