Best Kentucky Derby Betting Sites: 2023

The Kentucky Derby is one of the most exciting sports gambling events of the year, and has been for decades. While PASPA was overturned in 2018, horse racing betting has been a legal betting source in many states for much longer. In fact, horse racing gambling is legal in 41 states/regions within the US.

Now, the thing is, the best online horse racing platforms are a little different from the big-name providers you may be used to seeing in online casinos or sports gambling. That doesn't take anything away from them though, as they are some of the best online betting platforms you will find as they are well-established with a long history of providing Kentucky Derby bettors with excellent odds, lines, and plenty of markets to choose from when placing bets.

Where to Bet on the Kentucky Derby Online

The expert Kentucky Derby bettors at WSN have two sportsbooks that we recommend. TwinSpires and TVG are the best you will find for betting on the Kentucky Derby and all horse racing online.

TwinSpires

TwinSpires is a part of the publicly traded Churchill Downs company and is the official home for the Kentucky Derby online. When a new Kentucky Derby bettor signs up, they automatically qualify for a $200 betting credit. That's right. It is that simple, sign up and get $200 in TwinSpires betting credits to boost your bankroll coming into a big horse racing betting Saturday. 

TVG

TVG, an exceptional horse racing betting platform powered by FanDuel, is another superb option for anyone looking to bet on the Kentucky Derby. All new horse racing gamblers can get $200 back on their first single horse bet if it loses. This is a great offer, as you can bet on a long shot and know that even if they lose, you can get your stake back.

How to Bet on the Kentucky Derby

Betting on horse racing is quite a bit different from most sports, but it can be just as fun and even more profitable at times. Here is a brief breakdown of some of the most common bet types on the Kentucky Derby.

Win Bet

The most straightforward bet you can place on the Kentucky Derby is a win bet. Simply choose the horse you think will win. This is basically a money line bet but with longer odds as there are more than two teams, as a horse racing field has upwards of 15 horses, with this year's Kentucky Derby having 20 horses.

Place Bet

A place bet is a wager for your horse selection to get first or second. While the odds may not be as long, and your winnings are potentially lower, it can give you a better chance of a winning bet.

Show Bet

Similar to a place bet, a show bet increases the number of potential winning spots to three. You will win the wager if the horse you bet on in the Kentucky Derby places 1st, 2nd, or 3rd in a show bet.

Exacta

The exacta is essentially a two-leg parlay; select the horse that gets first and the horse that gets second correctly. This type of wager may be more challenging to win, but the odds are larger, making your potential profit much higher.

Trifecta

If you feel good about your exacta bet, consider expanding it to a trifecta or placing your exacta and a trifecta. For a trifecta bet, you need to correctly pick which horses will get 1st, 2nd, and 3rd in the Kentucky Derby. 

Other Horse Racing Bets

Horse racing bettors are not limited to the above wagers, but they are the most typical bets placed on the Kentucky Derby. There are other types of wagers and further breakdowns on how to bet on the Kentucky Derby on the WSN Horse Racing Page.

Horse Racing Calculator

All the betting options for the Kentucky Derby may seem overwhelming, and you may wonder what your final odds will be and how much you can win when putting together an exacta or trifecta. We have you covered with the exclusive WSN Horse Racing Calculator

Kentucky Derby 2023 Odds

Now that you know how to bet on the Kentucky Derby and how to get some great promos to boost your bankroll, here are the options for who you can bet on in the Kentucky Derby. This year's favorites include:

• Forte at 3/1

• Tapit Trice at 6/1

• Angel of Empire 8/1 

While there are five long shots for the Kentucky Derby this year:

• Jace’s Road at 50/1

• Sun Thunder at 50/1

• Raise Cain at 50/1

• Lord Miles at 50/1

• Continuar at 50/1

See all the latest Kentucky Derby 2023 odds and picks here.

How to Watch the Kentucky Derby

Where: Churchill Downs

When: Saturday, May 6. 

Post Time: 6:57 pm ET

Race Time: 7:30 pm ET

TV: NBC

Streaming Options: NBC Sports App, Peacock, TwinSpires, TVG

Where is it Legal to Bet on the Kentucky Derby Online

With 41 states and regions within the US, there is a lot of availability for where you can legally bet on the Kentucky Derby. The following states allow online Kentucky Derby betting:

• Alabama

• Arizona

• Arkansas

• California

• Colorado

• Connecticut

• Delaware

• Florida

• Idaho

• Illinois

• Indiana

• Iowa

• Kansas

• Kentucky

• Louisiana

• Maryland

• Massachusetts

• Michigan

• Minnesota

• Missouri

• Montana

• Nebraska

• New Hampshire

• New Jersey

• New York

• North Dakota

• Ohio

• Oklahoma

• Oregon

• Pennsylvania

• Rhode Island

• South Dakota

• Tennessee

• Vermont

• Virginia

• Washington

• West Virginia

• Wisconsin

• Wyoming

Kentucky Derby History Fast Facts

The Kentucky Derby was first run in 1875 and has been running every year since. Here are some fun facts about the Kentucky Derby:

• The first filly (female), Regret, won in the 41st running of the Kentucky Derby in 1915.

• Sir Barton won the Derby in 1919 and became the first horse to win the Triple Crown.

• The Kentucky Derby is permanently scheduled for the first Saturday in May in 1931.

• The Kentucky Derby purse exceeded $100,000 for the first time in 1954.

• In 1968 Dancer’s Image was the first horse to be disqualified after winning the Kentucky Derby for taking an illegal medication. Second-place finisher Forward Pass was declared the winner.

• Secretariat wins the 99th Kentucky Derby win the fasted finishing time ever of 1:59:4

  • See all the fastest Kentucky Derby times ever with our Fastest Kentucky Derby Times article.

• The first million-dollar purse was won by Thunder Gulch in 1995.

• 1999 is the 125th running of the Kentucky Derby and also the first year when futures bets were allowed.

• American Pharaoh breaks the 30-year Triple Crown drought by winning the Kentucky Derby, followed by the Preakness and the Belmont Stakes in 2015.

Kentucky Derby Betting FAQ

Can I bet on the Kentucky Derby online?

Yes, we recommend using Twin Spires or TVG, the top two review Kentucky Derby betting sites by WSN horse racing experts.

Are there any Kentucky Derby betting promos?

Yes, both TVG and TwinSpires have excellent Kentucky Derby betting promos. New horse racing gamblers can claim a $200 second chance bet at TVG and a $200 betting credit at TwinSpires at sign-up.

Who was the last horse to win the Triple Crown?

Justify was the last horse to win the Triple Crown in 2018.

What races make up the Triple Crown?

The Triple Crown comprises three races, the first being the Kentucky Derby, then the Preakness Stakes, and the third and final race, the Belmont Stakes.