150th Kentucky Derby Goes Down in History with $320.5 Million in Wagers

Another Kentucky Derby has come and gone, with Churchill Downs, the famous racetrack in Louisville, Kentucky, revealing the statistics: a crowd of 156,710 fans descended upon the venue on Derby day, eager to witness their favorites in action and place their bets. The bets placed during the event reached $446 million, underscoring the popularity of the races.

The winner Mystik Dan:

The winner of the 150th Kentucky Derby was Mystik Dan, who achieved the Garland of Roses. He was presented by Woodford Reserve, and the odds were 18-1. However, despite the weather conditions and clouds in the sky, he managed to arrive first and claim the win.

The value of the bets hit the record when it comes to the Kentucky Derby race, the Kentucky Derby Day program, and the races throughout the Kentucky Derby Week.

The winner, Mystik Dan, is owned by 4 G Racking, LLC (Brent Gasaway), Lance Gasaway, Daniel Hamby III, and Valley View Farm, LLC (Scott Hamby9). His trainer is Kenneth McPeek, and he was bred in Kentucky by Lance Gasaway, Daniel Hamby, and 4 G Racing, LLC. Brian Hernandez Jr. rode the horse, and the joint efforts of Mystik Dan and Hernandez resulted in him winning the race by a nose in a photo finish that saw three horses. 

Both McPeek and Hernandez took two trophies at the Derby and Kentucky Oaks. 

Shattered records:

When it comes to placing bets during the program of Kentucky Derby Day, a record of $320.5 million has been scored. This year’s total wagers soared to new heights, marking an impressive 11.1% increase from the $288.7 million wagered in 2023.

The Kentucky Derby race alone amassed an astonishing $210.7 million in all-source bets, establishing yet another record. This figure represents a significant surge from the previous record of $188.7 million set in 2023.

Handle for Derby Week was $446.6 million, which is also the highest ever recorded. Last year, the amount was $412.0 million.

The only record that hasn’t been shattered this year is the number of visitors. While the number was bigger than the 150,335 visitors in 2023, the record still holds for 2015, when the event was visited by 170,513 people.

The official partner of the race is TwinSpires, and according to their figures, $92.1 million was wagered on Churchill Downs races. In 2023, that amount was $75.5 million, with all affiliate wagers and settled future bets included.

The derby outgrew the US market, drawing the attention of fans all over the world, so this time, the race saw two starters from Japan. Forever Young was third, while T O Password was the fifth one to finish the race.

Thanks to Churchill Downs Inc., the derby featured a new Paddock, where new luxury reserved seating areas were available. The Woodford Reserve Paddock Club and Sports Illustrated’s Club SI allowed the visitors to see the horses in the paddock and have a close look at the racetrack.

As Paulick Report reports, citing a press release from Churchill Downs Inc., the racetrack’s CEO Bill Carstanjen, said: “The Kentucky Derby is a testament to the enduring spirit of sportsmanship, unity and the power of tradition. We were honored to debut our transformational new Paddock as we celebrated this milestone 150th Run for the Roses. The new Paddock has fundamentally enhanced the experience of all of our guests as they pass through our front gates and is a stepping stone to the next chapter of this time-honored event. We expect the Kentucky Derby Week Adjusted EBITDA to reflect a new record with $26 to $28 million of growth over the prior record set last year. As we reflect on 150 years of our storied past, we remain committed to innovating new experiences for Derby fans.”