The 2024 Kentucky Derby is set to take place on Saturday, May 4 with the post time at 6:57 p.m. ET on NBC. This is the first leg of the revered Triple Crown. 93h5q

Luckily, horse racing betting is widely-available across the United States and the vast majority of locations can find racebook betting apps. Some of the apps are proprietary versions of bigger platforms (FanDuel Racing, DK Horse) while others are standalone betting platforms (AmWager, DFR Bets, etc).

We’ll walk you through where horse racing betting is available online, different types of bets to make and how to with the top platforms just in time for the Kentucky Derby.

Where can I bet horse racing online? 35z2k

Online horse racing betting is currently available across 41 out of the 50 states. You can bet on the Kentucky Derby online or via mobile app in Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

Different types of horse racing wagers 596a3l

This is not an all-encoming list but features the most popular types of bets for new customers betting on the Derby.

Single Race bets

• Win — This is self-explanatory and you just pick one horse to win a race outright just like a moneyline for sports
• Place — You pick one horse to finish first or second
• Show — You pick one horse to finish first, second or third
• Exacta — You pick two horses to finish first and second in the exact order
• Trifecta — You pick three horses to finish first, second and third in the exact order
• Superfecta — This works the same as an exacta or trifecta but first, second, third and fourth in the exact order

Multi-Race bets

• Daily Double — You pick the winners of two races. You can add multiple horses per race with a bigger stake. For example, let’s say I add the 3, 5 and 7 horses in the first race and the 1, 4, 8 horses in the second race — one of the horses I picked has to win in each race so it’s similar to a parlay in other sports but you get more chances depending on how many horses you add per race.
• Pick 3,4,5 etc. — These work the same as the daily double with more races so essentially the risk is higher having to win more races but the payout is also higher. A Pick 3 is three races, Pick 4 is four races and Pick 5 is five races.

Why do horse racing odds look different from sports betting? 56c5

First, it’s important to note that horse racing odds work differently from traditional sports betting. In normal sports betting, the house (sportsbooks) set the odds and the odds fluctuate until the time of the event. This can change based off information regarding a team like injuries, how the team has fared in recent games and any other pertinent info.

When I place a sports bet on a platform such as FanDuel, my bet is locked in at that price. No matter how the odds fluctuate after I place the bet, I can profit whatever the odds were at the time of my wager.

Horse racing, called pari-mutuel betting, means you bet into one big betting pool with other bettors. The odds fluctuate in real time based off who is betting what so a favorite that’s not getting a lot of action can drop for more payout. Think of this more like the stock market and each horse is a stock.

However, your payout and odds can change even after the race has begun so the payout isn’t locked in until after the race has concluded.

Next, you may be wondering why the odds are fractions vs. American odds in sports betting. It is essentially reading your profit vs. stake.

Let’s say I pick a horse at 5-1. This would be the same line as +500 in American odds or that I will win 5x my stake.

Sometimes, fractional odds can be confusing on first glance with odds like 8-5 but it’s essentially saying you would win $8 for a $5 stake or +160 your money.

Top horse racing betting apps 1pu6v

My personal favorite platforms for betting on major horse racing events such as the Derby are TwinSpires and FanDuel Racing. Here are the major welcome promotions happening across those apps.

TwinSpires 5j611d

TwinSpires offer code: HANDLERACING

$100 bonus for every $400 wagered up to a $400 bonus

States available: AL, AZ, AR, CA, CO, CT, DE, FL, ID, IL, IA, KS, KY, LA, MD, MA, MI, MT, NH, NY, ND, OH, OK, OR, PA, RI, SD, TN, VT, VA, WA, WV, WI, WY

Follow these easy steps to and earn the bonus with TwinSpires.

1. First, click here for the TwinSpires welcome bonus or use the module below.
2. You’ll need to set up a first time with the app using offer code HANDLERACING.
3. The bonus is paid in increments of $100, so you’ll need at least $400 wagered within 30 days to start earning.

The bonus requires you to hit a threshold of $400 or more wagered within 30 days to start earning. Every $400 wagered earns $100 in bonus up to a maximum $400 bonus with $1,600 wagered in that timeframe.

The bonus funds can be used within the TwinSpires platform on any races you prefer and isn’t limited to the Kentucky Derby.

FanDuel Racing 176j3g

$500 No Sweat First Bet — AR, CA, DE, ID, FL, MN, MT, NH, NM, ND (21+), OR, RI, SD, WA (21+)

This acts as a first bet insurance for new customers in states that only offer the FanDuel Racing app. You’ll use the module below or click here to set up your prior to Saturday’s race.

Place any real-money wager on any race or track to qualify for the No Sweat First Bet. If your bet wins, you profit cash while a miss is covered by FanDuel Racing up to $500 in racing credit.

The racing credit will hit your within 72 hours and last for seven days.

 

$20 No Sweat First Bet — AZ (21+), CO, IL, IN (21+), KY, LA, MA, MD, MI, NY, OH, PA, VA, WV, WY

The FanDuel states that also offer sports betting can find a $20 no sweat bet whether you are a new or existing customer.

You’ll need to place a bet of any size on a single horse to win the Kentucky Derby to qualify. If the horse wins, you profit cash while a miss is covered up to $20 in racing credit.

The racing credit can be used within FanDuel racing until June 10 so you could use the racing credit on the Preakness Stakes or Belmont Stakes.

Other horse racing apps available 3j5b22

DK Horse 253y2f

States available (18+, certain states 21+): CA, CO, FL, IL, IN (21+), IA (21+), KY, LA, MD, MA, MN, MN, NY, OH, OR, PA, VA, WA (21+), WV, WY

Welcome offer: 100% Deposit match up to $250 bonus

AmWager 1p6d2u

States available (21+ for all AmWager states): AL, AZ, CT, DE, FL, ID, IN, IA, KA, KY, LA, MD, MA, MT, NH, NM, NY, ND, OH, OK, OR, RI, SD, VT, VI, WA, WV, WY

Welcome offer: 100% Deposit match up to $150 bonus with deposit and wager

DRF Bets 2r5h51

States available (18+, certain states 21+): AL (21+), AZ (21+), AR, CA, CO, CT, DE, FL, ID, IL, IN, IA (21+), KS (21+), KY, LA, MD, MA, MI, MN, MT, NE, NH (21+), NM, NY, ND (21+), OH, OK, OR, PA, RI, SD, TN, VT, VA, WA (21+), WV, WI

Welcome offer: Deposit $200, Earn $200 in bonus

TVG 3h451x

States available (21+ for all TVG states): AZ, AR, CA, CO, CT, DE, FL, ID, IL, IN, IA, KY, LA, MD, MA, MI, MN, MT, NH, NJ, NM, NY, ND, OH, OR, PA, RI, SD, VA, WA, WV, WY

Welcome offer: First bet insurance up to $100 bet