Kentucky Derby 2024 Betting Guide: How to Bet on the Derby

Kentucky Derby 2024 Betting Guide: How to Bet on the Derby

The Kentucky Derby takes place on Saturday evening, and thousands will flock to Churchill Downs to watch and bet on the event in person.

We, however, have put together a betting guide for those of you at home, that are looking to bet on the Kentucky Derby online. This guide will break down the latest odds, promos, and more for the big race.

Whether you are looking for the latest odds, post positions, expert picks, or the best promos for the event, this oddschecker Kentucky Derby betting guide has you covered.

Horse Racing offers plenty of excitement for sports fans and bettors, and it doesn't get any bigger in the US, than the Kentucky Derby. This is the first leg of the Triple Crown, and owners will dream of their horse getting off to a winning start in these races, in 2024.

Latest Kentucky Derby 2024 Odds

You can compare the latest Kentucky Derby odds on oddschecker, but here is a quick list of the current odds for each horse in this race.

Betting Markets for the 2024 Kentucky Derby

The next thing you need to consider when betting on the 2024 Kentucky Derby is the type of bet you want to place.

There are several different betting types for the big race, which you can find below:

Win Bet: This one is self-explanatory. You are simply betting on which horse you think will win the race. Any other result and your bet will lose.

Place Bet: With a Place Bet, you are betting on a horse to either win or finish 2nd. You will see lower odds but have two chances to win.

Show Bet: This extends the Place Bet even further, as you are betting on a horse to either win, finish 2nd, or finish 3rd.

Each-way Bet: An each-way bet is when you double your bet, so you're putting half your stake on a win, half on a place. You will receive payouts on both parts if your horse goes on to win. This is combining the Win and Place Bet together.

Quinella Bet: With a Quinella Bet, you are betting on two horses to finish 1st and 2nd, but you are not picking in what order. So as long as they finish 1st and 2nd your bet will win.

Exacta Bet: The Exacta Bet is a more extreme version of the Quinella Bet. This time you are not only predicting which horses will finish 1st and 2nd, but also in what order.

Trifecta Bet: Think you really have a good grasp on how this race is going to go? Then bet on which horses will finish 1st, 2nd, and 3rd in order.

Superfecta Bet: If an Exacta or Trifecta are not challenging enough for you, you can place a Superfecta Bet, where you are betting on the top 4 in the race, in order.

Best Promos for the 2024 Kentucky Derby

There are two standout offers for the 2024 Kentucky Derby, brought to you by FanDuel Racing and Twinspires.

Here is a breakdown of both offers.

FanDuel Racing Promo: Get a $500 No Sweat First Bet for the Kentucky Derby

This $500 No Sweat First Bet for the Kentucky Derby can be claimed in the following states: AR, CA, DE, ID, FL, MN, MT, NH, NM, ND, OR, RI, SD, WA

This FanDuel Racing promo is for new users signing up for the standalone FanDuel Horse Racing app. This is only available in states where the FanDuel Sportsbook app is not available. So if you are in Arizona or Colorado, for example, we will get onto your offer shortly.

The $500 No Sweat First Bet gives new users the chance to bet on any horse of their choice during the Kentucky Derby, and either win big or get your stakes back as bonus bets.

The $500 bonus is only the maximum reward, so you do not need to bet as high as that, you will simply be covered for any bet, whether that is $50 or $500!

Here are the key details for this offer.

How to Participate:

• Click this link to sign up for FanDuel Racing
• Place your first real-money wager on any race at any track on FanDuel Racing
• If your first wager loses, get a refund as a Racing Credit up to $500
• Promotion only valid on your first real-money wager
• Limit of one Promotion Bonus per person
• Allow up to 72 hours for refund to be credited to your account
• Refund will be issued as a non-transferable and non-withdrawable Racing Credit that expires after 7 days

Eligibility and Wager Requirements:

• New customers only
• Must be your first real-money wager placed with FanDuel Racing
• Customers who have placed a previous wager on any FanDuel Product are not eligible
• Your first wager placed after a cancellation or settlement of a scratched horse will be considered your first wager

Sportsbook Users FanDuel Racing Promo Code: $20 No Sweat First Bet

This $20 No Sweat First Bet for the Kentucky Derby can be claimed in the following states: AZ, CO, IL, IN, KY, LA, MA, MD, MI, NY, OH, PA, VA, WV, WY

This FanDuel Racing promo is for new users signing up for the first time in a FanDuel Sportsbook state.

New users who are looking to use one app for both Horse Racing and other major sports, will get a $20 No Sweat First Bet for the 2024 Kentucky Derby.

This is significantly different from the standalone app offer, however, this $20 No Sweat First Bet matches the offer from last year, which was well received. Having the chance to bet $20 sweat-free is huge as well.

Here are the key details for this offer.

• Click this link to sign up for FanDuel Racing in your live betting state
• Place a Win bet on a single horse on the Derby
• Only your first single horse win bet on the Derby is eligible
• If your wager loses, get a refund as a Racing Site Credit up to $20
• There is a limit of one Promotion Bonus per person
• Allow up to 72 hours for refund to be credited to your account
• Refund will be issued as a nonwithdrawable Racing Credit that expires on June 10th

Eligibility and Wager Requirements:

• New customers only
• Must be your first real-money wager placed with FanDuel
• Customers who have placed a previous wager on any FanDuel Product are not eligible
• Your first wager placed after a cancellation or settlement of a scratched horse will be considered your first wager

Twinspires Offer Code for the Kentucky Derby: $200 Sign Up Bonus

The Twinspires Kentucky Derby offer code can be claimed in the following states: AZ, AL, AR, CA, CO, CT, DE, FL, ID, IL, IN, IA, KS, KY, LA, MD, MA, MI, MN, MT, MS, NE, NH, NM, NY, ND, OH, OK, OR, PA, RI, SD, TN, VT, VA, DC, WV, WI, WY

Twinspires and the Twinspires offer code is available in many states, which makes their $200 Kentucky Derby promo extremely convenient. Perhaps the biggest asset of this offer is the fact it is available in many states, it is time to consider this $200 bonus.

You will be rewarded for simply wagering on the Kentucky Derby with Twinspires, and with a maximum of $200 available, it is time to take advantage of this epic Twinspires offer code.

Here's how to participate:

• Click this link to sign up for a Twinspires account
• You have now activated your Twinspires offer code, when signing up with our link
• You will now be rewarded $100 for every $400 you wager on Twinspires
• Receive up to $200 in bonus bets from Twinspires, during the Kentucky Derby!

DK Horse Promo Code: How to Claim $250 With DraftKings Horse Racing

You can also claim a $250 deposit bonus using the code HORSE when signing up for DraftKings' Horse Racing app.

The DK Horse app is unsurprisingly a great alternative to the above betting apps, but we think you will get the best value from FanDuel Racing and Twinspires.

Who are the Favorites for the 2024 Kentucky Derby?

Fierceness (+250) and Sierra Leone (+300) are the standout favorites for the 2024 Kentucky Derby, with Catching Freedom (+800) rounding out the top three in the betting.

Fierceness no longer has to overcome the handicap of the #17 post position, which has been an unfavorable starting position over the years. No horse breaking from the #17 position has finished inside the top 3 in this race since 1988, so it is great news for the favorite that Encino pulling out shifted the positions.

Expert Picks for the 2024 Kentucky Derby

For expert picks ahead of this 2024 Kentucky Derby, check out our handicapper selections here.