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For an advanced player, knowledge of parimutuel wagering concepts is an essential component of their handicapping and betting decisions when you wager on Kentucky Derby horses. All horse racing tracks in North America operate under the parimutuel wagering system as do jai alai frontons. A Frenchman named Pierre Ollier receives credit for creating the system in the middle of the 19th century.
A perfumer by trade, Ollier came up with the parimutuel concept as a reaction to losing too much of his money to Parisian bookmakers. Under the parimutuel system, all money wagered on an individual bet type is pooled and the proceeds divided equally among the winning bets placed on races like the Derby. The desirability of lower takeouts is a logical idea as it means more money in the hands of horse bettors.
In the process, however, the horse player will be able to make more bets and generally have a better experience at the track. The state and local government will get a big share. The rest goes to purses for race winners along with track operating costs and overhead. Although horse bettors at Kentucky Derby loathe a high takeout, it is one of the reasons that horse racing has been able to survive and thrive throughout the 20th century when governments would prohibit other forms of gambling.
As we eluded to above, the parimutuel system has its upsides and downsides. One of the biggest liabilities for horseplayers is the reduction of big payout longshots. Simply put, if a lot of people bet on Kentucky Derby or any race longshot at the horse track, it ceases to be a longshot.
At the Kentucky Derby horse track, your payout on a longshot depends on what happens at the betting window up until race time. A player in the sports book has to lay 11 to 10 for most straight bets. In fact, many advanced betting concepts are designed to minimize the impact of the takeout. As a beginning player, you should just focus on making good Kentucky Derby bets, but the takeout percentage is still important to keep in mind.
The tote board at the racetrack might not seem like much in the digital era but its development in the early part of the 20th century revolutionized horse racing. Before the advent of the tote board, the calculations of winning horse bets required manual computation and that could be a time-consuming process. George Julius, an Australian engineer, developed the first all mechanical tote board in the early s with the first unit installed at Ellerslie Racecourse in New Zealand in It would be a couple of decades before the first tote boards came to the United States, first at Hialeah Park, Florida and Arlington Park outside of Chicago Today, virtually all tote boards have been replaced by computers running specialized wagering software displayed on LED screens.
When tote boards first started to become popular it allowed the advocates of horse racing to make a new argument to counter concerns of corruption by civic and religious leaders. This position may be of dubious logic to say the least, but it was surprisingly effective in helping horse racing gain traction across North America during the 20th century. The tote board is still the primary data center for the horse racing enthusiast. To be sure, there are plenty of other sources of horse racing and handicapping data today, but the tote board remains the focal point of the horse racing experience.
Regardless of how you bet, this is the essential information:. The information listed above is in the correct order for calling a bet at the track. It would sound like this:. It helps to write down your wager before you head to the window.
Once you get your tickets, quickly look at them to make sure everything is right. If you catch a mistake at the window, it can be corrected. And tip your ticket writer, especially if you hit a big score. The organization of online horse betting sites is usually in the same order as above—track name first, then race number. Note that the information above is for any straight bet win, place or show.
Kentucky Derby bets are usually divided into two categories—straight bets and exotic bets. As the name implies, straight bets involve wagers on a single horse in a single race to either win or finish near the front of the field. Exotic bets involve either multiple horses in a single race or one or more horses in multiple races. If the horse you bet on wins, you cash your ticket.
As far as placing a win bet goes, the example we used above is appropriate here:. That amount is then divided by the amount wagered on each horse to determine actual payouts. These concepts apply to sports betting moneylines and point spreads as well. Another point worth mentioning here—North American tracks quote odds as fractions but tracks in the rest of the world usually quote them as decimals. In some cases, the betting odds on a favorite horse at Kentucky Derby will be less than even money.
So our profit on this bet is. American Pharoah won the race and cashed all three straight bet types win, place and show. Firing Line finished second and cashed place and show bets. There are exceptions and the Kentucky Derby was one of them. American Pharoah went off as a favorite while Firing Line was Takeout at Churchill Downs is The race track, race book or online betting site will do the math for you.
Then subtract the amount of money wagered on your horse plus the highest amount of place money bet on another horse. This will give you the place pool profit:. There are a number of ways to use these calculations for handicapping. Exotic bets are the exception to that rule and are a relatively modern addition to the horse racing menu. That has changed dramatically to the point that today exotic wagers comprise around 70 to 75 percent of the horse racing handle.
One reason for the explosion in exotic wager options is competition. Throughout most of the 20th century, there were few gambling options to challenge the dominance of horse racing. Florida had a few jai alai frontons, Nevada had casino gambling and there were plenty of illegal bookmakers throughout the country. But as far as legal betting options were concerned, horse racing was just about the only game in town. When the legal gambling market started to expand players not only had options for where to spend their betting dollars but a variety of new wagering opportunities that offered big payouts for small investments.
They flocked to sports betting parlay cards, networked progressive slot jackpots like Megabucks and big dollar, multi-state lotteries such as Powerball. The popularity and high hold percentage of big jackpot bets was not lost on horse racing who had a perfect product for this type of wagering. As the years progressed, the sport would continue to add new bet types with longer odds and bigger payouts to keep up with the massive expansion of other forms of gambling in the North American market.
This is a very good comparison—in both cases, a player must successfully pick more than one outcome to cash a ticket. The more correct outcomes offered in a specific bet means longer odds but a larger payout for the successful handicapper. A vertical bet eg: exacta or trifecta requires the bettor to pick the top finishers in a specific race in the correct order.
A horizontal bet requires the player to pick the winner of a set number of races. The daily double is a horizontal bet but bets involving as many as six or seven races are common today. All of this information will help with your Kentucky Derby predictions. After you have done your research, you will want to find a Kentucky Derby betting site.
Here are the online racebooks that accept bets on the Run for the Roses:. Click here to claim your welcome bonus or find out how to sign up here. Keep reading for more Kentucky Derby Online Betting tips. It is a proud American tradition dating back to its first horse race in Only 13 horses have ever managed to win all three of these events in the same year. This includes, recently, Justify, who won all three races in and was a KY Derby betting favorite. The latest winner of the Kentucky Derby is Country House.
Although the horse to cross the finish line first was Maximum Security, it was later disqualified and Country House was pronounced the winner of Keep reading to find the KY Derby odds for the first race, along with predictions on who will be the champion of the Kentucky Derby The Kentucky Derby betting is a much-beloved tradition for many people, even casual gamblers, from all over the world.
There is nothing more thrilling than seeing your favorite horse on the Kentucky Derby live stream and rooting for them to achieve Triple Crown glory. Now that the Derby will be run without spectators, your chance to get in on the action is by taking part in Kentucky Derby Online Betting. The Kentucky Derby without a doubt is a must-see event on the American sporting calendar — whether you watch it in the stands, your horse racing app or you live stream it at home.
It is also one of the biggest sports betting events in the world. Both novice and experienced bettors take their shot at picking a winner. It truly is a thrill that you have to experience at least once in your lifetime.
Points leader Tiz the Law is by far the favorite, which will no doubt be reflected on his odds. His only true competition could be Art Collector, previously an outsider but who has demonstrated his right to be on the field. Authentic, trained by Bob Baffert, is another possibility. Read more about the Kentucky Derby Horses and their chances to win. Be sure to diarise the most anticipated Kentucky Derby, as it usually strides into a gallop on the first Saturday of May. This year will see the first of the racing start bright and early on September 5 postponed from May.
This is when the Churchill Downs Racetrack, in Louisville will come to life with pedigrees, racing favorite, newcomers, and more. Regarded as perhaps the most prestigious leg of the Triple Crown stakes, the Kentucky Derby has gained in popularity and is quite famous, to say the least.
With over , attendees flocking to the Race Days, the Kentucky Derby is indeed a largely popular event, and with the advent of live streaming now taking center stage, you can add hundreds upon thousands to that tally of fans watching keenly on Race Day, from across the globe! Most fans already know this full well, but always bear in mind when placing those stakes that the Kentucky Derby is a Grade I stakes race, which means that only 3-year old thoroughbred colts are eligible to compete in the race.
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