Having stake in the race: How to bet on the Kentucky Derby

LOUISVILLE, Ky. (FOX 56) — Whether this is your first time or you are continuing a longtime tradition, the Kentucky Derby excitement stems from having a stake in the race.

If you’re looking to put money down but have no idea where to start, you’re in the right place.

Welcome to Wagering 101, according to Churchill Downs.

There are 10 types of bets to wager either online or at the teller window:

• Win: You win if your horse comes in first.
• Place: You win if your horse comes in first or second.
• Show: You win if your horse comes in first, second, or third.
• Exacta: You win if you select the two horses to finish in first and second in the exact order.
• Daily double: You win if you pick the winning horse in two races.
• Trifecta: You win if you pick the three horses to come in first, second, and third in the exact order.
• Superfecta: You win if you pick the four horses to come in first, second, third, and fourth in the exact order.
• Pick three: You win if you pick the winning horses in three races.
• Pick six: You win if you pick the winning horses in six races.
• Box: A box bet allows you to pick multiple horses you believe will finish in the top positions, in any order.

The most common and simplest bet placed is a “win,” according to the racetrack. All you have to do is pick a horse, and if it comes out on top, you collect winnings determined by the horse’s odds.

According to Churchill Downs, 14 races are scheduled to run on Derby Day. The Kentucky Derby is race 12, and the post time is at 6:57 p.m. on Saturday.

Where to place your Kentucky Derby bet

There are multiple ways to place your bet on or before raceday.

If you’re at the racetrack, bets can be placed at the teller window or kiosks.

“Wagering windows is the most common way to place your bet, but also the most crowded. All throughout race day, crowds will pack the wagering windows in an attempt to get their bets in before the gates open for certain races,” Churchill Downs wrote.

Beginning Thursday, May 1, bets can be placed in person at Red Mile.

Keeneland will also provide drive-thru wagering on Kentucky Oaks and Derby Day beginning at 8 a.m. through post time.

Bets can also be placed online through Churchill Downs’ official platform, TwinSpires.

Kentucky Derby horses and odds

For a horse to run in the Kentucky Derby, it must qualify by competing in the Road to the Kentucky Derby races. According to Derby officials, points are awarded to the top five finishers in each race, and the 20 horses with the most points earn their spot in the starting gate to “Run for the Roses.”

Burhnam Square’s last-to-first win in the Blue Grass (G1) at Keeneland secured a top spot on the leaderboard with 130 points.

Here’s a look at the odds and post positions as announced on April 26. Odds are subject to change.

Short odds refer to the odds that are closer to “even money,” according to Twin Spires, such as 4-5. Long odds refer to odds that move further away from even money, such as 30-1.

“The shorter the horse’s odds, the better the horse can be perceived to be compared among racing peers. The longer the horse’s odds, the less talent a horse could have among the Derby starters,” Twin Spires wrote.

The longer a horse’s odds are, the more money you’re to win.

For a look at live odds, click here.