Online betting drives Kentucky Derby to new wagering record

Race bettors wagered a record amount on the 143rd annual Kentucky Derby thanks in large part to strong online wagering activity.

Lousy weather kept many fans away from the Churchill Downs racetrack this weekend, which culminated in betting favorite Always Dreaming winning the marquee race. The event attracted just over 158k spectators, the seventh largest figure in the race’s illustrious history.

Despite the reduced attendance, all-source wagering on Saturday’s races hit a new record of $209.2m, 8.6% higher than last year’s total and 9% better than 2015’s then-record $194.3m. Wagering on the actual marquee race was up 12% from last year and up 1% from 2015’s tally.

The disparity between on-site attendance and betting volume was mirrored for the broader Derby Week festivities, which saw attendance falling 7% from 2016 to 349k, while all-sources betting handle for Derby Week rose 7% to a new record $285.1m.