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Jockey John Velazquez reacts after riding Fierceness to the winner's circle as we look at the best 2024 Kentucky Derby odds.
Jockey John Velazquez reacts after riding Fierceness to the winner's circle after victory during the Breeders' Cup Juvenile. Photo by Harry How/Getty Images via AFP.

After Mystik Dan won the 150th Run for the Roses at Churchill Downs, we're looking ahead to the 2025 Kentucky Derby odds from our best Kentucky Derby betting sites.

Horse racing fans were treated to one of the best finishes in Kentucky Derby history, as Mystik Dan edged out Sierra Leone and Forever Young by a nose (literally) to cash as a consensus 18/1 long shot by our best horse racing betting sites.

We're still awaiting the opening odds for the 2025 Kentucky Derby, which will take place on Saturday, May 3 at Churchill Downs in Louisville, Ky. When they are released, we'll have you covered with our breakdown of the best Kentucky Derby post positions and our guide on how to bet on horse racing.

In the meantime, here's a look at the closing odds and favorites for the 2024 Kentucky Derby. Also be sure to check out our ultimate Kentucky Derby race, a simulation featuring 20 of the best horses in the history of the storied race.

2025 Kentucky Derby odds

We're still waiting for the 2025 Kentucky Derby odds to be released. It's too early to predict which horses might be favored to win that race, but keep an eye on the top races over the next calendar year to get a sense of which competitors are showing positive signs of a strong showing at Churchill Downs.

While we're still awaiting the release of the opening odds for next year's race, here's a look at the closing odds for the 2024 Kentucky Derby.

(Odds updated May 4; see our betting calculators for help translating horse racing odds)

HorsePost positionFanDuelbet365Morning Line odds
Sierra Leone2+300+2505-2
Catching Freedom4+800+100010-1
Just a Touch8+1000+14008-1
Forever Young11+1000+80020-1
Mystik Dan3+2000+250020-1
Just Steel6+2000+250030-1
Honor Marie7+2000+200020-1
Track Phantom12+2000+250030-1
Domestic Product15+3000+250020-1
T O Password10+3000+250050-1
West Saratoga13+5000+500030-1
Grand Mo The First16+5000+660030-1
Society Man20+5000+250050-1
Epic Ride21+5000+250050-1

Don't miss out FanDuel Racing promo code for better value on these odds.

*FanDuel Racing odds available in  AZ, CO, IL, IN, KY, LA, MA, MD, MI, NY, OH, PA, VA, WV, WY
**bet365 Kentucky Derby odds not available in the United States

Kentucky Derby future wager

For reference, here were the closing odds from Churchill Downs' sixth 2024 Kentucky Derby Future Wager. Wagering opened on April 4 and closed on April 6, hours before the Wood Memorial, Blue Grass Stakes, and Santa Anita Derby were conducted.

Be You52-1
Catching Freedom12-1
Common Defense234-1
Domestic Product40-1
El Grande O117-1
Epic Ride156-1
Evening News147-1
Forever Young14-1
Good Money157-1
Grand Mo The First179-1
Honor Marie26-1
Just A Touch22-1
Just Steel30-1
Lat Long322-1
Mc Vay194-1
Mystik Dan35-1
No More Time277-1
Seize the Grey42-1
Sierra Leone7-1
Society Man793-1
T O Password135-1
Top Conor80-1
Track Phantom53-1
Tuscan Sky24-1
Uncle Heavy72-1
West Saratoga121-1
All Other Three-Year-Olds22-1

Kentucky Derby favorites

While we're still waiting to learn the favorites to win this race in 2025, Fierceness and Sierra Leone both entered the 2024 Kentucky Derby among the favorites, each dealing as long as +300 in the hours before the 150th Running of the Roses.

The former got off to an early lead but fizzled down the stretch, finishing 15th in the 20-horse field despite incredible hype leading up to the race. The latter nearly pulled off the win, charging toward the front of the pack down the final straightaway but ultimately falling agonizingly short in a photo finish.

Can winner Mystik Dan parlay that success in the Kentucky Derby into a win at the Preakness Stakes and Belmont Stakes? He's +3300 to pull off the incredible feat according to the latest horse racing Triple Crown odds.

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Kentucky Derby odds over time

Among our best sports betting sites, the only ones offering 2024 Kentucky Derby odds were bet365 (Ontario only) and FanDuel Racing, which featured a FanDuel racing promo code.

Breeders' Cup Juvenile winner Fierceness traded as the betting favorite in the early days before being passed by Sierra Leone following his score in the Risen Star Stakes. Fierceness came back with a vengeance in a highly-rated triumph in the Florida Derby to briefly reassert command in this division, but Sierra Leone's victory in a loaded renewal of the Blue Grass stamped him as the one to beat in Louisville ahead of the May 4 race.

Ultimately, neither could beat out Mystik Dan, which was trading as high as 25/1 with consensus 18/1 odds as of post time. The 3-year-old colt started slow but finished in a big way to pull off the massive upset and win its third race in seven tries.

How are Kentucky Derby odds made?

Kentucky Derby odds are made by oddsmakers, who are experts responsible for setting the initial lines for the race. These odds reflect their assessment of each horse's likelihood of winning based on various factors such as past performances in other races, jockey, trainer, breeding, and recent workouts.

To create these odds, oddsmakers analyze a wide range of data and information about each horse and its connections. They consider factors like the horse's racing history, speed figures, performance in previous races, pedigree, and how well it has fared on similar track conditions.

Additionally, oddsmakers take into account the betting patterns and preferences of the public, as well as any news or developments leading up to the race that could impact a horse's chances. Once they have evaluated all these factors, they assign each horse a morning line odds, which represents their estimate of the horse's probability of winning the race.

These initial odds serve as a starting point for betting, but they can change based on the betting action leading up to the race and any new information that emerges.

Who won the Kentucky Derby and what were the odds?

YearHorsePost PositionOdds
2024Mystik Dan3+1800
2022Rich Strike20+8000
2021Medina Spirit8+1200
2019Country House20+6500
2017Always Dreaming5+450
2015American Pharaoh18+250
2014California Chrome5+250

Kentucky Derby 2025 info

  • Date: Saturday, May 3, 2025
  • Location: Churchill Downs, Louisville, KY
  • Race Distance: 1 1/4 miles
  • Purse: TBD ($5 million in 2024)
  • TV: NBC

Kentucky Derby 2025 FAQs

Who is the 2025 Kentucky Derby favorite?

We're still awaiting the opening odds for the 2025 Kentucky Derby. In 2024, the pre-race favorites were FIerceness and Sierra Leone, both of whom were dealing as high as +300 on race day with those odds representing an implied win probability of 25.00%.

Who won the 2024 Kentucky Derby? 

Mystik Dan won the 2024 Kentucky Derby with jockey Brian Hernandez and trainer Kenneth McPeek.

What were the odds of Mystik winning the Kentucky Derby?

Mystik Dan entered the 2024 Kentucky Derby with odds of +1800.

When is the 2025 Kentucky Derby held?

The 2025 edition of the Kentucky Derby will be held Saturday, May 3.

Where is the 2025 Kentucky Derby held?

The Kentucky Derby is held annually at Churchill Downs in Louisville, Ky.

How to read Kentucky Derby odds

You'll often see horse racing betting sites post odds presented as fractional; for example, an entry might be listed as a 3-1 favorite, or a 50-1 underdog. For those looking to convert fractional horse racing odds to American or decimal odds, you can use our free and handy odds converter.

Where can I bet on the Kentucky Derby 2025?

According to TwinSpires, Americans can legally wager on horse racing in the following states:

With online Kentucky sports betting recently launched, Kentucky horse racing fans should be able to bet from anywhere in the state for the 2025 Kentucky Derby. You can also check out our list of the best Kentucky Derby betting sites here!

Horse racing betting odds pages

Here are our best Kentucky Derby betting sites:

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* Bonuses not applicable in Ontario.

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