How Does Betting Work At The Kentucky Derby

• FILE - In this May 2, 2015, file photo, a man places a bet before the 141st running of the Kentucky Derby horse race at Churchill Downs, in Louisville, Ky. Picking a horse to win the Kentucky Derby is easy. Hoping that choice wins and pays off with a profit is the challenge.(AP Photo/Jeff Roberson, File)

At Churchill Downs on May 1, the 147th running of the historic Kentucky Derby will take place. This is your Kentucky Derby reference page, examining the history, New York horse betting options, the road to the Derby and handicapping variables for the Fastest Two Minutes in Sports. The Kentucky Derby, dating back to 1875, assembles 20 of the nation’s top 3-year-old thoroughbreds. In the 2017 Kentucky Derby, those who wagered $2 on Always Dreaming won the following amounts for win, place, or show bet types: $11.40 for Win bet ($2 bet plus $9.40 winnings) $7.20 for Place bet ($2 bet plus $5.20 winnings). Make sure you bet on the Kentucky Derby. That's because betting on the Kentucky Derby is a great way to get a good return on investment. Here, are the best online horse racing betting sites, based on research: Bovada Intertops BetOnline MyBookie SportsBetting.ag So how do you place bets online? Sign up, or log into your favorite site; Select the race you wish to bet on; Place your bet.

LOUISVILLE, Ky. — Picking a horse to win the Kentucky Derby is easy.

Placing a bet is as close as a cellphone, tablet, computer or even a smart TV with internet access. But for the novice or inexperienced bettor, making a wager that pays off with a profit can be a challenge: Beginners need to know how to place a bet, who to bet on and where to place the bet.

Off-track simulcasting in more than two dozen states offers a convenient alternative to going to the track. Of course, there’s always the actual experience of walking up to the betting window at the track.

That’s a good option if you can’t get to Churchill Downs, where 150,000 spectators are expected for Saturday’s 145th Derby and hoping to get some action on Game Winner, the 9-2 new morning line favorite after 4-1 previous favorite Omaha Beach was scratched Wednesday evening with a breathing problem.

Minimum bets vary from state to state, but here are some things to consider when placing a wager:

THE BASICS

The obvious wager is betting on a horse to win. Just pick one. But after that, it can get a little trickier.

Bets can be made on a horse to win, place (finish first or second) or show (finish first, second or third) — or all three with an across-the-board wager. An exacta involves correctly picking the first two horses in order, or in any order with a combination known as a box bet (1-2 or 2-1, for example).

Superfecta bets (picking the first four horses) are also available, as are exotic wagers such as Pick 3 and Pick 6 that requires choosing the winning horses in multiple races. A Pick 3 and a Pick 6 are the hardest to predict, leading to rollover jackpots that can be very lucrative. But they probably are best left to more seasoned bettors.

DO YOUR HOMEWORK

Determining who to bet on can start with a daily racing program that lists entrants for each race and information including odds, jockey, trainer, silks, saddle towel color and past performances. They can be purchased at the track, simulcast venue or a track’s website.

It will initially seem like a lot of numbers and statistics, but tracks and web sites offer instructions on how to read and understand a program. One benefit to being at the track is seeing how the horse looks in the paddock or during the pre-race parade. Appearance and temperament are important, so keep an eye on horse’s ears to see how engaged the horse is with the atmosphere.

And there’s nothing wrong with playing a hunch, since after all, it’s just a gamble.

ONLINE BETTING

Kentucky Derby Betting Sites

After learning what to bet and who to bet on, the next step is placing the bet.

Numerous websites such as TwinSpires.com — Churchill Downs’ online service — Equibase.com and TVG.com offer betting at racetracks worldwide. Wagering is free, but it will require setting up a subscription and require banking information to place bets and deposit winnings. Those services even provide live streaming and replays.

Various online sites offer betting tips along with news and updates. It’s the most convenient way to bet on marquee races such as the Kentucky Derby, Preakness and Belmont Stakes as the Triple Crown season unfolds. It’s also a good option for other marquee races during the year such as the Travers Stakes and season-ending Breeders’ Cup World Championships.

PARI-MUTUEL BETTING-SPORTS BETTING

When wagering, the longer the odds the bigger the payoff.

In horse racing, the odds are not finalized until the race begins. That is known as pari-mutuel betting. That’s different than sports betting in which bettors get the odds that are available at the time they make their bet.

How Does Betting Work At The Kentucky Derby

New Jersey tracks also offer exchange wagering for horse races, which differs from pari-mutuel betting. Exchange wagering matches and locks in the odds at the time a bet is placed and also allows betting during the race.

Kentucky Derby Betting Games

And while sports betting expanded in several states last year after the U.S. Supreme Court ruled that states could legalize sports gambling, it does not include horse racing. Even in most states that have legalized sports betting, placing a bet on horse racing is limited to the tracks as the sport examines how to compete and benefit from new legislation.