Betting the 151st Kentucky Derby: how to bet, who will win - ESPN

The Kentucky Derby offers one of the most unique betting opportunities in the sport.

One reason: The race is 1¼ miles long and has up to 20 horses in the field. Because all of the horses are 3 years old, none have raced that distance yet. Combine that with a crowd of more than 100,000 in attendance at Churchill Downs, and the unexpected could happen.

Rich Strike was a last-minute addition to the field in 2022 due to scratches and won at 80-1 odds, paying $163.60 dollars to win on a $2 bet. Mystik Dan, an 18-1 shot, held on to win last year, while favored Fierceness finished 12th. Mystik Dan paid $39.22 to win on $2.

Essentially, it's the one of the few races that draws attention from casual racing fans and the general public instead of only year-round fans. It's the kind of race where bets based on the color of a horse are just as likely to be made as bets informed by weeks of handicapping.

To put it in numerical terms: When Mystik Dan came in third place in the Arkansas Derby last year to punch his ticket to Churchill Downs, the total «Win/Place/Show» pool — the amount of money placed on that type of bet at Oaklawn Park — was $2.4 million.

When he won the Kentucky Derby, the «Win/Place/Show» pool was $104 million.

That means there could be some big payouts, especially if Journalism, who is expected to be heavily favored going into this race, finishes off the board.

Here's what you need to know.

Katherine Terrell

Bob Baffert is back after three-year ban

Trainer Bob Baffert — who has won six runnings of the Kentucky Derby (including with Triple Crown winners American Pharoah and Justify) — was banned by Churchill Downs Inc. for three years and was recently reinstated. This came after his trainee Medina Spirit was