Churchill Downs raises purse for Kentucky Derby 150 to a record $5 million
LOUISVILLE, Ky. (WDRB) -- The purse for horse racing's most famous race got a $2 million boost. The prize money for the 150th Kentucky Derby on May 4 will be a record $5 million guaranteed, as part of a record-breaking cash infusion into Churchill Downs' spring meet.
The 50 stakes races run under the Twin Spires as part of its 43-day spring meet will be worth $25.6 million, an increase of just over $5 million from a year ago.
Gaming from Kentucky's historical horse racing venues is helping to power the increases.
The Derby has been run for a $3 million purse since 2019. The purse was boosted to $2 million in 2005, after being run for $1 million from 1996 to 2004.
The very first Derby, run in 1875, was run for a purse of $1,000 (the equivalent of almost $29,000 in 2004 dollars).
The winner's share from the Derby will jump from $1.86 million to $3.1 million, as a result of the increase. The runner-up will receive $1 million, with $500,000 to the third-place finisher, $250,000 to fourth and $150,000 to fifth. The Kentucky Oaks will get a quarter-million dollar purse boost, to $1.5 million.
During Kentucky Derby week, a record 22 stakes races will be held, worth a cumulative $17.5 million. On Kentucky Derby day alone, nine stakes with $10.8 million will be run, with seven stakes worth $5.3 million run on Kentucky Oaks Day.
"These record purse increases are a symbol of the health of horse racing in Kentucky," Bill Carstanjen, Churchill Downs Incorporated CEO, said. "Churchill Downs Incorporated's over $1 billion investment into live and historical horse racing in Kentucky over the last five years has meaningfully strengthened the entire Kentucky Derby Week and year-round racing program. It's important to acknowledge the state legislature for its commitment to working closely with private enterprise in a truly collaborative partnership to support the continued growth of Kentucky's signature industry."
Before the debut of historical horse racing at CDI's Derby City Gaming in September 2018, that year's Spring Meet featured 32 stakes races worth $8.8 million. There are now 18 additional Spring Meet stakes, and prize money for horsemen in those events has grown 190% or by $16.8 million, according to a release from the track.
"It is truly gratifying to view the steady growth of the Churchill Downs racing product and the entire Kentucky horse racing and breeding industry, which bettors around the world have embraced," said Churchill Downs Racetrack President Mike Anderson. "Through the purses generated by the racing association and the Kentucky Thoroughbred Development Fund, Kentucky horsemen and horsewomen are reaping the benefits of Churchill Downs Incorporated's historic investment as we celebrate this year's milestone 150th Kentucky Derby."
