How sports betting will change things for the Kentucky Derby

LEXINGTON, Ky. (ABC36 NEWS NOW) – The Kentucky Derby is just around the corner and it’s going to be a big year for sports betting. Especially here in Kentucky now that sports betting is legal.

“Sports betting has just added another level to the options we have here on the property,” said Gabe Prewitt, Vice President of Racing and Sports Wagering Operations at Red Mile. “It has a lot of traffic and sort of a new demographic.”

To give you an idea just how much money horse betting rakes in, Derby day bets in 2023 were more than $288 million. That’s $14.9 million more than 2022 at $273 million.

And with sports betting now in the state of Kentucky, those numbers could be even higher this year.

“We’ll have the sports books open all day,” said Prewitt. “We’ll have a couple of horse wagering terminals in here as well. So if you’d like to come out and watch sports, watch the races at Churchill including the Derby that will be an option of everyone as well.”

Horse racing bets in the entire United States in 2023 brought in more than $11.6 billion.

Red Mile, partnered with Keeneland, will be hosting a Derby Day. People are required to purchase tickets for the event.

Prewitt says they expect thousands of people to show up throughout the day.

“I think with our partnership with Keeneland it just drives a lot of traffic to the property,” said Prewitt. “There’s a lot of excitement annually with the Derby, most exciting two minutes in sports as we know, so we’re just really excited to for the event every year.”

Doors for Derby Day will open at 10:30 a.m.

If you can’t make it to the Derby in Louisville, Keeneland will also be hosting a Derby party and tailgate on Saturday with gates opening at 10 a.m.