Kentucky Derby 2020 Expected To Set Betting Record

While the 146th running of the Kentucky Derby is going to be a little different Saturday with no guests at Churchill Downs because of the coronavirus pandemic, there will still be plenty of money wagered on the Run for the Roses.

A record $165.5 million was bet on the 2019 Kentucky Derby, according to Churchill Downs, up 10% from the record set the year prior. With more states legalizing sports betting over the 16 months since last year’s Derby, Saturday’s race is likely to set a new high mark.

There had been plans for the Derby to have limited-capacity seating up to 14%, but Churchill Downs decided against a crowd earlier this month after a rise in local coronavirus cases.

Churchill Downs is pushing bettors onto its betting platform TwinSpires and expects to see a major surge in gambling since no one will be able to bet at the track, CNBC reports. It is prepared to see an increase of 300% of wagers per minute Saturday, according to CNBC, as well as a 400% increase in new account registrations.

Churchill Downs Incorporated stock is up 30% over the last two months.

Total viewership for horse racing is up 300% since the start of the year, according to Michael Mulvihill, Fox Sports' executive vice president of research, league operations, and strategy. Last month, Mulvihill said on a conference call that total consumption of horse racing has grown to 1.45 billion in 2020, up from 365 million at the same point a year ago, BloodHorse reported.

The Derby had initially been scheduled for May 2 until it was postponed and rescheduled four months later. Traditionally the first leg of the Triple Crown, Saturday’s race is the second this year in the quest for the top prize in horse racing.

Tiz the Law won the Belmont Stakes on June 20, and the horse is a 6-5 favorite to win the Kentucky Derby. Honor A.P. has the second-best odds at 7-1. Authentic is third at 8-1.

Of the 17 horses in Saturday’s race, Winning Impression is the biggest longshot with 47-1 odds.