Once the Kentucky Derby rolls around, many start thinking about what they’re going to bet, and it can be a bit intimidating for newcomers, some of whom may have never placed a wager on a horse race before. Before you get wrapped up in the excitement and place your bet, keep in mind the following betting tips for the Kentucky Derby.
Know the contenders
Before you bet, get to know the horses that are running in the Kentucky Derby. The official site for the event makes it easy for you by listing them in order of season ranking, and also provides you with the amount of season points as well as their recent race history, information on the pedigree, and information on the owner and trainer.
Check out the favorites to win
If you need some ideas of which horse to bet on, look at the favorites to win. As of now, American Pharoah and Dortmund are tied with 10/1 odds to win the 2015 Kentucky Derby.
Do your research
Sure, there are people who place a bet based on feeling or because they like the name of the horse, but if you want to increase your chances of winning, do your research. Check out the background of the horse, their owner, how long they’ve been working with their jockey, etc. Chances are you’ll feel more confident in who you’re betting on if you’re sure you’ve done your research on the horse.
Don’t bet more than you can afford to lose
This is a huge rule of gambling. Most tracks have a $2 minimum bet, but some people bet much more even though they can’t afford to simply because they’re sure they’re going to win. If you can’t afford to lose the money, don’t bet it. If you win, it’s a big added bonus.
Know your terminology
When you go up to the window, you want to make sure you say the bet you actually want to make and not mix up the terminology, such as saying place instead of show, or you could lose out on cash. If you’re not sure of the terminology, make yourself a list of terms and take it with you.
Above all, the biggest tip for betting at the Kentucky Derby is to just have fun! It’s a once-a-year so take a few minutes of your day to enjoy it. Once again this year Bob Costas will be bringing it to us Live on NBC on Saturday, May 2nd, 2015.