The Kentucky Derby is the most prestigious horse racing event of the year, and it makes for one of the largest single-day handles in the gambling industry. After a 2021 Derby that saw the industry shatter previous records, sports betting operators and sports bettors alike are gearing up for another huge Derby day of betting.Â
The most exciting two minutes in sports
The Kentucky Derby is frequently referred to as “the most exciting two minutes in sports”, as the event features a thrilling but short duration. There is an incredible amount of pomp and circumstance surrounding the race, with the tradition of wearing gaudy hats and drinking mint juleps celebrated by race fans all over the world. Horses qualify for the race by acquiring points in a series of select races known as “The Road to the Kentucky Derby”, and the 20 horses who accumulate the most points are awarded a chance to race in the run for the roses.
While of course bettors have always placed wagers at the track on Derby day, the proliferation of legalized
online sports betting
across the USA has made the betting market for the event explode. In 2021, a total of $233 million was waged on the race, up a massive 85% over the 2020 handle. With even more states having legalized betting since the last time the Derby was run, expectations are high for another record-setting day of betting.
Mattress Mack and TwinSpires both ready to go big
Jim “Mattress Mack” McIngvale is one of the USA’s most notorious sports bettors, famously making enormous wagers on various high-profile sporting events. These wagers are frequently tied to promotional offers at his Gallery Furniture chain of furniture stores, where he offers customers the chance to get their purchases for free based on the outcome of these events. McIngvale hedges his promotional offers with large wagers, ensuring he will win big from the bookies in the event he has to give away millions of dollars worth of free furniture. McInvale has another promotion going around the Kentucky Derby, and he stated he intends to bet “$3 to $4 million” on the event. While he is currently leaning towards putting his money on Epicenter, he says he will wait until closer to post time before making his final betting decision(s).
TwinSpires is one of the largest online horse racing betting operators, and they are also the official wagering partner of the Kentucky Derby. They are preparing to take in another record-setting handle. The company handled $40.8 million on the Kentucky Derby race alone in 2021, and a total of $62.7 million in total on the full day’s slate of races at Churchill Downs. As one of the
top bookmakers
in the US, their 2021 handle was up over 75% from their 2020 numbers, and the company is in position for another large increase. The company has created a betting guide to help fans make more informed picks and bets, as the terminology and variety of available wagers can be overwhelming for casual bettors who don’t handicap horse races year round. In addition to their typical betting options, TwinSpires is also offering a free-to-enter event that gives fans a risk-free opportunity to share in a $1,000,000 prize pool.
Early betting favorites for the Kentucky Derby
With less than three weeks to go until the highly-anticipated run and the preliminary Road to the Kentucky Derby races complete, oddsmakers are laying
horse racing odds
on a variety of horses. Epicenter emerged as the points leader after the preliminary race slate was completed last weekend, earning 164 points and becoming the early favorite at 5-1. White Abarrio finished third in the standings with 112 points, but is still a 14-1 longshot, making the horse a popular pick among bettors looking for a big payoff on a small risk. Taiba at 6-1, Zandon at 6-1, Messier at 6-1, and Donegal at 8-1 are some of the other horses that oddsmakers view as having the best chance at winning the first jewel in racing’s Triple Crown.
Savvy horse racing handicappers and casual once-a-year race fans alike are anticipating another thrilling run for the roses. With more Americans than ever before having access to place their legal wagers on the short-but-sweet sporting event, millions of people will have the opportunity to cash in by correctly predicting the winner.
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