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Sports Betting

Kentucky Derby betting drops by 52% for 2020 race

Churchill Downs has reported the betting on the 146th Kentucky Derby dropped by 52% compared to last year.

horse racing

The betting pool for this year’s race consisted of $79.4m, while last year the Derby recorded $165.5m in wagers. 

The race was held without fans in attendance, and race operator Churchill Downs said the decline can be attributed to the lack of on-site betting and fewer horses on the track.

Nevada bookmakers didn’t participate in this year’s parimutuel betting pool due to an ongoing dispute with Churchill Downs over data fees, according to ESPN.

Bookmakers wanted to increase the charge on all wagers from 4.5% to 5.5%. Instead, the bookmakers accepted wagers independently.

On average, for the past several years, the amount bet at the track has been $22.5m on Derby day. The parimutuel pool for the 2020 race was $126m, the lowest amount since 2002. 

Bill Carstanjen, Churchill Downs CEO, said: "We are grateful to our fans and our community for their support of the 146th Kentucky Oaks and Kentucky Derby." He also expressed hope to see the fans in next year’s Derby which will take place on the first weekend of May. 

The winner of the Derby was Authentic, who was racing against the odds of 8-1. 

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