The Kentucky Derby—it’s the horse racing event of the year and the perfect opportunity to try your hand at betting.
With 20 thoroughbred horses and their jackets training for years, winning the Derby is a lifetime achievement that brings in prestige and millions in prize money.
But if you’re new to horse racing and thinking of making a few bets on the Derby, how can you increase your odds of winning? To learn more, keep reading for our top five pro tips for betting on the Kentucky Derby.
1. When Betting on the Kentucky Derby, Do Your Research First
If you’re betting on the Kentucky Derby, it helps to do your homework first. Read up on each of the horses in the race, their racing history, and their skills and weaknesses.
Then, examine the betting odds and make an informed decision on which horses to place money on. Sure, you can make random bets based on a horse’s name, owner, or appearance, but for the best chance of winning, make sure you know what you’re betting on!
2. Understand the Types of Bets
When it comes to betting on the Kentucky Derby, or any horse race, it helps to understand the different types of bets. You may be surprised to learn that your horse doesn’t need to come in first for you to win.
For example, with a place bet, you win if your horse places first, second, or third, which increases your odds of winning. Or, if you’re up for more of a challenge, place a Quinella bet, which requires you to predict which horses will place in both first and second (in either order).
3. Bet on Multiple Races
The Kentucky Derby is the most famous, but there are actually races all through the day on Derby Day. Why not place a few bets on earlier races?
It’s a good way to extend the fun and also give you some insight into how the betting process works before the big race.
4. Try Online Betting
If you’re not able to experience the excitement of the race in person, you can still get in on the action through betting online.
You can bet on Kentucky Derby online from the comfort and privacy of your own home, which can be less stressful than making a bet in real-life. Plus, you have access to the internet as you bet, allowing you to check out odds and research each horse.
5. Know Your Limits
Kentucky Derby betting can be a lot of fun, but don’t get in over your head. Know your limits when it comes to betting and be sure to gamble responsibly.
Hopefully, you’ll win big, but you still want to make sure you don’t spend more than you can afford.
Win Big at the Kentucky Derby
The Kentucky Derby is one of the biggest days of the year for racing enthusiasts, so make the most of it.
Use the tips above to start making your bets and you’re sure to pick a winner or two! Don your most dapper hat, enjoy a mint julep, and prepare for a day of fun, adrenaline, and entertainment.
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