Online betting for Kentucky Derby reaches new heights

Online betting for the 2018 Kentucky Derby horserace surged to great heights for operator Churchill Downs Inc. (CDI). A few lucky race bettors gained from the frenzied activity too.

Online betting registered new records for wagering on both the overall Derby Day programme and on the day’s marquee race.

CDI reported that all-source wagering revenue on the Derby Day slate reached $225.7m, up 8% over 2017’s record of $209.2m. All-source wagering revenue on the marquee race was also registered an 8% increase and reached $149.9m. For Derby Week, total betting handle saw a 9% increase to touch $311.2m.

The gains came despite a steady downpour of rain on Saturday, which relegated the on-track attendance to no better than eighth-best in track history. Attendance over the five-day event improved 7% to just over 375 k.

Fortunately, it never rains at CDI’s advance deposit wagering site TwinSpires, which reported online handle of $39.2m on the day’s slate, up 15% year-on-year. TwinSpires’ handle on the marquee race rose 18% to $24.6m.

CDI CEO Bill Carstanjen said he expected the week’s activity will result in the company’s Q2 adjusted earnings “to reflect another record with $11-to-$13m of growth over last year.”

CDI isnot the only one counting their Derby dollars. ESPN reported that a Wynn Las Vegas bettor collected a hefty $150k prize after putting down a $500 wager on Justify at odds of 300-1 way back in February.

An even larger payday was collected by an unidentified woman from Austin, Texas who accurately parlayed the winners of Derby Day’s Races 8–12. The Pick 5 wager of $18 ultimately returned a whopping $1.43m, a result that a Retama Park, Texas track spokesperson called “unheard of.”