Kentucky Derby betting guide for 2023

If you've never bet on the ponies before, then it's unlikely you'll know how Kentucky Derby horse racing odds work. We can change that by taking you through an example of typical Kentucky Derby horse odds:

Here's a fictional Kentucky Derby line-up featuring eight great race winners. Secretariat – holding the record for being the fastest horse in the race's history – is the shortest price of the runners and so is the favourite.

An C$8 bet on him wins C$13. That is a total return of C$21. Seattle Slew is next in line as the favourite, while Affirmed is the outsider with the biggest price. To get a total return of C$21 on Affirmed if he wins, all you have to do is stake C$1. That would be C$20 of profit.

For this example, we've used decimal odds. Some British and Irish sportsbooks may use fractional prices, while US sportsbooks will most likely use moneyline (American). If you want to learn more about how expressing odds compare, see our odds calculator below:

Ever heard of 'quinella', 'exacta' or 'trifecta'? They're just some of the Kentucky Derby betting terms you need to be aware of. Now you understand how betting odds work, it's important to read up on the different bet types, listed below:

Betting on the horses can be very simple. You can back the horse you think will cross the finish line first. If you were to stake C$100 on the favourite, Secretariat, your profit would be C$163.

You can also bet on a horse to finish first or second. The odds won't be as long as an outright win, but you still get a return if your pick is the runner up.

A show bet is for a horse to finish first, second or third. If the horse finishes within any of these positions, you win the bet. Again, the price won't be as attractive as a straight win, but then again, the risk of losing is lower.

As the name suggests, this is a combination of bets – in this case, you're betting on a horse to Win, Place and Show. If the horse wins, then you get the winnings from all three bets.

An exacta bet, also known as a perfecta bet, allows you to bet on two horses in the same race, and nominate one to win and the other to finish second in that exact order.

This is similar to an exacta bet, being two bets in one, except you don't have to specify the finishing order if you fancy two horses in the same race. Whichever order you put them in, your payout will be the same.

If you pick three horses out for a race, they can all go in one bet. A trifecta, often called a triactor in Canada, has a specific order to it.

Fancy a real challenge? Why not try and pick the first four horses past the post in the correct order? While this bet comes with much more risk, the rewards can be far greater.

Odds and Kentucky Derby odds to win can open shortly after the running of the previous Derby. You're likely to get a much better price should you bet early, but there are risks attached. If your chosen horse doesn't make it to the track at Churchill Downs, then it loses!

Before placing your bets on the Run for the Roses, have a read through these simple Kentucky Derby tips: