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How To Bet on the Kentucky Derby: Easy Steps to Bet Online Today

Patrick Cwiklinski

by Patrick Cwiklinski

Updated May 16, 2024 · 7:26 AM PDT

The 150th running of the Kentucky Derby takes place on Saturday, May 4, 2024 at the Churchill Downs racetrack in Louisville, Kentucky. The Derby is one of the most prestigious betting events of the year that both new bettors and veteran sharps love to wager on.

You don’t need to be a horse racing enthusiast to place a bet on the Run for the Roses either. Betting on the Derby online is easy and legal in plenty of states—including several that don’t yet have legal sports betting yet.

Last year’s Derby saw American thoroughbred racehorse Mage win the Triple Crown competition. He was a 15-1 longshot with decent past performances up to that point. You can check out the latest Kentucky Derby odds now.

Read on to learn where to bet on the Kentucky Derby, the most straightforward types of bets you can make on the Derby, and what to expect when placing a wager on this year’s event.

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How To Bet on the Kentucky Derby Online

You don’t need to be physically present at the Kentucky Derby to bet on it. Once you register for an account with a trusted racebook like FanDuel, you can bet on the Kentucky Derby online without any issue. It’s a great way to get in on all the action without having to be at the Derby itself if you’re unable to attend.


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If you’re keen to bet on the Kentucky Derby online, make sure you keep a close eye on the odds so you know which derby horses are favorites and which ones are underdogs. And don’t worry, if you’re new to betting on the Kentucky Derby online then our reading horse racing odds guide will help you navigate your way around the big event and other horse racing events with ease.

Place Your 2024 Kentucky Derby Bet Today

Now that you know where and how to place a bet on the Kentucky Derby, it’s time to jump into the action. You can bet on any of this year’s top contenders including Dornoch and Sierra Leone by signing up with a racebook.

If you were to take advantage of the $20 No Sweat Derby Bet from FanDuel on an underdog horse, for example, you could score a nice payout.

Here’s how it works:

  1. Open your account and make an initial deposit of at least $5
  2. Bet any horse to win the Derby
  3. If your bet loses, you’ll be refunded the full amount in site credit, up to $20

With the insurance the comes with FanDuel’s Kentucky Derby welcome offer, this deal is a no-brainer for new bettors on Derby Day.

Where to Bet on the Kentucky Derby

Sports Betting Dime is partnered with FanDuel to bring you the best Kentucky Derby online betting experience and exclusive promos. FanDuel is the best-known online racebook for Derby betting and beyond, and they’re offering an awesome promo for this year’s Run of the Roses.

Using the links on this page is the easiest way to ensure you get the best promos for this year’s Derby.

Get ready to place your Kentucky Derby bets by following these easy step-by-step instructions.

  1. Click here (AR, CA, DE, FL, KY, NH, NM, ND, OR, RI, SD, VT) or click here (CO, IL, IN, LA, MD, MA, MI, NY, OH, PA, VA, WV, WY)
  2. Make your first deposit of at least $5. We recommend depositing $20 to take full advantage of the promotion
  3. Place your first single horse win-type bet up to $20
  4. If your bet loses, you’ll be refunded the full amount in site credit

For example, if your initial wager is $20, FanDuel will reward you with $20 in site credit if it comes up short.

Types of Kentucky Derby Bets: 3 Easy Wagers

The three easiest wagers for a novice bettor to place on the Kentucky Derby are win bets, place bets, and show bets.

Let’s break down these simple wagers:

Win Bets

A win bet is the most intuitive of wagers—it means exactly what you think. You must select the horse that wins the Kentucky Derby to cash your ticket. For example, if you place a bet on Sierra Leone to win the 2024 Kentucky Derby then he must win the race.

Place Bets

To cash your place bet, your horse must finish either first or second place. These wagers are easier than win bets, so the payout will be slightly lower. During the 2024 Kentucky Derby, for example, you can place a bet that Sierra Leone will finish in either first or second place. The horse does not have to win the competition for you to get a payout.

Show Bets

A show bet is successful when your horse finishes in first, second, or third. Your chances of success are higher with a show bet, therefore they’re less profitable than win bets or place bets. For our 2024 Kentucky Derby example again, Sierra Leone could finish first, second, or third for you to earn money on a payout.

Check out our guide explaining how to pick a Kentucky Derby winner for more insight on what to expect at the Run for the Roses.

Ready to bet now? .

Kentucky Sports Betting Apps

Horse racing is the oldest and most popular betting type in the Bluegrass State, but it’s not the only way to wager. With Kentucky online sports betting launching on Sept. 28, 2023, sports bettors can start betting on their favorite teams with some of the best sportsbooks on the market.

Sportsbook Kentucky Sportsbook Details
DraftKings DraftKings Kentucky
FanDuel FanDuel Kentucky
Bet365 Bet365 Kentucky
BetMGM BetMGM Kentucky
Caesars Sportsbook Caesars Sportsbook Kentucky

Kentucky sports betting apps give local sports bettors a chance to place bets on whatever teams they love, including major league clubs and NCAA college sports programs. The links in the right side of the table above will give you more information on the best Kentucky sportsbook apps, along with download links and exclusive promos to get you started.

Get Ahead with Horse Racing Betting Guides

Whether you’re new to horse racing or want to take your betting skills to the next level, Sports Betting Dime is here to help you place informed and confident wagers.

There’s still a couple of weeks to go until the 2024 Kentucky Derby, which means you have time to prepare yourself with all the knowledge you need.

Check out our complete list of horse racing betting apps for a more comprehensive look at all available options on where to bet at.  Once you’ve got an account setup, we cover everything from horse racing rules, terminology, and how to read the odds to Derby betting trends that will get you up to speed. If you’re curious about more advanced horse racing betting types, this guide will help you understand them all.

Have fun and enjoy the action out there!


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