How to Follow the Odds for Horses at the Kentucky Derby

The Kentucky Derby is one of the biggest annual events for experienced gamblers. The $2 million reward for the winning thoroughbred is nothing compared to the millions of dollars thrown around on win, place and show bets. You can take advantage of the competitive atmosphere at the Kentucky Derby by learning to follow the odds.

Instructions

Difficulty: Moderately Easy

1. Learn to read the Churchill Downs tote board to follow the odds for Kentucky Derby horses. The tote board is located near the Jockey Club and features the horse number, odds and racing time for each competitor. You can gain a better understanding of tote-board figures from the UltimateCapper.com (see Resources below).
2. Bookmark a variety of betting websites, such as AllHorseRacing.com, on your computer to follow the odds for horses at the Kentucky Derby (see Resources below). Look for websites with a presence in Kentucky to increase the likelihood of reliable quotes.
3. Purchase a copy of the "Daily Racing Form" the morning of the Kentucky Derby to follow the odds for each horse. This publication provides a list of opening odds for the Derby as well as analysis by editors familiar with the race's tradition. Find it at most newsstands and bookstores, or view the publication's website at DRF.com (see Resources below).
4. Research the odds for Kentucky Derby participants in prior events before you make a wager. A thoroughbred that has declined from the first race in the qualifying season may be a good bet based on the rising odds.
5. Track changes in Kentucky Derby odds made by professional handicappers to get a read on the field of competitors. An experienced odds maker who drops a top horse into underdog status during Derby Week may see a physical problem or track issue overlooked by other experts.
6. Calculate a winning bet accurately to use the odds at the Kentucky Derby to your advantage. The formula for a winning bet is the multiplication of the wager by the odds and an addition of $2.
7. Leave the odds for off-track betters by using parimutuel wagers at Churchill Downs. Parimutuel betting pays out to winning bets from the pool of wagers instead of a house account. This method of betting forces gamblers to focus on popular wagers as well as the performance of horses at the Kentucky Derby.

Tips & Warnings

• Conduct an informal poll of revelers outside of Churchill Downs during Derby Week. Most of the thousands who arrive in Louisville to drink, eat and watch warm-up races are knowledgeable racing fans. Use the poll results as a way to put official odds into context.