With one of the biggest horse racing events just around the corner, it is time to prepare your betting strategies and hopes to win some money while watching the exciting action on the racecourse.- The Kentucky Derby
The Kentucky Derby is also one of the most wagered horse racing events in the world and there is a good reason for that. Last year, the total amount of money wagered on the Kentucky Derby was around $314.6 million which was an increase of 85% compared to the year prior.
This proves that the Kentucky Derby is not only the most prestigious race in the horse racing calendar but also fans’ favorite when it comes to betting.
However, before jumping into this fast-moving train, you need to learn the basics. The truth is, most people place a bet on the Kentucky Derby without doing too much research which often results in losing money.
With that said here are some tips that can help you place a winning bet on the 2022 Kentucky Derby.
Do Your Homework
The most important thing when it comes to horse racing betting is research. You don’t need to become a horse racing handicapper analyzing big data and searching for patterns, but a quick glance over the previous appearances of all contenders should give you an idea of which horse has the biggest chance of winning.
So, with the Kentucky Derby weeks away, it is the perfect time to do your own research and come up with a betting strategy. Most professional bettors are looking at a few crucial points for every contender, such as horses’ form, trainer, previous results, etc.
After you finish your research, you need to translate that data into the betting language.
Types of Kentucky Derby Bets
After you’ve finished the boring research, you need to make the right choices when it comes to choosing your bets. The truth is, most people go for the traditional Win bet, which is not wrong, but there are many other options that can increase your winning chances and guarantee a profit.
So, before placing any bet, you need to be aware of all the bets you can place on the Kentucky Derby.
This is the most common and straightforward bet in a horse race. The win bet indicates that the chosen horse will win the Kentucky Derby. The minimum wage is from $1-2 depending on the bookmaker.
The place bet improves your winning chances, but at the same time lowers the reward since the bet has a higher probability. The place bet is when a horse finishes second or better.
The show bet is another way to boost your winning chances and is perfect for people that want to play it safe. This bet pays out when the horse finishes third, second, or first.
The Kentucky Derby is the perfect time to spice things up and place some exotic bets that have lower probability, but significant payouts if you manage to get them right.
The Exacta bets allow you to choose the first and second horse on the Derby in the correct order.
Just as the previous bet, the Trifecta bet pays out if you manage to choose the first three spots in the Kentucky Derby in exact order.
If you are feeling lucky and you are hoping for a big win, superfecta is the perfect bet for you. Here you need to choose the first four spots in the Kentucky Derby in exact order.
Choose a Betting Site
Once you know all the types of bets and the strategy that you want to pursue, it is time to put that knowledge into action and find a place where you can place your odds. Back in the day, placing a bet on a horse race was only possible on the racecourse, but with today’s technology, there are many online horse racing betting websites that offer all the betting options you can imagine.
When choosing your betting website, you need to consider a few different things. The first and most important thing is to check out whether the website is legitimate and safe. After you’ve established that you are dealing with a good betting company, it is time to shop for the best odds. Choosing a website that offers the best odds can significantly boost your earnings over a long period of time.
Statistics That Can Help You Make the Right Bet
Now that you know the entire process of how you can bet on the Kentucky Derby, here is some data that can help you make the right decision.
- Favorites have won six out of eight Kentucky Derby Races
- When it comes to points from Kentucky Derby Prep races, seven out of eight winners had more than 100 points
- The form is really important and this statistic proves that. Nine out of ten Kentucky Derby winners won their previous race.