The opening leg of the Triple Crown season is fast approaching, as the Kentucky Derby 2023 will be staged on the first Saturday in May at Churchill Downs.

It remains one of the most popular betting races in the world, with many bettors enticed into making a wager on the action in Kentucky given the unpredictable nature of the race, and the fact that it is televised on mainstream channels.

But, what are some of the best betting markets that newcomers to gambling can wager on for the Derby in 2023?

 

Win Betting

 

According to TwinSpires, the win betting market remains the most popular method to make a wager on the Kentucky Derby. Here, the bettor will be simply predicting the horse that they believe will win the race. You can find more info about it here: https://www.twinspires.com/kentuckyderby/betting

For example, if you bet on Arabian Knight to win the Kentucky Derby, then the three-year-old must win the race to gain returns. A $10 stake at odds of 3/1 for the selection will pay $40, with the stake from the wager also being returned as part of the winnings.

 

Place Betting

 

Place betting with U.S. sportsbooks is slightly different from making a wager on European books. This is because the place betting market in the United States will only cover the first two horses home.

A wager on this market will enable bettors to get returns providing that their selection finishes in either first or second in the race. It is a potentially profitable sports betting market for horse racing if you’re looking to wager on an outsider in the betting.

 

Show Betting

 

Show betting is also extremely popular when betting on the Kentucky Derby, as this market covers first and second, as well as third. Like the place betting market, returns will be awarded regardless of if your selection wins or not.

However, it will not be lucrative if you’re betting on a favorite to show. Therefore, it is always a preferred market for those that are thinking about placing a bet on an outsider in the race.

 

Exacta Betting

 

Exacta betting is another simple market to understand when wagering on the Kentucky Derby, as the bettor will need to predict the runners that finish the race in first and second. The finishing order must be correct in order to get returns from this wager.

However, those that wish to cover both selections finishing in any order can place an Exacta Box bet. More than two horses can also be placed into this wager, which will enhance the chances of gaining a victory.

 

Trifecta Betting

 

Like the Exacta market, the Trifecta also requires the bettor to correctly predict the finishing order in the Kentucky Derby. However, to get returns in the Exacta, bettors must correctly predict the horses that finish exactly first, second and third in the race.

Like the Exacta, bettors can also place a Trifecta box to cover more selections, which could see a bettor include five horses, and any three of the selections must finish in the top three in order to get returns from the wager.

 

Tips For Horse Racing Betting

 

Making a wager on the Kentucky Derby can often be difficult, as it requires an intense amount of research to unsure that you have made the best selection. This includes looking at the recent form of the horses involved, and assessing whether they will be suited to the distance covered in the Kentucky Derby.

Bettors should also examine the latest strike rate of the jockeys and trainers involved, as well as their previous performances in the legendary race at Churchill Downs.