How much money will I win for a $1 Kentucky Derby bet?
Bettors typically take $100 and the use it to place a bet on different Kentucky Derby odds. The real bottom line that most bettors want to understand when they look of a set of odds is how much money they will win. If you only bet $1.00, the amount you win on your bet depends on the predetermined odds that are officially listed when the race begins. Listed below, you can see how much money you will win according to the set of odds a horse has.
|Example Horse Racing Bets|
|1-5 $1.20||7-5 $2.40||7-2 $4.50||9-1 $10.00|
|2-5 $1.40||3-2 $2.50||4-1 $5.00||10-1 $11.00|
|1-2 $1.50||8-5 $2.60||9-2 $5.50||15-1 $16.00|
|3-5 $1.60||9-5 $2.80||5-1 $6.00||20-1 $21.00|
|4-5 $1.80||2-1 $3.00||6-1 $7.00||30-1 $31.00|
|1-1 $2.00||5-2 $3.50||7-1 $8.00||50-1 $51.00|
|6-5 $2.20||3-1 $4.00||8-1 $9.00|
Horse racing odds are your key to placing the best bet for the Kentucky Derby, but it does not mean that they are easy to read or understand. In the world of horse racing, the word odds is used in a couple of different ways, and this can be especially difficult for new horse racing bettors to discern. Regardless, once you understand all of the history, styles, and the other finer points of odds, you will be on your way to using them to your advantage.
History of odds used for the Kentucky Derby
Horse racing is one of the world’s oldest sports and researchers have found evidence of betting on horses as far back as antiquity. However, what is interesting is that betting on horse racing change dramatically in the mid-1800s. It was during this time that a French system called pari-mutuel betting was introduced to the United States. Now, in order to place a horse racing bet with the pari-mutuel system, someone needs to come up with the odds for each horse before the race begins. When you log on to a website to place a bet the day of the race, someone behind the scenes at the racetrack has created and posted the official odds you use to place your wager.
Four different styles of betting odds
When Americans bet on the Kentucky Derby in the United States, they will be shown be the official Churchill Downs odds. The numbers that you can bet on are available the day of the race and will have column for morning line and current odds. On the other hand, if you log on to a betting website based in another country, the odds will look different.
Australia, Asia and Europe typically use fractional odds or decimal odds. Americans also have a style of odds for sports other than horseracing. Keep in mind that, no matter which odds are used when you place a bet online for the Kentucky Derby, they all give you a fair payout on your favorite horse.