For the first time since 1945, the Kentucky Derby won’t be held on the first Saturday in May this year.
The famous equestrian race has been postponed this year due to the coronavirus pandemic, and will instead be held in September.
While the Kentucky Derby’s postponement is a blow to people who were looking forward to the annual race in May, it also has a silver lining: It gives novice betters time to learn more before placing their wagers.
If you want to try your luck in September, here’s a simple guide on how to bet on the Kentucky Derby.
When to Bet
If you think betting only happens the day of the Derby, then you’re mistaken.
In fact, betting on the outcome during the weeks or months prior to the Kentucky Derby actually gives you much better odds—meaning you have a better chance at winning big, even with relatively simple bets. And because the Kentucky Derby’s postponed this year, you have even more time to place your wager in 2020.
Once you log in to your betting platform, look at the schedule to see when you can place your Derby bets, and consider betting sooner rather than later. But first, read up on how to bet on the Kentucky Derby.
Understanding How to Bet on the Kentucky Derby
Horse race betting goes much further than betting on which horse will win.
You can, of course, place simple “win” bets on which horse will take first place. But you can also go deeper with more complicated wagers.
A “show” bet means that you are betting your horse will place first, second, or third. A “trifecta,” meanwhile, it predicts the exact order of the first, second, and third-place horses.
You can take things even further with a “super high five,” in which you bet on the first-fifth place lineup.
As a general rule of thumb, the more complicated a bet is, the better chance you have of winning—or losing—big. But if you’re just getting acquainted with horse race betting, you might be better off sticking with a simple “win” bet this year.
Remember, you can always try for bigger and better bets next year!
Do Your Research
It’s important to remember that you aren’t placing bets in a vacuum. All the horses competing in the Kentucky Derby have track records that might inform how they will perform in the race.
Do your research on which horses are favored to win—or lose. Then decide if you want to make a small win on a sure bet, or take a bit of a risk that could potentially pay off big-time.
Off to the Races!
Now that you understand more about derby betting, you’re ready to place your bets. Remember to never bet a sum of money you’d be distressed to not see again, as nothing is a sure thing in the world of horse betting.
The Kentucky Derby may have been postponed this year, but that doesn’t mean you can’t have fun in the meantime. After you learn how to bet on the Kentucky Derby, check out our website for more on gambling and other fun pastimes.