Best Kentucky Derby Betting Sites and Promos for May 2024

Best legal US Kentucky Derby betting sites & apps

Editor's Note: This page is intended for US users only including all bonus mentions.

Online betting for the Kentucky Derby is a bit different than placing bets on other events like the Super Bowl. There is only one Kentucky Derby betting site/app that dominate the race’s wagering scene in particular which is FanDuel Sportsbook. Also, check out SBR's Kentucky Derby odds analysis for more insights.

FanDuel 🔵

$500 No Sweat First Bet

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FanDuel Sportsbook is the only horse racing betting site in the US. The original TVG website is still available despite rebranding and remains a premier horse racing betting platform.  It also specializes in live coverage of horse racing, including live marquee events, meaning it could be a great option for those seeking a reliable stream.

• Live streaming
• Available on digital, cable and other TV networks
• Quickly updated race results

Kentucky Derby welcome bonus 🏇

Place a winning bet on a single horse in the Kentucky Derby to be eligible here. Only the first single-horse win bet on the Kentucky Derby is eligible. If the wager loses, get a refund as a racing bonus of up to $20. Limit of one promotion bonus per person. Allow up to 24 hours for the refund to be credited to your account. A refund will be issued as a non-withdrawable racing bonus that expires. This only applies to some states.

Some other sportsbook still offer betting on horse racing, but through specific extra apps, like DraftKings Horse Racing (aka DK Horse) and BetMGM Horse Racing.

Kentucky Derby betting quick facts

What you need to know for the 2024 Kentucky Derby

Best Kentucky Derby betting promos & bonuses

FanDuel Racing Bonuses 🔵

FanDuel Racing offers a pair of welcome bonuses, depending on which state you're in. You don't need a FanDuel promo code to collect any of these offers. Here are the details:

Up to $500 No Sweat First Bet

(Only available in AR, CA, DE, ID, FL, MN, MT, NH, NM, ND, OR, RI, SD, WA)

New FanDuel racebook users in the above states can see their first horse race wager insured for up to $500. Register a new account at FanDuel Racing, fund your account with a real money deposit, and make your first bet. If it loses, you'll get a refund via bonus bets, up to $500. The bonus bets have no cash value, can only be used to make additional wagers, and expire after seven days. 

Up to $20 No Sweat First Bet on the Kentucky Derby

(Only available in AZ, CO, IL, IN, KY, LA, MA, MD, MI, NY, OH, PA, VA, WV, WY)

Place a win bet on a single horse in the Kentucky Derby to be eligible here. Only the first single horse-to-win bet is eligible. If the wager loses, get a refund as a racing bonus bet, up to $20. Limit of one promotion bonus per person. Allow up to 24 hours for the refund to be credited to your account. The refund will be issued as a non-withdrawable bonus bet. 

FanDuel Sportsbook also has a bet $5, get $150 in bonus bets offer for new customers only. See our full FanDuel review for more sportsbook information. 

SBR's Derby Day Challenge

Take part in our special Derby Day Challenge contest for a chance to win a share of $1,000 in prizes. No entry fee is required. Just make your 2024 Kentucky Derby picks on our Derby Day Challenge. If you nail your predictions, enjoy the spoils of your winnings!

Kentucky Derby Field and Odds

The odds for the 2024 Kentucky Derby are constantly shifting as sportsbooks consider the latest news updates from Churchill Downs or try to adjust the lines to cover their own liabilities. 

You can visit our Kentucky Derby Odds and Betting Favorites page for a full analysis of which horses have the best (or worst) odds, including historical winners. Or visit our Kentucky Derby post position section to see which horses may have an advantage from the starting gate. 

In the meantime, here's a quick look at the current 2024 Kentucky Derby odds:

Kentucky Derby live odds

(Odds updated April 28; see our betting calculators for help translating horse racing odds)

Kentucky Derby betting calculator

If you're used to online sports betting, the way horse racing odds are displayed may confuse you at first. Instead of American odds (e.g., +250) or decimal odds (e.g., 1.75), most racebooks display fractional odds. For example, a horse will be shown was a 2-1 favorite or a 50-1 longshot.

If you need any help figuring out these fractional odds, head over to our odds converter to save yourself some math. You can also use our betting calculator to help formulate your picks. 

As a simple rule, fractional odds work like this: for every dollar in the denominator you wager, you get the number in the numerator in return. So if you bet $20 on a horse at 7-2 odds, it would return $90 ($70 profit + your $20 stake) if you win. You could also simplify those odds as 3.5-1 or convert them to American-style (+350).

How we rate & review Kentucky Derby betting sites

There are several ways in which SBR evaluates Kentucky Derby Betting Sites. Given the event's popularity, several sportsbooks will offer promotions, but knowing where you'll get the best bang for your buck is essential. On top of that, there is a multitude of other factors to consider, including security, payout speeds, and customer service. Some of the most essential benchmarks include:

Exclusive Kentucky Derby Promotional Offers

There are always offers aplenty when it comes to choosing the best Kentucky Derby sportsbook. Whether it’s deposit matching or bet credits, there’s always an incentive to play. It’s also important to remember that more than one promotion can be activated at once. There is no limit to how many sportsbooks a player can have an account with, and simultaneously taking advantage of different offers is a strategic move. Whether activating one or multiple, there will be a promotion that appeals to you.

Variety of Kentucky Derby Bet Types

Betting on horse racing is far different from betting on other sports due to how unique it is. Like other sports, the most popular bet type is ‘outright winner’. The other variations are essentially centered around the order in which the horses are expected to finish. Different sportsbooks may offer alternative bet types, and the greatest variety will naturally attract the largest pool of sports bettors.

Kentucky Derby Live Streaming & Boosted Odds

Some sportsbooks may offer other desired perks, are live streaming and boosted odds. Kentucky Derby live streaming is highly-sought after in particular as many people need cable, and finding reliable streams for such a high-profile event can prove challenging. Additionally, some sportsbooks will boost odds to attract 'line shoppers' This refers to experienced bettors who continually scour several sportsbooks to maximize betting value.

Payout Speed & Customer Service

There’s nothing worse than celebrating a big win only to wait several days to enjoy your profits. It’s also frustrating when you have a time-sensitive question about betting on the Kentucky Derby and can’t get a hold of anyone in time. SBR knows that ‘frustrated’ is the last thing you should be while sports betting, meaning we put a premium on criteria focusing on convenience. Transaction security is also an important measure.

Recent Kentucky Derby winners and betting stats

The 2023 Results of the Kentucky Derby were shocking, as horse Mage won the race despite being a 15-1 underdog. A late scratch of 3-1 favorite Forte really opened up the field. Two Phil's (12-1) came in second and Angel of Empire (8-1) rounded out the podium places. 

Look below for a complete summary of how each horse placed in the 2023 Kentucky Derby and all other relevant information.

How to bet on the Kentucky Derby online

There are a few different steps to consider when determining how to bet on horse racing. Here’s how to get started:

• Pick a trusted Kentucky Derby betting site based on SBR’s best sportsbook reviews and sportsbook promos.
• Find the sign-up bonus that appeals to you the most. Complete the registration process, entering a promo code, if necessary, to create an account.
• Find the horse racing book and select ‘Kentucky Derby.’
• Choose a wager type.
• Decide on a reasonable amount to stake and build your bet slip.
• Confirm your wager(s).
• Enjoy the race.
• Withdraw your winnings or claim bet credits (if applicable).

Types of Kentucky Derby bets available online

Kentucky Derby betting greatly differs from betting on other large sporting events such as the Super Bowl. Instead of using bet types like ‘spread’ and ‘over/under’, the various betting options center around the finishing order of the horses. Here are some of the most popular Kentucky Derby bet types:

Outright Win

This bet type is exactly as it sounds. Pick one horse to win the race, and hope for the best. The longer the odds, the bigger the payout.

Each-way Bet

An each-way bet provides more safety than picking the winner. In this instance, you’re selecting a horse to win the race and/or to place within a certain number of place positions. Since this is a dual-bet, you are essentially placing two wagers at once. For example, a $10 bet actually requires $20 since it’s two $10 bets. Winnings occur whether the horse wins outright, or simply places within a certain range set by the sportsbook. For example, a sportsbook may offer an each-way bet where the horse must at least finish in the top-three to cash. 

Exacta Bet

An exacta bet is a more specific way to bet on the order of finish. For example, a straight exacta bet on one horse in particular to finish in first and another specific horse to finish in second. Alternatively, you could place an exacta box bet on those two horses to finish in the top two, regardless of exact order.

Trifecta Bet

A trifecta bet also comes with two different options. A straight trifecta bet, like a straight exacta bet, allows you to bet on the exact order of finish of the top three horses. A trifecta box bet is wagering on the top three horses, regardless of exact finishing order.

Superfecta Bet

A superfecta bet is one that isn’t routinely offered with every horse race, but the Kentucky Derby is big enough for sportsbooks to make it available. True to its name, it’s a straight or box bet that involves the top four horses.

Kentucky Derby betting tips and strategies

Zeroing in on the most prevalent information is the best way to get an edge on betting tips for the Kentucky Derby. Some of the best strategies include:

Racing Conditions

Like field sports, horse racing can be greatly affected by the weather. For example, Churchill Downs (where the Kentucky Derby is held) has a dirt track that is highly susceptible to rain and other water-based inclement weather conditions. Be sure to check the weather report day of, and to monitor the track conditions a couple of days in advance.

History at the Track

How certain jockeys and horses perform on different race tracks can add a lot of betting insight when trying to make a tough decision. How has this horse/jockey combo fared at other races at Churchill Downs in the past? Did they improve one year under a different trainer? History has a habit of repeating itself, and reviewing past data from the track can help you to recognize trends.

Line Shopping

Each sportsbook has a slightly different algorithm when it comes to setting lines, meaning there will be some disparity between them – even if only slight. By making accounts with multiple sportsbooks, you allow yourself the opportunity to activate multiple welcome offers while also ensuring you’re always getting the best odds.

Taking the Underdog

Everyone loves a good comeback story, and last year’s unlikely victory from Rich Strike may encourage more people than usual to wager on an underdog. With such long odds, even a lower-cash bet can pay serious dividends.

Where to watch the Kentucky Derby

The 2024 Kentucky Derby will be aired on NBC and will also be available online at NBCSports.com and the NBC Sports app. The race is tentatively set to kick off at around 6:24 p.m. ET on race day, but last year’s Kentucky Derby didn’t officially begin until 6:57 p.m. ET.

Tuning in well ahead of time is recommended so that you don’t miss a second. For those who cannot access NBC, finding a sportsbook like TVG that offers live streaming is your best bet. You may also be able to stream it via select smartTV devices, like a Roku.

Sportsbooks by category

It doesn't matter what sport or league is your favorite; there's a great sportsbook bonus waiting for you at any number of legal and licensed sportsbooks in your state. Here's a list of the best sportsbooks by category to make your decisions even easier: