2022 Kentucky Derby sets sports betting record handle

Kentucky Derby sports betting record handle
May 7, 2022; Louisville, KY, USA; Sonny Leon aboard Rich Strike celebrates winning the 148th running of the Kentucky Derby at Churchill Downs. Mandatory Credit: Jamie Rhodes-USA TODAY Sports TPX IMAGES OF THE DAY

The 2022 Kentucky Derby wasn’t historic only in the fact that 80-to-1 favorite Rich Strike — the largest underdog to win the Run for the Roses since Donerail at 91-to-1 in 1913 — shocked the horse-racing world, but the trademark first weekend in May also drew a record number of wagers placed on the race.

According to ESPN (h/t Front Office Sports), the 148th running of the Kentucky Derby saw a betting handle of  $179 million in the parimutuel pool. A parimutuel pool is a form of sports betting in which those backing the first three places divide the losers’ stakes.

It provided a 17% increase from the 2021 race and an 8% bump from the previous record which was set in 2019.

In total, $273.8 million was bet on the Kentucky Derby’s full 14-race card this year, up 9% from 2019 while a report from Derby Week added that the total handle was up to $391.8 million.

Of that money put down on the race, only $501,135 was wagered on Rich Strike, which was the lowest of any horse in the field.

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With the improbable win, Rich Strike won $1.8 million and will be the focal point of the 2022 Preakness Stakes at Pimlico on May 21.

He will be only a few of the 19 horses that raced at the Kentucky Derby to participate at the Preakness later this month, though Secret Oath — who won the Kentucky Oaks on Friday — will be featured in the field.

For more sports betting news like this Kentucky Derby update, visit TailgateSports.com