Churchill Downs Incorporated (CDI) reported that the Kentucky Derby, the company’s apex event and a primary driver of the company’s financial success, achieved new betting records this year, breaking previous marks. 

The 148th running of the world’s most prestigious horse racing event in Kentucky also astonished experts and analysts by presenting Rich Strike, who was odds-on to win at 80-1.

Kentucky Derby 148 

According to the CDI, a record-breaking $273.8 million in wagers was placed on Saturday’s race card, topped the previous record of $250.9 million by 9 percent. 

The previous record was achieved in the most recent edition of the event, which took place without any delays or limitations, which took place in 2019. There were about $179 million worth of bets placed on the Kentucky Derby 148, beating the previous record of $165.5 million established in 2019. 

Rich Strike, whose odds to win the race were 80-1, pulled off an incredible upset, and CDI did not disclose how much money it paid out in rewards as a result. This year’s overall betting at the track on Derby Day races indicate a 17.5% rise over the $233 million placed in 2021, while wagers on the Derby race alone represent a 15% increase over the $155.4 million wagered in 2021, according to Kentucky Derby 147. 

TwinSpires had growth during the Kentucky Derby 148, with bets made on the race totaling $67.4 million on the company’s advanced-deposit wagering website, an increase of 8 percent over the previous year. Kentucky Derby betting totals increased by 8 percent to $44 million, which is a comparable increase to the overall increase.

147,294 people attended this year’s edition of the elite horse racing series, which brought the track and the event almost back to its pre-pandemic attendance levels of 150,729 for the year 2019. Following the limitations, the Kentucky Derby had a total attendance of 51,838 in 2021, while the race did not take place in 2020 due to poor attendance. The previous record for attendance was achieved in 2015, when 170,513 people turned up to see the Kentucky Derby.

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Kentucky Oaks recorded $74.6 million in wagers

In addition to the Kentucky Derby record, the Kentucky Oaks established a new record for the firm by generating a record $74.6 million in wagers, beating the previous year’s race by 24 percent. The Kentucky Oaks race alone drew a record $24.3 million in wagers, surpassing the previous high established in 2019 by 25 percent, while the whole week of races drew a record $391.8 million in wagers, surpassing the previous high by 14 percent and setting a new record for wagering volume. Following the record-breaking amount of sports betting activity at the Kentucky Derby 148, the firm expects the Derby’s portion of its overall revenues to establish a new high as well, according to the company.