This year’s running of the Kentucky Derby set another betting record for Churchill Downs, despite some controversies and late scratches surrounding the race.
Churchill Downs Inc. (CDI) released the figures earlier this week and reported that $188.7 million was bet on Saturday’s race. That was nearly $10 million more than last year’s mark of $179 million.
The day’s racing as a whole also set betting records. There were 14 races, including the Derby, and $288.7 million was wagered. That eclipsed last year’s record amount of $274 million, representing a 5 percent increase.
Derby Week, which runs from Tuesday to the Friday before the Triple Crown race, also saw a record high. In those four days, $412 million was bet. That was $20 million more than last year’s amount of $391 million.
Straight pools were credited for the surge. The straight pool for the Derby was $89.2 million. Betting on win, place, and show pools were up 18 percent.
About the only disappointment were the trifecta and superfecta numbers, which were down from the previous year. The trifecta saw a 4.8 percent drop, while the superfecta was down 7.3 percent.
Still, the figures helped CDI have its best first quarter in company history. They reported $559.5 million in revenue for the first quarter of the year.
The company’s betting segment, Twin Spires, announced a handle of $73.6 million, with the Derby alone pulling in $43 million.
Officials at FanDuel, which is a partner of CDI, forecasted high wagering figures. They pointed to the sportsbook’s ability to let customers use their deposits to bet on the Derby.
Andrew Moore, general manager of racing for FanDuel, said that the company’s expectations for “hundreds of thousands” of bets from FanDuel customers were “in line.”
“We were going into the event hoping to introduce a bunch of FanDuel customers to racing for the first time, and we absolutely succeeded,” Moore told Daily Racing Form.
The week was not without its issues. Five horses were scratched from the Derby—the last time that happened was in 1936. Forte, who was the favorite on Saturday, was scratched early in the morning because of a foot injury.
Wild on Ice suffered an injury earlier in the week and had to be euthanized. He was one of seven horses that were put down during the week.
Usually there are 20 horses in the Derby, but this year the field was 18 with all the scratches. Mage, who was a 15-2 longshot, ended up capturing the race.
The strong numbers certainly pleased those in the business of horse racing. Not only did CDI see record betting numbers, but other facilities, such as horse tracks, racinos and off-track betting sites saw robust numbers.
Ohio was one of those states. Ohio legalized sports betting on January 1.
But Michael Annechino, executive director of the Ohio Thoroughbred Breeders and Owners Association, is concerned sports betting will take away from betting on the ponies.
“There’s only so much money people have to bet,” Annechino told Spectrum News. “If somebody bets $10 on the Browns or the Bengals, that’s $10 less they have to bet on a horse,” he added. “Sports gambling can’t help but have at least a little negative impact on racing.”
Annechino added that he hopes people who bet on sports will be attracted to wagering on horse racing, thus exposing more people to the sport.
“People think of horse racing and picture a bunch of old guys with cigars making bets in a dark room,” Annechino said. “That’s so not what this industry is about.”
