The Latest Kentucky Derby Odds 2023 – Compare the Best Odds

The Kentucky Derby is dubbed as “the most exciting two minutes in sport”. It is one of the biggest horse racing betting events in the industry and in 2022 saw wagering almost reach $180 million mark. In this article, we’re going to take a look at the latest Kentucky Derby Odds to see who might prevail in this year’s race.

The Kentucky Derby, also known as “The Run for the Roses” is famed as one of the biggest events in US Sports. Five of the last 11 runnings have been won by Bob Baffert (3) or Doug O’Neil (2) with the former’s all-conquering American Pharoah winning in 2015.

Current Kentucky Derby Odds 2023

Most of the Derby trials have already been completed, and we’ll look at those in more detail further down the page, to get a better understanding of the Kentucky Derby odds for 2023! And, in the table below, you can check out all the current Kentucky Derby 2023 odds at our hand-picked horse betting sportsbooks.

As an example, you can see the American money line odds. So, with Bovada, favorite Forte is a top-price +310 in the futures betting.

 All prices quoted correct as of 09:00 EDT on Friday, May 5 2003.

Top Racebooks for Kentucky Derby Odds

The list below features our top 10 Kentucky Derby sportsbooks and the ones that are offering the best Kentucky Derby pre-race odds.

1. BUSR – 100% welcome offer up to $250 plus up to 8% rebate on all winning and losing race bets.
2. GTBets – 10% weekly rebate on all net racebook losses paid every Monday and regularly updated Kentucky Derby odds.
3. BetOnline – 50% Welcome bonus up to $1000 and a dedicated racebook.
4. BetUS – The racebook covers all US racing as well as European and South African action.
5. Bovada – Enjoy Vegas odds for Kentucky Derby 2022.
6. MyBookie – Industry leader for Kentucky Derby live odds.
7. Xbet – US and European racing action plus up to a $500 welcome deposit bonus.
8. Sportsbetting.ag – One of the biggest Racebook wagering rebates at 9%.
9. Everygame – Good for existing player promos and top value on live Kentucky Derby odds.
10. Betanysports – Automatic 10% Bonus on all win and exotic racebook winning bets.

How do Kentucky Derby Odds Work?

All of the best sportsbooks for the Kentucky Derby will show you odds in one of two formats. You can view it in the “American Odds” format which is normal for sports like the NFL, NBA, and NHL. However, many race fans like to use the old format of fractional and this is what is used on sites like DRF.com.

Searching for the best odds is all part of the game of trying to win at horse racing betting. Early prices or “futures” are usually available around six weeks before the big race. It is at this point that you’ll be able to find all the latest Kentucky Derby odds on your favorite sportsbooks.

Explaining Kentucky Derby Odds

The current favorite for the Kentucky Derby is Forte, one of two leading contenders (based on the betting) trained by Todd Pletcher. Following a win in the Breeders’ Cup Juvenile at Keeneland as a two-year-old last fall and then consecutive Gulfstream Park victories in the Fountain Of Youth Stakes and Florida Derby, oddsmakers side with Forte for Churchill Downs.

Forte ranges between +310 and +250 in the futures betting, quoted in American odds with those prices an expression of how much you will win if you place a wager of $100. Other overseas sportsbooks may use Fractional odds tell you how much you will win if you place a one-unit wager. In the above example, place $1 to win $3.10. This is expressed as 31/10.

If we were backing an odds-on favorite, then the prices would be displayed differently. American odds would be -700 which would mean you need to wager $700 to win $100. The Fractional odds would be 1/7 meaning you have to put on $7 to win $1.

Make sure to keep updated on this page with all the latest Kentucky Derby 2023 horses odds as they change in the run-up to the event.

How to Read Kentucky Derby Odds

American and Fractional (British) odds are the norm for all US-based sportsbooks, but the other type of odds format you might come across and one which is used on European sportsbooks, are decimal odds.

Using our example of Forte and the current Kentucky Derby odds for 2023, this horse would be showing a decimal price of 4.10. This takes into account the amount wagered plus the return, which is often an easier way to work out your bet winnings on a Kentucky Derby odds payout calculator.

To make it easy to understand, the table below shows what the Kentucky Derby morning line odds might look like for the top 5 in the betting market.

How to Sign Up and Find the Best Kentucky Derby Odds

Let’s say for example you wanted to place a wager on the Kentucky Derby today, and you wanted to know the most current odds!

First things first, you’d find a sportsbook/racebook from our horse-racing sportsbook list, check which one had the best offer, and go through the process of setting up an account. We’ll be using BUSR as an example below.

Step 1. Join the Horse Racing Betting Site of your Choice

Go to www.busr.ag, head to the main page and select the red “Join” button on the top right of the page.

Step 2. Fill in your Basic Details

Provide your basic details: name, age, date of birth, etc.

Step 3. Provide Further Details

Add your email, password, and phone number during the second stage of registration for authentication purposes.

Step 4. Add Details of your Address

Fill in your ZIP code, country, address, city, and state where you see the No 3 icon.

Step 5. Make a Deposit

You can click on the red “Deposit Now” button or the big icon showing the payment methods to make your first deposit and grab the welcome offer.

Step 6. Select your Bonus/ Insert Promo Code

Select your preferred sign-up bonus and you’ll be taken to the next screen where you will be given the option to insert a promo code if you have one.

Step 7. Verify your Account

Once you’ve selected your bonus, you will be redirected to the final screen and asked to verify using your registered phone number.

Step 8. Check the Kentucky Derby Current Odds & Place Your Bets

Verify with the two-factor authentication code and you will now be able to deposit funds and start picking out your 2023 Kentucky Derby bets and check out the Kentucky Derby lines and all the Kentucky Derby pre-race odds.

Types of Kentucky Derby Odds Available

There are many different types of Kentucky Derby odds, and we are giving a rundown and examples of the two main types of bets you’ll be placing on the Kentucky Derby in 2023!

Standard wagers are the ones you will most likely already know, like Win, Place, and Show.

On the “Exotic” wagers we go into more detail, explaining how these work with some examples, so you can understand how to bet on the Kentucky Derby, either at the track or online.

Standard Wagers

Standard Wagers are simple bets on a single race for your chosen horse to either win (come first), place (come first or second), or show (come first, second, or third).

Win Bet

A win bet, sometimes can be referred to as “on the nose”, is a single bet where you are selecting one horse to win the race. Your selection must finish first for you to win. The stake for any standard wager in the US is $2. All dividends are declared to a two-dollar stake.

Example:

In the example below the horse White Abarrio finished first, the horse Tiz the Bomb finished second and the horse Messier finished third.

So if you had placed a bet on the horse, White Abarrio to win and your stake was $2, you would get back $5.40.

Now if you placed a bet of $10 then you would get back $27.00 as you would have 5 x $2 bets on the winning horse. 5 x $5.40 = $27.00

Place Bet

A place bet is for a horse to finish first or second, however, you will only receive the place dividend even if your horse finishes first. Like the win bet, the standard stake is $2.

Example:

So if you had placed a bet on the horse Tiz the Bomb to place, and your stake was $2, you would get back $4.60.

If this horse wins then you do not receive the win dividend of $5.40, you only receive the place dividend of $4.60

Now if you placed a bet of $5 then you would get back $11.50 as you would have 2.5 x $2 bets on the winning horse. 2.5 x $4.60 = $11.50

Show Bet

The show bet is one that is more often used when you fancy a longshot or outsider and you think they can hit the board but may not be good enough to win.

This can still be a profitable way of betting as the show dividend is often larger than the win dividend when a favorite wins. We really recommend that you make sure to check out all the odds for the Kentucky Derby at various sportsbooks, before placing your bets on the race!

Example:

So if you had wagered on Messier, as a show bet, then your $2 stake would have returned $6.80, that is more than if you had backed the winning horse White Abarrio.

Now just to be clear, If the horse Messier had won, you would still only receive the payout on the “show” dividend.

Across The Board

Now when we talk about across the board we are talking about placing a bet on the same horse but to Win, Place and Show. This gives you more chance of getting a return on your wager.

Example:

So instead of placing one bet for $2, you are placing three bets of $2 ($2 Win, $2 Place, and $2 Show).

Example: Let’s say you are at the track and you want to place a bet on the horse White Abarrio “Across The Board”, you would go to the cashier or teller and say… “$2 across the board,” and give them the racecard number of the horse you have chosen.

And if “White Abarrio” wins the race, then your across-the-board bet would give you $5.40 + $3.60 + $2.20 = $11.20 for a total outlay of $6.00 giving you a profit of $5.20.

Double Bet

The “Double” is really a variation of the win bet but you have to pick the winner of two consecutive races. This may be more difficult, but will of course be rewarded with a larger payout.

Example:

So as an example, if Race 1 on the card was won by horse White Abarrio and Race 2 was won by the horse Tiz the Bomb, and you selected both horses in your double bet, you would win whatever dividend is returned!

The Double runs right throughout a meeting so race 1 and race 2 would form the first double, then race 2 and race 3, and so on across the whole meeting.

Exotic Wagers

When we talk about exotic wagers we are talking about bets that are a bit more complicated, have more selections involved but are more likely to give you a big win for a small wager.

Exacta Bet

The first type of exotic bet, is the Exacta, which is a bet including two selections in the same race. The goal is to get the two horses to hit the frame in the correct order in first and second.

Example:

You select horse number 1 and horse number 2 and your bet is an Exacta 1-2

If horse 1 wins and horse 2 is second you win and will get the dividend declared. The Exacta has a minimum stake of $2

Now if the result was the other way round and horse number 2 was the winner and horse number 1 was second then your bet would be a loser.

As an example, the Exacta in the Kentucky Derby of 2021 paid $503.60 for a $2 ticket.

Quinella Bet

The Quinella is very similar to the exacta where you are again selecting two horses to come first and second. However, this time you are betting on them to come first and second in any order.

Example:

You select horse number 1 and horse number 2 and your bet is a Quinella 1-2

If horse 1 wins and horse 2 is second you win and will get the dividend declared. The Quinella has a minimum stake of $1

Now if the result was the other way round and horse number 2 was the winner and horse number 1 was second then your bet would still be a winner.

Trifecta Bet

The Trifecta bet is where you have to select the first three horses to finish in the correct order. You can do this bet as a single selection, so you might choose horses 4-6-9 on the racecard and place your bet for your three selections to finish first, second, and third in that order.

Or you could “box” your selections to give you more chances.

Example:

So if you choose three horses in a “box” this would give you six bets.

4-6-9, 4-9-6, 6-4-9, 6-9-4, 9-4-6, 9-6-4

The trifecta minimum stake is $0.50, so in the above example, your bet would cost you 6 x $0.50 = $3.00

$0.50 Trifecta Box with four horses $12 (24 possible combinations)

$0.50 Trifecta Box with five horses $30 (60 possible combinations)

$0.50 Trifecta Box with six horses $60 (120 possible combinations)

$0.50 Trifecta Box with seven horses $105 (210 possible combinations)

As an example, the Trifecta in the 2021 Kentucky Derby paid $848.45 for a $0.50 ticket so make sure to check out the Kentucky Derby trifecta odds which you’ll be able to see on the day of the race via the pari-mutuel boards.

Superfecta Bet

The Superfecta goes a step further and in this wager, you need to select the first four past the wire in the correct order. Of course, a more difficult bet to pull off but the returns can be very high.

Example:

So, you might choose horses 4-6-9-1 on the race card and place your bet for your four selections to finish first, second, third, and fourth in that order.

The minimum stake for a Superfecta bet is $0.10

As an example, the Superfecta in the Kentucky Derby 2021, paid $9,456.40 for a $1 ticket.

Super Hi-Five Bet

The Super Hi-Five puts horse racing bettors in with a chance of winning large sums from a relatively modest wager. As the name indicates, you will be making 5 selections and the aim is to get the first five home.

Example:

As an example, last year’s Kentucky Derby, in 2021, saw a $1.00 Super High Five return a life-changing $296.769.60

So you can place a wager on the Super Hi-Five (sometimes known as a Pentafecta), for just a dollar and pick your 5 horses to finish in the exact order.

You can also “box” your 5 picks, which would mean 120 bets at $1 for a total wager of $120. Some tracks allow smaller stakes of $0.50 on the Super Hi-Five.

Our Kentucky Derby Odds Expert Picks

If you’re looking to find the winner, then our expert handpicked Kentucky Derby odds will point you in the right direction! And, if that’s not enough, we also have a Kentucky Derby 2023 Guide, which is completely dedicated to the race.

This year’s edition looks more open than oddsmakers suggests with lots of great performances in the recent trials from horses in their quest to win “The Run for The Roses”! Below you’ll see our analysis and top selections for this year’s race.

WINNER –  TAPIT TRICE

Ever since last fall when the Breeders’ Cup came to the Commonwealth of Kentucky and was held at Keeneland, Forte has been favorite for the Kentucky Derby. He’s since built on a productive juvenile campaign where he won three Grade I events by adding a fourth after running on real strong up the home stretch in the Florida Derby.

Few can doubt he’s the right market leader based on futures odds, but the Todd Pletcher barn has another bullet to fire at the big race. That is none other than Tapit Trice. He gave his trainer a record-extending seventh victory in the Tampa Bay Derby in Florida, but then swerved a clash with his stable companion by going elsewhere.

Tapit Trice improved again to land the Blue Grass Stakes at Keeneland (watch above), finding plenty for pressure and running down Coolmore-owned colt Verifying by a neck in the Grade I contest. As he was so strong at the finish, another furlong at Churchill Downs doesn’t look like being a problem on paper with stamina on the dam side of his pedigree.

NEXT BEST – DERMA SOTOGAKE

Japanese horses have made so many headlines in the Middle East and at the Breeders’ Cup of late that Derma Sotogake must be taken very seriously in his Kentucky Derby bid. Boasting a transpacific pedigree, the colt by American sire Mind Your Biscuits was nearest at the finish when third in the Saudi Derby over a mile at Riyadh.

Derma Sotogake had already won over further as a juvenile back home in Japan, so it was no surprise when he appreciated the step up in trip for the UAE Derby (watch above) on Dubai World Cup Night. Kicking clear of the field at Meydan in the UAE with two furlongs left to run, he stormed home in a fast time.

As Derma Sotogake wasn’t stopping and hit the line hard, leading home a Japanese 1-2-3-4 in the race, he’s the clear best from his country. Another 100 meters or so in the Kentucky Derby won’t be any problem.

OUTSIDER – TWO PHIL’S

Any number of others will fancy their chances at Churchill Downs Racetrack, Kentucky, come May. While the likes of Angel Of Empire (Risen Star Stakes and Arkansas Derby), and yet another Pletcher contender in Kingsbarns (Louisiana Derby) are all well-found in the market, it could pay to look at outsiders. Practical Move (San Felipe Stakes and Santa Anita Derby) also had claims but was scratched from the race.

One interesting contender is Two Phil’s for Larry Rivelli. A colt by Hard Spun, who had to settle for second to Street Sense in the 2007 Kentucky Derby, there is at first glance something to find with Forte on Breeders’ Cup Juvenile form. That doesn’t allow for the progress Two Phil’s has made since their Keeneland clash in the fall, however.

He came out and won at Churchill Downs in Grade III company before a winter break. Since then, Two Phil’s ran second and third at Fair Grounds behind Instant Coffee and Angel Of Empire before taking the Jeff Ruby at Turfway Park (watch above) back in Kentucky.

The way in which he swept round the home bend and surged clear is evidence he’s getting better. Whether that is enough to turn the tables on Forte, Angel Of Empire and other fancied runners in the Kentucky Derby odds remains to be seen. Two Phil’s could be value for making the show, though, especially if bigger names don’t live up to expectations.

So that is our rundown of Kentucky Derby betting picks. Good luck to all the bettors with whoever you choose for the first leg of the Triple Crown.

Past Kentucky Derby Winners’ Odds

This is the first leg of the American Triple Crown and a race that always draws a huge crowd into Churchill Downs Racetrack. There have been some great winners down the years and below you can see the most recent champions (since 2012) who have entered that winner’s enclosure and been laid with the garland of roses around their neck.

More on horse racing betting…

If you’re still unclear as to any of the specifics regarding the Kentucky Derby or horse racing terminology and betting lines in general, the pages listed below are useful resources.

• Best Kentucky Derby betting sites – All you need to know about 2022 Kentucky Derby betting.
• How to bet on the Kentucky Derby – How to bet on desktop, mobile and even at the track.
• Kentucky Derby picks – Find out what our experts are tipping for the big race.
• Best racebooks – Take a look at the best horse racing racebooks in the US.
• Horse racing free bets – Claim the best horse racing bonuses and promos.
• Horse racing betting apps – Discover the best apps for the Derby and horse racing in general.
• Parimutuel betting – Learn more about this unique betting method.
• Pool betting – Find out more about pool betting on horses at the Derby and beyond.
• Virtual horse racing – There’s always a race on when you bet virtually.
• Sports betting tax – Learn more about US tax laws on horse racing and sports in general.

Best Site for Kentucky Derby Odds

As part of our research and review of the 2023 Kentucky Derby field and odds, we have been looking for the best racebook for our readers and have viewed what we class as the top 10 sites.

The different sportsbooks and racebooks all offer some type of welcome bonus to sign up for an account but we wanted to find the best book for race fans and folks who are interested in the latest and best Kentucky Derby betting odds. And, for us, the one that comes out on top is BUSR since this racebook tends to broadcast the best Kentucky Derby final odds.

BUSR also has a great welcome offer of 100% matched up to $250. However, they also offer a rebate of up to 8% on all (winning and losing) wagers. That includes straight wagers and exotics.

FAQs

Who are the jockeys to watch out for in the race?

Since 2012, there have been three jockeys that have each won the race twice. They are John Velazquez, Mario Gutierrez, and Victor Espinosa.

What are the odds for the Kentucky Derby?

This year’s Kentucky Derby is one of the closest from a betting perspective with the favorite Forte offered between +250 and +300 in the betting. Morning line odds of 3-1 look sure to drop on the day of the big race, so make sure you bookmark the page to keep up to date with the 2023 Kentucky Derby odds.

How are odds chosen in the Kentucky Derby?

The sportsbooks have people working in the back office called traders. It is the job of these traders to research and weigh up the chances of each horse and place odds on that horse. The more money that is placed on a horse the shorter (lower) its price or odds will be.

Who won the last Kentucky Derby? (include their pre-race odds)

The 2022 winner of the Kentucky Derby was Rich Strike. He had massive final odds of 80.80 in decimal prices, underlining what a massive upset it was for him winning the big race.

Who has the best odds to win the Kentucky Derby?

All of the sportsbooks and racebooks we have listed on the page offer strong odds. Make sure to check out the Kentucky Derby morning line odds on the day of the race to get the best odds on your selection.