Kentucky Derby Exotic Wagers
Horse racing isn’t as popular as it used to be. That’s obvious. However, the Kentucky Derby continues to set records for the amount of money wagered. And the handle on the big race is why bettors should consider placing some exotic bets on the race.
Let’s take a look at some exotic bets and strategies that are appealing in this year’s Kentucky Derby. In an exacta wager, all you have to do is pick the top two finishers. This is easier said than done in a field of twenty horses. One strategy with an exacta. 1 day ago Eight weeks in advance of the Kentucky Derby Presented by Woodford Reserve (G1), the unbeaten Bob Baffert-trained Life Is Good closed as the 2-1 favorite in Pool 4 of the Kentucky Derby Future Wager. A dispute between Churchill Downs, home of the Kentucky Derby, and Nevada sportsbooks threatened to block betting on the Sept. 5 race, but a regulatory solution was found. Exotic bets provide bigger payouts, but require a better understanding of the field. The minimum bet for most wagers is $2, though it’s lowered to $1 on a Box Trifecta and Box Superfecta. Straight Bets (Minimum Cost) Win ($2)- Horse must win race to win bet. Place ($2) – Horse must finish 1st or 2nd to win bet. Show ($2) – Horse must finish 1st, 2nd or 3rd to win bet. Rise exponentially. An exotic wager at the Derby is the best way for you to walk away with a significant amount of scratch for a relatively small bet. Betting Strategy. When many people bet the Kentucky Derby, they like to just pick the horses that are the best-looking or have a name that resonates with them, and that’s a fun way to go about it.
Parimutuel horse racing
Before big horse races like the Kentucky Derby, bettors can place a futures wager with most legal US sportsbooks. This will only pay if the horse wins the race. Betting on individual horse races is different from betting against a sportsbook or casino.
Wagering on an individual horse racing is by parimutuel betting. This type of betting is different than a traditional sportsbook bet.
The word parimutuel is French and means “to wager amongst ourselves.” Basically, all the money bet on the big race for the Kentucky Derby is put into one large betting pool comprised of all money wagered. Winning bets are paid by the racebook or racetrack from the entire pool of money wagered.
The track, Churchill Downs, will take a percentage of the money bet on the Kentucky Derby off the top of the betting pool. The rest of the pool is split among winning bettors. Let’s use some round numbers for an example:
- Money wagered: $1,000,000
- Track take: 20% or $200,000
- Betting pool paid to winners: 80% or $800,000
In the example above, there’s $800,000 to pay out to the winners. The pool of money for winners at the Kentucky Derby is so much larger than a normal horse race. The most popular horse race in the US has a lot of bets made all over the world. Every parimutuel bet goes into that pool no matter where it’s made.
The variety of wagers is large and can be complicated for new bettors. Thankfully for bettors, there’s so much money wagered that the money being split among winners is often more than a race on a random Tuesday afternoon.
ALSO READ: Wagering On The Kentucky Derby? You Can Place Legal Bets On Your Phone In 31 States
Get exotic
The Kentucky Derby has a larger than normal pool of money from bettors. A lot of the money in the pool for bettors to win is made by casual bettors that have little chance to win. This leaves money available to bettors that even do a little research to cash in with
The best way to take advantage of the Run for the Roses might be to add some exotic bets to the mix. These wagers are a bit more complicated than the traditional Win (1st place), Place (2nd place), and show (3rd place) bets.
There are exotics available for single races and multiple races. Since most bettors are only watching for the Kentucky Derby, we’ll focus on the single race exotic wagers:
- Exacta: Pick the first place and second place finishers in order
- Trifecta: Pick the first place, second place, and third place finishers in order
- Superfecta: Pick the first place, second place, third place, and fourth place finishers in order
These exotic are similar to parlays for horse racing. They involve more horses than a Win, Place, Show bet on a single horse. These bets pay more but may cost more to bet.
Some bettors play straight exotic bets where each horse must finish in the selected place. Bettors choose to “box” the horses so any horse can finish in any place. There isn’t a discount to boxing horses, this is just a way to simplify the process of placing multiple bets.
For example, a bettor can place an exacta for the 1 and 3 horses to finish first and second, respectively. Each horse must finish in the specific position for the bet to win. If unsure, the bettor can place a second exacta on the 3 and 1 to finish first and second, respectively.
An easier way to do this would be to box the exacta with the 1 and 3 horse. The two horse exacta bets cost the same regardless of how the example wager is placed. A $2 wager made twice will cost $4.
The process of boxing horses is simple with a two-horse example. However, it’s very helpful when more horses are included in an exacta, trifecta, or superfecta box. The more horses involved with each exotic boxed bet will make each wager more expensive to place.
Big payouts
Payouts for exotic bets can be huge for the Kentucky Derby. Each exotic betting pool pays out differently based on how much money was bet. The payouts are made by taking the total money wagered in the (exacta, trifecta, superfecta) pool and subtracting the track takeout, then dividing the remainder of the money by the number of winning tickets.
The exact winning price is almost impossible to predict. There’s one thing to know: more money is paid when there’s at least one horse with longer odds in the winning exacta, trifecta, or superfecta. The higher the longer odds horses finish the greater the payout tends to be.
Kentucky Derby Exotic Bets
This makes sense since fewer people are wagering on these horses. In this case, there will be fewer winners on any of the exotic bets and each winning exotic will pay more money to the winners.
Betting on the Kentucky Derby
We have a handy Kentucky Derby Betting Guide. This is a great place for new bettors to start understanding how to bet on the Kentucky Derby.
Once odds are posted they will change based on the amount of money wagered on each horse. The odds will change right up until the gates open and the horses run for the roses.
Handicapping horse racing isn’t easy for anyone. A little research can go a long way. There’s so much dead money in the parimutuel betting pool for the Kentucky Derby that throwing a few bucks on the big race isn’t a bad idea.
Tiz the Law will be awfully tough to beat in this year's Kentucky Derby and even tougher to keep out of the exacta. His biggest threat is second choice Honor A. P., who looks primed to run the race of his life. These two runners are five lengths better than the third best horse.
If Tiz the Law and Honor A. P. pull clear, it will be a mad scramble behind them, with many possibilities for third. History has shown that it only takes one price to spice up the Derby trifectas and superfectas. With a chalky exacta expected, let us take a look, in numerical order, at five horses 20-1 or higher that deserve a closer look for your trifecta and superfecta wagers.
Max Player (#2, 30-1)
Max Player already has run a distant third to Tiz the Law twice before, and the pattern could easily continue here. Though he has been no threat to the Derby favorite, his numbers continue to improve — as do Tiz the Law's. He has the perfect style to pick up the pieces and has been working very well for new trainer Steve Asmussen. I expect another move forward from this horse and feel he is the best horse to use as a key in the third and fourth holes in superfectas.
King Guillermo (#6, 20-1)
Kentucky Derby Exotic Wagering
King Guillermo drew well and has the perfect tactical style to sit a great trip. His Tampa Bay Derby win was very impressive, and he did not disgrace himself one bit when running second to the undefeated Nadal. I am not a fan of the four-month designed layoff between starts, but he is certainly one of the most talented runners in the field, and 20-1 is way too big of a price.
Money Moves (#7, 30-1)
It is almost impossible for a Kentucky Derby runner to face older horses in a prep race prior to May, but with this year's Derby in September, an interesting angle has presented itself. Money Moves, Todd Pletcher's only starter in here, ran very well to be second in a tough allowance race against older foes off a layoff that should prepare him well for this spot. His numbers are steadily rising, and this expensive purchase should enjoy the distance. He has more upside than most in this race.
Necker Island (#11, 50-1)
This is purely an equipment change play. Necker Island likes Churchill Downs and has run a few decent races on the Derby Trail, but nothing to make him a threat. He will remove blinkers for this race, however, and he has been working better than almost anyone in this field since taking off the shades. An equipment change can sometimes move a horse up by many lengths, and it is worth taking a shot on his expected improvement at 50-1.
Ny Traffic (#15, 20-1)
It is hard to watch the Haskell and not think Ny Traffic would have gone by Authentic going 1 1/4 miles. While Authentic is 8-1 in the Derby, Ny Traffic offers tremendous value at 20-1. He has a nice tactical style to sit a good trip and continues to improve significantly every time he runs in the Saffie Joseph barn. He might be the most likely horse of this bunch to run third.