Kentucky Derby Primed to Get More Sports Betting Attention in 2024

The Kentucky Derby is annually overflowing with decadence, including plenty of flowers arranged in creative ways on headwear. And now, shortly after Kentucky sports betting was legalized in the fall, there's expected to be a swift uptick in wagering at the best sportsbooks for the annual spectacle.

The Kentucky Derby odds are shuffling and the Kentucky Derby post positions have been announced, and now eager bettors in the Bluegrass State are ready to take off from the starting gates themselves.

Legal online and retail wagering, including at Kentucky sportsbook apps, began in September. And while the Kentucky Derby is the marquee event, there's no shortage of other opportunities for the many horse-racing enthusiasts as they look to cash in over the coming weekend. There are 14 events on Saturday, which come after the Kentucky Oaks runs the day before. Betting records are expected to fall.

Expect a historic weekend

A state legalizing sports betting typically ignites the interest of casual bettors. That's especially true ahead of a tentpole sporting event that's top of mind for in-state sports fans, and a central part of the sporting culture in Kentucky.

That's all partly why the 2024 race is projected to produce eye-popping betting numbers. Toss in the already accelerated growth of betting on the Kentucky Derby even before it was legal in the state at the best sports betting apps, and a rocket-ship ride could easily be coming.

The derby has enjoyed two straight record-setting years already, with 2023 soaring to unseen heights. Last year, Derby Day generated $288.7 million at sportsbooks, including betting sites. It was a substantial increase over the $273.8 million in 2022, which was a record at the time.

Toss in the Oaks Day races on Friday that are also available for betting at books that offer Kentucky sportsbook promos, and betters put down an astronomical $363.6 million throughout the weekend in 2023, according to the Louisville Courier-Journal. Even more astonishingly, the main race alone raked in $188.7 million.

So with sports betting in Kentucky now legal at the best horse racing betting sites and many casuals surely interested now that the barrier for entry is lower, it's not hard to envision the race reaching even greater heights in 2024.

Where to bet on the Kentucky Derby

Many Kentucky Derby betting sites are jumping in now that the state has welcomed legal betting.

FanDuel is among the leaders while offering users in Colorado sports betting, Illinois sports betting, Louisiana sports betting, Maryland sports betting, Indiana sports betting, Michigan sports betting, Ohio sports betting, New York sports betting, Pennsylvania sports betting, Virginia sports betting, West Virginia sports betting, and Wyoming sports betting the chance to place bets on the book's mobile app.

Elsewhere, DraftKings debuted its horse race betting app in 19 states in 2023. Caesars has put out a similar app that's accessible in 21 states, while BetMGM's version is available in Ohio, Louisiana, and Florida sports betting.

And of course, TwinSpires has long been one of the industry's horse race betting leaders. It's the official partner of the Kentucky Derby and was taking bets prior to the wave of legalization in the U.S.