As the date of the biggest horse race in the world, the Kentucky Derby approaches, it is time to prepare your betting strategy and do some homework if you want to walk away with some money in your pocket.
The Kentucky Derby is a one time of year when people who don’t know anything about horse racing suddenly become experts.
But, if you actually want to walk away profitable, it is best if you develop your own strategy and don’t listen much to what the “experts” need to say. After all, horse racing is a very unpredictable sport, and the Kentucky Derby has proven that on many occasions where the underdog became the champion.
So, in today’s article, we will highlight some basic strategies that might point you in the right direction when it comes to betting, but in the end, it all depends on your research and analysis.
Betting Strategies for the Kentucky Derby 2023
Do Your Homework
You know what they say: knowledge is power. Before you throw your hard-earned cash on a horse, do your research.
Look up past winners, check for any injuries or changes in jockeys, and pay attention to any news leading up to the race. The more you know, the better your chances of picking a winner.
Any additional information might be helpful when deciding which horse has the best chance to win the race.
You can check more detailed information about betting here: https://www.twinspires.com/kentuckyderby/betting
Consider the Odds
Unless you have a crystal ball, the morning line odds are your best bet (pun intended) when it comes to predicting the winner. Take a look at the odds for each horse and use them as a guide.
Of course, keep in mind that odds can change as more people place bets, so don’t put all your eggs in one basket.
Spread Your Bets
There is no surprise that the most wagered bet is the Win bet in horse racing, and people often pick the favorite. However, this has proven to be not a very successful strategy, at least if you want to make some profits.
Don’t be that person who puts all their money on one horse and ends up with nothing. Instead, spread your bets across several horses. Sure, you might not win as much money, but at least you’ll have a safer approach that will allow you to cash in some profits.
Go for the Underdog
If you’re feeling bold (or just want to be a rebel), consider betting on the horse with the high odds. Sure, it’s a risk, but if they win, you’ll be rolling in the dough. Just make sure you’re not throwing your money away on a horse with no chance of winning.
As we’ve seen with previous Kentucky Derby Races, such as Rich Strike which won the 148th running of the Derby overcoming 80-1 odds, betting on the underdog might be profitable.
However, it is all down to how you diversify your bets. In other words, place a small amount of money on a few underdogs, and don’t go all in only on one.
Take Advantage of Promotions
Since Kentucky Derby is one of the most popular races in the world, many online betting websites and sportsbooks will hand out special promotions for bettors. This might not look like much, but in the end, it can make a great difference in terms of profits.
Why not get some extra bang for your buck? Look for promotions and bonuses from sportsbooks leading up to the race. Just be sure to read the fine print before you start throwing money around like confetti.
Final Words
The Kentucky Derby is a thrilling event that offers plenty of opportunities to place bets and potentially win big. But there is no “secret” strategy that will guarantee you winning bets.
Just remember to do your homework, consider the odds, spread your bets, go for the underdog, take advantage of promotions, and most importantly, have a good time. And if all else fails, there’s always next year. Cheers to the 2023 Kentucky Derby!