2024 Kentucky Derby Reports New Betting Handle Records

The 150th running of the Kentucky Derby treated us to an exciting photo-finish that saw Mystik Dan edge out a victory. It also treated many of our best sports betting sites to a great day as it set numerous betting handle records. 

Mystik Dan cashing at 18-1 to win it all may have surprised some, but the new handle records certainly shouldn't raise many eyebrows. The Kentucky sports betting scene came online in September 2023, the first time people could place legal wagers on the race while physically located within the state.

How it happened

With in-state gambling legalized for the first time at the 150th running of the Kentucky Derby, Churchill Downs Incorporated (CDI) and some of our other best sportsbooks capitalized on additional access. 

TwinSpires - one of the industry's horse race betting leaders - is the official partner of the Kentucky Derby and was taking bets before legalization in the U.S. Legal access just made it even easier for the CDI-owned advance-deposit wagering service to set new records. 

Caesars and DraftKings launched horse race betting apps in recent years, expanding access throughout the states where the two sportsbook giants operate. FanDuel also leaped into the scene in a big way this year.

FanDuel increased its coverage surrounding the Derby in 2024. Kevin Grigsby stated, "We couldn’t be more excited to bring our loyal audience live racing and unprecedented access during Derby Week on FanDuel TV. We thank Churchill Downs Inc. for our partnership.” The Executive Producer and SVP of FanDuel TV added, “There is no bigger event in horse racing than the Kentucky Derby and FanDuel TV will be there for every step of the action.”

The numbers

All-sourced betting on the 2023 Kentucky Derby set a record at $288.7 million for the entire card, but with the growing legalization and interest in the race, this year topped that number by 11%, hitting $320.5 million.

The 12th race at Churchill Downs, this year with a 20-horse field, also had an 11% bump in 2024 while bringing in $210.7 million in handle. Last year the race brought in $188.7 million. 

TwinSpires saw a boom in 2024, recording a 22% increase in its Derby Day program from $75.5 million last year to $92.1 million in 2024. 

CDI had expected another banner year, with CEO Bill Carstanjen stating ahead of the 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."

The full-week handle was even better than expected, blossoming to $446.6 million - an 8% increase from last year's $412 million, which had also been a record.