The Kentucky Derby is bigger than ever.
The first leg of the 2024 Triple Crown received a record $210.7 million in total handle (money bet), up from $188.7 million in 2023.
All 14 races during the 150th installment of the Kentucky Derby drew $320.5 million, a significant increase from the $288.7 million the year prior.
The growth is genuine too, as no additional states have legalized horse racing betting in recent years as it’s already legal in 40 states.
Per Churchill Downs’ PR team, $10.1 million of the bets came from Japan, signaling its growing interest worldwide. The race featured two Japan-bred horses in Forever Young (third) and T O Password.
The Kentucky Derby was first televised in 1952 and bettors wagered $4.3 million at Churchill Downs the following year.
Now, with sports betting legal across the world via gambling apps, the numbers have skyrocketed to unprecedented levels.
Churchill Downs in 1973 reported that $52.3 million was bet on the Kentucky Derby, as Secretariat took home the first leg of what would end up becoming a legendary Triple Crown finish.
On Saturday, bettors poured in to watch what would end up being a photo finish where Mystik Dan took home the grand prize and the win for bettors.
At 18/1 prices, Mystik Dan’s victory shocked many in the betting community that saw plenty of big money action on the favorite Fierceness.
Mystik Dan, though, may not run in the Preakness Stakes, which could end the Triple Crown hunt.
One unknown bettor wagered $100,000 on Fierceness to win, one of the likely many larger bets that were made on the Pari-Mutuel betting system that horse racing offers.
Get the lowdown on the Best USA Sports Betting Sites and Apps
The different types of betting systems aren’t wagers against the house, per se, but bets against a pool of other bettors as prices fluctuate constantly.
The house takes just a rake of the overall pool, which is then given to the victors.
Even in the modern era with same-game parlays, player prop controversies and the Shohei Ohtani scandal, horse racing seems to be stronger than ever in 2024.
