The Kentucky Derby is dubbed “the most exciting two minutes in sports” for good reason. It’s the most bet on horse race of the year in the United States, and a high percentage of the people who watch the race also place a bet on it. Along with the Super Bowl, it’s one of the biggest single-day betting events on the American sports calendar.

Golden Tempo won the 2026 Kentucky Derby. The 153rd running of the Derby is scheduled for Saturday, May 1st, 2027 at Churchill Downs in Louisville, Kentucky. On this page we explain where you can bet on the Derby, how Derby betting works, and the race’s history.

Where Can You Bet On The Kentucky Derby?

Horse racing is treated differently from other sports betting in the US, which means you can legally bet on the Derby in many states that don’t have legal sportsbooks.

  • Online horse betting sites. Advance deposit wagering (ADW) sites such as TwinSpires, FanDuel Racing and Xpressbet take bets on the Derby in roughly 40 states. Your bets go into the same pari-mutuel pools as bets made at Churchill Downs.
  • At the track or off-track. You can bet in person at Churchill Downs, or at the simulcast areas of racetracks and off-track betting locations across the country.
  • Fixed odds at sportsbooks. Some sportsbooks offer fixed odds on the Derby winner, which lock in your price when you bet.

A handful of states don’t allow online horse betting, including Texas, where betting is only allowed in person at the state’s racetracks, and Georgia and South Carolina, which don’t allow betting on horse races at all. Check our state guides, such as horse race betting in Texas, for details.

2026 Kentucky Derby Odds

Here were the fixed “to win” odds, with post positions, for the 2026 Kentucky Derby (odds taken April 28th, 2026):

2026 Kentucky Derby fixed winner odds and post positions.

Renegade, Further Ado, Commandment, and Chief Wallabee were the four favorites heading into the race, but Golden Tempo crossed the line first. It’s a good example of why the Derby is one of the most popular betting races of the year, with a field of up to 20 horses that rarely makes the favorite a safe bet.

How Kentucky Derby Betting Works

Pari-Mutuel Betting

Most Derby bets are pari-mutuel. All bets go into a shared pool, and the payout depends on how much was bet on each horse, so the odds keep changing right up until post time. Pari-mutuel betting offers the full range of horse racing bets:

  • Win, Place and Show – Your horse to finish 1st, in the top 2, or in the top 3.
  • Exacta, Trifecta and Superfecta – The first 2, 3 or 4 finishers in exact order.
  • Multi-race bets – Wagers like the Pick 4 and Pick 5, which require picking the winners of several consecutive races on the Derby day card.

Fixed Odds Betting

Fixed odds bets lock in your price when you place the bet, like the example above, but are usually limited to the race winner or a top 3 finish.

Getting Started

  1. Check what’s available in your state, whether that’s a licensed online horse betting site, a racetrack or an off-track betting location.
  2. Create and verify your account with your legal name, date of birth and address if you’re betting online.
  3. Study the field. The morning line odds, post positions and each horse’s prep race results are the best starting points.
  4. Choose your bet type and horse(s), enter your amount and submit your bet. The Derby is usually race #12 on the Churchill Downs card.
  5. Set limits. Decide on a budget before Derby day and stick to it. If betting stops being fun, help is available 24/7 by calling 1-800-GAMBLER.

See our horse racing betting section for more on each bet type.

Kentucky Derby Betting Tips

  • Don’t Necessarily Bet the Favorite – The general betting public likes to back winners, so the favorite will often have shorter odds than may be realistic. You can generally get better value betting on other top horses that aren’t the #1 favorite.
  • Do Your Research – Because the Kentucky Derby is the first race of the Triple Crown, there’s less information to go on. But the same is true for the oddsmakers. The more research you do on each horse, the better your chances of picking winners.

Kentucky Derby History

The Derby began in 1875, when 15 three-year-old horses ran in front of approximately 10,000 people. The distance was later changed to one and a quarter miles, which it remains to this day.

The Kentucky Derby is the first race of the US Triple Crown, followed by the Preakness Stakes and Belmont Stakes. There’s always plenty of hype around the Derby winner because they have a chance at winning the Triple Crown. Justify won the Triple Crown in 2018 and American Pharoah in 2015, ending a 36-year drought dating back to Affirmed in 1978. In 2026, Derby winner Golden Tempo skipped the Preakness but went on to win the Belmont Stakes.

The Kentucky Derby takes place on the first Saturday of May at Churchill Downs racetrack in Louisville, Kentucky. To learn more check out the Kentucky Derby Wikipedia page.