The 2023 Kentucky Derby shattered records, boasting unprecedented betting on the race, the day’s festivities at Churchill Downs, and the preceding week.
The on-track fervor mirrored the excitement surrounding the historic handle, as Mage, a 15-1 underdog, surged to triumph. Early favorites Forte and Angel of Empire faltered, with Forte withdrawn and Angel of Empire securing third place.
“Projections indicate that adjusted EBITDA for Kentucky Derby Week will achieve another all-time peak, surpassing the previous year’s record by $14 million to $16 million,” remarked Bill Carstanjen, CEO of Churchill Downs Incorporated. “Our focus now shifts to hosting the 150th Kentucky Derby in May 2024, serving as the pinnacle of a year-long commemoration.”
Bets placed on Kentucky Derby Day reached an unparalleled $288.7 million, eclipsing the previous year’s $273.8 million. The Kentucky Derby race itself also established a new benchmark with $188.7 million wagered, compared to $179 million in 2022.
Throughout the entirety of Kentucky Derby Week, total wagers climbed from $391.8 million to $412 million.
TwinSpires, the official betting associate of the Kentucky Derby, documented a record handle of $73.6 million, with $47 million generated by the Kentucky Derby race itself.
The 2022 Kentucky Derby experienced immense triumph, garnering over $67 million in wagers and boasting a substantial prize pool of $44 million. A staggering 150,000 enthusiasts witnessed the spectacle, establishing an unprecedented attendance milestone. Nevertheless, the occasion was not devoid of contention. Proponents of animal welfare, notably those advocating for the ethical treatment of greyhound racing, voiced their dissent against Churchill Downs’ participation in the event.
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