Kentucky Derby 2023: Odds, Tips, & Online Betting

Dubbed the “most exciting two minutes in sports,” the $3 million purse Kentucky Derby will once again draw renowned horses, jockeys, and trainers this May 6, 2023, at Churchill Downs. It’s one of the most anticipated races since its winner can straight away be thrust into the spotlight as one of the Triple Crown hopefuls. 

Far, only thirteen horses have been hailed the Triple Crown victors, with Justify as the last winner in 2018. Witnessing the Derby is many fans and horse racing bettors’ way to forecast whether this year is yet another long dry spell for the feat. 

Kentucky Derby Odds and Tips

It’s too early for the latest Derby odds as of this moment, there are many ways to get ready for the first leg of the Triple Crown race series. 

For amateur bettors, start with learning everything about betting. Whether you’re waiting for the live odds on race day or making future bets, there are several options you can choose when betting on the Derby. 

The most common betting options on the Derby are:

• Exotics (for example, exactas, trifectas, and multi-race wagers) 
• Win
• Place
• Show

Specifically, exotic bets, which cover more than one horse and/or more than one race at once, are very popular for a reason. Compared to other traditional straight bets, they’re more thrilling and fun. They allow bettors to do Flexi-betting, where they can manage betting risks more effectively. The best is they are likely going to offer higher payouts. 

• After making a Win bet, consider a Place or Show bet to set a “saver.”
• For Win, bet on horses at +300 or lower.
• For Win and Place, bet on horses at up to +600. 
• For Win and Show, bet on horses at +700 and above.
• For higher chances of winning, give multiple combinations on the same horses by box exactas, trifectas and superfectas. 

For Multirace Exotics, here’s another tip. For Pick3, Pick4, and Pick5, key on a specific horse as a single Win bet. Do so in one of the races. Then, bet on another two or three other horses in other races. For example, if you key on a horse and select the other three in a two-dollar Pick3 bet, it’ll likely cost you $18. This is how you get: 9 (1 key X 3 horses X 3 races) X $2 = $18.

What Should I Consider Before Betting? 

Research on the horses’ pedigree. A horse’s lineage may reveal its potential personality traits and training issues. In fact, many victors in the Triple Crown are genetically related. Hence, genetics can give you a clue in predicting the next top racehorse.

Make it a habit to read the race forms as well. They show horses’ past performances and ranks, so they can help predict horses’ potential and choose the likely best performers in one race.

Don’t only focus on the racehorses but also the jockeys. Even the best horses may not always do what they must to win a race, so they need jockeys to help them do their best. Many experts also claimed that 10% of a horse’s performance on any given day is due to its jockey. Many avid horse racing fans also believe that jockeys who have won at least 12% of their races are good bets. 

Lastly, be profitably late. The odds can change even in the last two minutes of a race. That’s why betting late can sometimes pay off. It also gives bettors the most information possible and lets them see all the horses themselves. However, remember that it doesn’t always work. 

Can’t Go to Churchill Downs, Kentucky? Bet Online! 

Although the Kentucky Derby annually takes place in Louisville, Kentucky, USA, its avid fans and bettors are from all around the world. Fortunately, several well-respected bookmakers provide live streaming services and live betting for local and international races online. 

To avail of these services, look for an online sportsbook and open an online sports betting account. Typically, detailed instructions on how to register are provided on their websites, which doesn’t take a couple of minutes. They’ll also require you to provide basic personal information, such as your name and email address. 

After signing up, deposit money into your account to bet on any race successfully. Credit cards can make everything much easier, but there are other ways to fund your account. If you have trouble with a transaction, the sportsbook’s website will have a team ready to help.

Final Thoughts

The Kentucky Derby is among the most important thoroughbred races in the world. It has been running since 1875 despite two World Wars and the Great Depression, making it a valuable jewel in the racing world. This 2023 it’s going to be its 149th renewal. We’re more or less 100 days away from it, so are you ready to raise your mint julep once again?