Kentucky Derby 2023: How to bet, where to bet, previous winners & more
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The Kentucky Derby marks the biggest annual horse racing event in the United States and began in 1875. Saturday’s event is the oldest continuously run sporting event in the United States, as it’s occurred every year since its inauguration and has never been canceled for war, depression or a pandemic.
Our experts break down everything you need to know about this year’s event below so that you know how to bet on the Kentucky Derby. If you already know how to bet and prefer to bet on the race now, to join BetMGM Sportsbook.
The Kentucky Derby takes place on the first Saturday in May every year. This year, it is on Saturday, May 6.
The Kentucky Derby begins at 6:57 PM ET on Saturday.
Yes, you can bet on the 2023 Kentucky Derby online. BetMGM Sportsbook has odds for Saturday’s race, and all new users can sign up for a new account to earn a $1,000 welcome bonus. If you want to use this bonus Saturday, read below to learn how to bet on the Kentucky Derby.
Join BetMGM today, and you can risk up to $1,000 after learning how to bet on the Kentucky Derby. If your wager loses, you’ll be refunded with bonus bets.
If you aren’t sure how to bet on the Kentucky Derby this year, follow these steps:
- Create a new BetMGM account before Saturday, May 6
- Deposit $10 or more
- Navigate to the “Racing” section of BetMGM
Wagering on horse racing is slightly different than sports betting because it is pari-mutuel. Instead of betting against the sportsbook, you will be wagering against everyone else that has placed bets on that race.
As a result, the odds for a selection can move after you’ve placed your bet. For example, if one horse carries +1000 odds to win the 2023 Kentucky Derby and the sportsbook receives additional bets on that specific horse, the price could shorten. So, you could submit your ticket with +1000 odds, but it could be +700 by the time the race begins.
The different bet types for horse racing are here:
- Win - If your horse finishes first, you win your bet
- Place - If your horse finishes first or second, you win your bet
- Show - If your horse finishes first, second or third, you win your bet
There’s no better place to bet on the Kentucky Derby than BetMGM Sportsbook. All new BetMGM members can sign up for a new account and deposit $10 to enroll in a $1,000 welcome bonus. Since you know how to bet on the Kentucky Derby, you can use this bonus for Saturday’s race.
Use this link to get started with BetMGM, and you’ll be ready to go with a $1,000 boost before Saturday’s race. If you risk anywhere from $10 to $1,000 as part of this promotion and your bet loses, you’ll be refunded with bonus bets courtesy of BetMGM.
As we said above, if you join BetMGM today, you can earn a $1,000 bonus for Saturday’s race. The best part about this promotion is that you don’t need a promo code to enroll if you use one of the links in this article to activate your new account.
It’s estimated that the Kentucky Derby draws a crowd of 155,000 people, but the amount of money bet on the race each year is much larger. A record $179 million was wagered on the 2022 Kentucky Derby, which was a 17% increase from 2021.
Clearly, this is one of the biggest races of the year, which is why you should get started with BetMGM after you know how to bet on the Kentucky Derby.
The Kentucky Derby usually lasts around two minutes, which is why it’s been dubbed “The Most Exciting Two Minutes in Sports”. The 2023 Kentucky Derby should be close to this time.
Forte (3/1 at BetMGM) is the favorite to win the 2023 Kentucky Derby, so he could join the list below, which includes the last 10 winners of the Kentucky Derby:
- 2022 - Rich Strike
- 2021 - Mandaloun
- 2020 - Authentic
- 2019 - Country House
- 2018 - Justify
- 2017 - Always Dreaming
- 2016 - Nyquist
- 2015 - American Pharoah
- 2014 - California Chrome
- 2013 - Orb
Now that you know the previous winners and how to bet on the Kentucky Derby, activate a new account at BetMGM to earn a $1,000 welcome bonus before Saturday’s race.
