Top Online Sportsbooks for Kentucky Derby

With the 2024 Kentucky Derby fast approaching, now is the time to lock in your bets at the best online racebooks. When selecting a sportsbook for Kentucky Derby betting, key factors to consider include odds, bonuses, rebates, reputation, and ease of use.

We’ve hand-picked the top online betting sites for the Run for the Roses based on the value they offer, their reliability and safety, and rebate offers. More importantly, we’ve selected these racebooks based on our own first-hand experience: all the betting sites recommended below are our favorites for placing our bets every year as the Derby draws near.

Here’s a look at the best sportsbooks to bet on the Kentucky Derby:

Get Up to 9% Rebates on Kentucky Derby Bets at BetOnline

BetOnline is a top choice for Kentucky Derby wagering, with competitive odds, a wide variety of bet types, and generous rebates. They offer daily rebates of up to 9% back on your horse racing bets. With everything from win-place-show and exotics to live betting available, you’ll never run out of lines to wager on. BetOnline also has a 50% welcome bonus up to $1000 to give new players a boost. Their racebook is easy to use, too.

Earn Rewards and Enjoy Promos at Bovada

Bovada makes Kentucky Derby betting an awesome experience with ongoing promotions and their rewards program. New players can take advantage of a 50% welcome bonus up to $250 when they join. Bovada offers competitive Kentucky Derby odds and betting lines, covering everything from futures to live betting. As you wager on the Derby and other races, you’ll accumulate reward points that can be redeemed for free bets and other perks. Bovada also frequently offers odds boosts and promos for the Derby to increase your payout!

Get a 50% Welcome Bonus up to $1000 at MyBookie

MyBookie gives new players a boost with a 50% welcome bonus up to $1000, which you can use right away on Kentucky Derby betting. In addition to a wide range of Run for the Roses lines and exotic bets, MyBookie offers a rebate of up to 8% on your horse racing bets. This cash-back promo applies to the Kentucky Derby too, putting extra money back in your account! MyBookie also has reload bonuses available for existing players. With competitive odds and the rebate, it’s a winning choice for betting on the Kentucky Derby.

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Kentucky Derby Betting Tips

When the first Saturday in May comes around, the Kentucky Derby may provide one of the most profitable few minutes of the year for bettors who play it right.

After years of betting the Run for the Roses, we've developed some key Kentucky Derby betting strategies to follow. Take these as suggestions rather than hard rules, but know that they've proven effective time and again for our team at SportsbookBonus.

Lean on the Prep Races

The Kentucky Derby trail starts early, with promising 3-year-olds competing in prep races like the Florida Derby, Santa Anita Derby, Blue Grass Stakes, and Wood Memorial, as well as other prep races months in advance. Their performances, running styles, and margins of victory in these races can say a lot about their chances of winning the Derby. In short, don't just watch the Derby preps - analyze them.

Take notes of prep race times, speed figures, and lengths behind the winner. Note any problematic trips or traffic issues that may have hindered a horse. Also, make a special note of horses who run well at Churchill Downs. If they have already run well in Louisville there is a good chance they can run well there again. For example, Rich Strike broke his maiden by 17 1/4 lengths at Churchill Downs in 2022 and was an 80-1 winner in the Kentucky Derby the next year!

After assessing the preps and the local form, you'll get a good feel for who stands a chance to win it all.

Watch Workouts at Churchill Downs

Horses ship into Churchill Downs in April to prepare for the big race. That gives you the opportunity to see Derby horses training over the actual track. Churchill Downs does live streaming of morning workouts on YouTube leading into the Derby, so take advantage! These workouts can provide key insights you won't find in past performances.

A horse who struggled at longer distances may show more strength as it adapts to the Churchill track. Or perhaps a horse who dominated preps looks slow in morning workouts. Let these observations guide your analysis.

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Bet Against the Favorite

The Derby favorite certainly can win, but being the most popular horse usually leads to disadvantageous odds. Unless you strongly believe the favorite is a crystal clear winner, it's wise to try beating it with another horse offering more value. After all, from 2019 through 2023, no favorites have won the Kentucky Derby!

This doesn't mean ignoring favorites, as favorites have often hit the board even in recent years. Instead, you can backwheel two or three horses to outrun a vulnerable favorite in an exotic bet, which can lead to a good payout. Just don't put all your budget on one horse!

To sum it up, study Kentucky Derby trends, watch the prep races, analyze workouts, and don't fall in love with favorites. Follow these Kentucky Derby betting tips, and you'll be cashing tickets in no time. And when it comes to placing those bets, be sure to use one of these top-rated online racebooks for the best odds and bonuses!