The Kentucky Derby is one of the biggest races in the world every year. It is the standout spectacle in the US racing calendar. Betting on the Kentucky Derby is big business each year, with everyone trying to get the best Kentucky Derby odds. If you want to bet on horse races, you can use the referral code for bet365 during the sign up process.
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Where can you find the Best Odds for the Kentucky Derby 2023?
Here are some of the best odds for betting on Kentucky Derby at the moment:
| Horse & Trainer | Best Odds | Bet on Kentucky Derby |
|---|---|---|
| H: Life is Good T:Â Bob Baffert | Odds available on the site | bet365 |
| H: Essential Quality T:Â Brad H. Cox | 8/1* | William Hill |
| H: Greatest Honour T:Â Claude R. McGaughey III | 12/1* | William Hill |
| H: Concert Tour T:Â Bob Baffert | Odds available on the site | bet365 |
| H: Caddo River T:Â Brad H. Cox | 14/1* | William Hill |
| H: Prevalence T:Â Brendan P. Walsh | 16/1* | William Hill |
| H: Risk Taking T:Â Â Chad C. Brown | 20/1* | William Hill |
*Odds correct at time of publishing and may be subject to change.
Betting on the Kentucky Derby
This event will be taking place on April 30 and May 1, 2023.
Betting on the Kentucky Derby is always something that bookies look forward to, meaning they often have promotional offers showcasing the best Kentucky Derby odds on the market. For example, bettors can get their hands on money-back offers, enhanced by Kentucky Derby 2023 odds, with many operators.
As it is one of the biggest sports events each year, it is a good idea to shop around to get the best Kentucky Derby odds once you’ve decided what bets you want to place. You can see which operator offers the best Kentucky Derby odds for your choice.
However, be aware that the Kentucky Derby 2023 odds will change before the race. Therefore, you might want to get your bet placed at the current odds before they shorten.
Also, as there is no rule against having accounts with multiple sportsbooks, you can sign up to whichever platform offers the best Kentucky Derby odds. This process is usually very quick and you can usually get a welcome offer.
For more information about betting on this horse race, read our Kentucky Derby betting guide.
Odds Betting: How it Works
The beauty of horse racing is that there are no guarantees. For example, the strong favourite can have a bad day and not perform as anticipated. Longshots might defy all of the odds and end up winning from an unlikely position. This can leave a lot of bettors very happy.
Kentucky Derby odds showcase what the bookies currently believe is the chance of each given horse winning. These odds can change for many reasons. A horse may have a flurry of good (or bad) results, which can change the horse’s odds. A flurry of bets might come in on a given horse, which will also be a factor in its Kentucky Derby odds.
While favourites reflected in the Kentucky Derby odds have been victorious over the years, there have also been a number of longshot winners. For instance, Country House won the 2019 renewal, starting with Kentucky Derby odds of 65/1! Therefore, outsiders can be in with a chance of winning.
Kentucky Derby Early Markets
For the Kentucky Derby odds markets, you will usually come across a range of different types of bets that you can make. These will vary from betting without the favourite markets, as well as place-only markets, and forecasts bets.
However, these markets will usually be available closer to the time of the race.
Otherwise, you will usually only find the winner market being available a few weeks or months out from the big race. Here are the current Kentucky Derby odds for the current top ten candidates for the 2021 renewal:
- Life is Good – 4/1
- Essential Quality – 8/1
- Greatest Honour – 10/1
- Caddo River – 12/1
- Concert Tour – 12/1
- Keepmeinmind – 16/1
- Prevalence – 16/1
- Risk Taking – 16/1
- Helium – 16/1
- Median Spirit – 18/1
What are the Different Odds? What should you be aware of?
There are two main types of Kentucky Derby odds that you will come across. These are the Tote odds and the fixed odds. For the Tote odds, there will normally be a betting pool that will dictate how much a payout you will receive if successful.
The size of your winnings depends on how much money is in the pool, how many other people in the pool have the same winning bet, and the commission that the Tote charges.
This is in contrast to the fixed odds betting that is most popular with online sportsbooks.
When you place a bet at fixed odds, you will be guaranteed usually to get paid out at these odds, no matter if the Kentucky Derby odds for that given horse change after placing the bet. Therefore, you normally have a lot more certainty if you go with fixed odds.
Real-Time Odds: Bet Live
One of the increasingly popular ways to bet on horse races is after they have begun. Live betting on races means that you will be reacting to what you see in front of you as the horses get out of the starting gate.
For example, you might notice a certain horse that is well-positioned to pounce and at good odds. You can then place a bet on it for the rest of the race.
This is a fun way to add even more excitement to the process of watching a race. As well as winner bets, Kentucky Derby odds will likely be available for a few other live betting markets also.
Kentucky Derby Odds FAQ
Reveal more in the FAQ section below.
Most online sportsbooks will offer fixed odds on each of the participants in the race. This means that you will decide what horse you want to bet on and find the best odds for that horse among the various bookies.
Then you place the bet at the optimal odds and this will usually lock the odds in until the end of the race.
If your bet is successful, you will get paid out on these odds. For example, if you place a $10 bet on a horse at 4/1 that wins the race, you will make a profit of $40 and get your $10 stake returned to you.
The favourites for the Kentucky Derby will usually change a few times up until the week or two before the race. At the moment, the favourite is Life is Good at odds of 4/1. The second and third favourites respectively are Essential Quality (8/1) and Greatest Honour (10/1).
Every year, there are plenty of top-quality participants taking part in the Kentucky Derby. Each of these horses on their day can come out victorious if things go their way. For instance, in the 2020 renewal of the Kentucky Derby, Authentic was the 8/1 winner of the race. It narrowly beat off the favourite, Tiz the Law for the victory.
In third place was the longshot, Mr. Big News after going off at odds of 46/1. Only 15 horses started the race after Thousand Words reared in the paddock area and fell not long before the race began.
