Kentucky Derby Betting Sites in Canada

The Kentucky Derby is among the most prestigious horse racing events worldwide. For many, the event, held annually on the first Saturday in May, is “the most exciting two minutes in sports,” generating significant action among Canadian players on betting sites. Our website offers a comprehensive overview of Kentucky Derby betting Canada, including the game, odds, and predictions. Whether you fancy yourself to be an experienced bettor or are new to horse racing betting, our website is a reliable source of information to help readers make informed decisions regarding Kentucky Derby betting.
Written by
Steve Madson
Updated
Apr 23, 2024
Checked by
Nina Winston

Best Kentucky Derby Online Sportsbooks 2024

Safe and licenced
Safe and licenced
Top rated
Top rated
Faster payments
Faster payments
High payments
High payments
#
Rating
Bonus
Features
Play
1
Rating
5 /5
100% up to $150
with the Greatest Odds
  • Horse Racing
  • Top Events
  • Live Streams
Established
2021
Licence
AGCO, Ontario
Total Games
4000+
  • Interac
  • Mastercard
  • Neosurf
  • Payz
  • Muchbetter
  • Flexepin
  • Jeton
  • eZeeWallet
  • MiFinity
  • Bitcoin
  • Binance Pay
  • Dogecoin
  • Ethereum
  • eVoucher
  • Litecoin
  • TRON
  • USD Coin
  • USDT (Teather)
2
Rating
5 /5
100% UP TO C$150
Boosted Odds
T&C apply
  • Only to new players 18+ on their first deposit with a maximum bonus of 180 CAD.
  • Depositing 180 CAD results in a starting balance of 360 CAD.
  • Players receive 120 free spins in sets of 30 over 4 days, with the first set credited immediately after bonus activation.
  • Winnings from free spins come with a 40x wagering requirement.
  • Calculation of possible winnings
  • Singles and multi bets
  • Various betting markets on top sporting events
  • Supports many cryptocurrencies
  • Wide range of payment methods
Established
2020
Licence
Curacao
Total Games
2500+
  • Interac
  • Visa
  • Mastercard
  • Google pay
  • Neosurf
  • Payz
  • Paysafe
  • Muchbetter
  • iDebit
  • Flexepin
  • Jeton
  • eZeeWallet
  • MiFinity
  • Bitcoin
  • Bitcoin Cash
  • CashtoCode
  • DAI
  • directDebit+
  • Dogecoin
  • Ethereum
  • Flykk
  • LUXON
  • Perfect Money
  • STICPAY
  • USD Coin
  • USDT (Teather)
3
Rating
5 /5
Up to $500 cash
$50 in Bonus Bets!
T&C apply

New players can access the Welcome Offer upon registration. They have 7 days to deposit, wager, and claim rewards. A minimum deposit of $10 is required. Three deposit cards are available: the 1st offers up to $300 and 50 spins on “9 Masks of Fire”; the 2nd and 3rd offer up to $100 and 25 spins each. Winnings from spins are credited as real money. Players must wager their deposit 20 times to claim rewards. Game contributions vary, with slots contributing 100% and some games excluded. Players can decline the offer or let it expire.

  • Min deposit: $10
  • 10x wagering
  • Min odds: 1.8
  • Sports betting available
  • Live Casino Games
  • LeoSafePlay tools
Established
2012
Licence
AGCO, MGA, Ontario
Total Games
1500+
  • iDebit
  • Interac
  • Mastercard
  • Muchbetter
  • Neosurf
  • Visa
4
Rating
4.9 /5
UP TO C$150
IN FREE BETS
T&C apply

The Welcome Bonus Pack is available for your initial four deposits. To qualify for the bonus on each of these deposits, you must deposit a minimum of C$30.

  • All Top Events
  • Best Odds
  • Live Streams
  • Mobile Friendly
  • Sports betting
  • Top Providers
Established
2021
Licence
Curacao
  • Binance Pay
  • Bitcoin
  • eZeeWallet
  • Flexepin
  • Interac
  • Mastercard
  • MiFinity
  • Muchbetter
  • Neteller
  • Paysafe
  • Payz
  • Ripple
  • USDT (Teather)
  • Visa
  • Skrill
5
Rating
4.8 /5
Read review
C$240 FREE BETS
T&C apply

The casino’s welcome bonus is exclusively for new registrants. Players must be at least 18 years old. The initial deposit bonus matches 150% up to certain limits across various currencies, with a wagering requirement of 50 times the bonus amount. Only one welcome bonus is permitted per account, and it expires seven days after being awarded. Players must wager with a max bet of €5 or its currency equivalent until wagering requirements are met. If withdrawals are requested before wagering is complete, bonus and winnings are forfeited.

  • Mobile App
  • NHL, NBA, MLB, MLS available
Read review
  • Week bonuses
  • Cashback
  • Huge payment section
Established
2022
Licence
Curacao
Total Games
9000+
  • Interac
  • Visa
  • Mastercard
  • Muchbetter
  • Jeton
  • eZeeWallet
  • MiFinity
  • Bitcoin
  • Bitcoin Cash
  • AstroPay
  • Ethereum
  • Litecoin
  • Ripple
  • TRON
  • USDT (Teather)

Betting on the Kentucky Derby in Canada 

Ontario
Ontario’s competitive iGaming market, launched in April 2022, cannot offer betting on horse races. Despite some operators providing the option, they ultimately had to drop it upon entering the province’s regulated market. 

That said, the only platforms that legally allow Ontario residents to bet on the Kentucky Derby are owned by Woodbine Entertainment Group, a racetrack operator based in Toronto. These online platforms are Dark Horse Bets and HPIbet.

Canada (All Other Provinces)
Those looking to bet on horse racing online in Canada will find some options; however, how they align with regulations is complex. Sportsbook platforms operating throughout Canada may provide opportunities for horse racing betting, but, as mentioned, Ontario-regulated platforms do not.

That said, players outside Ontario can bet on offshore horse racing betting sites accepting customers from Canada.

How to Bet on the 2024 Kentucky Derby

Betting on the Kentucky Derby is a thrilling experience, and there are numerous ways to place your bets. After all, betting on the Kentucky Derby is more complex than just picking a horse to win. 

Many trusted sites provide odds for numerous online wagers, offering handicappers a multitude of exhilarating bets. If you reside in Canada and “how to bet on the Kentucky Derby” is one of your concerns, below is how to sign up with a reputable sportsbook and start betting on the prestigious event.

  1. Step 1 Find a Reputable Sportsbook Offering Kentucky Derby Betting

    Begin by researching different sportsbooks that offer Kentucky Derby betting markets, and choose one that is trustworthy, reliable, and meets your betting needs. You can also choose from our recommendations for the best online sports betting in Canada.

  2. Step 2 Create an Account

    Once you have chosen a sportsbook, you must create an account by providing information such as your name, address, and email. You must also create a username and a secure password to access your betting account.

  3. Step 3 Make an Initial Deposit

    You must make an initial deposit into your account to start placing bets. You will find a variety of payment methods, such as credit cards, debit cards, bank transfers, or e-wallets. Sportsbooks also offer welcome bonuses, such as deposit match bonuses, risk-free bets, and enhanced odds, to help players get started.

  4. Step 4 Browse the Available Betting Options

    Once you have funds in your account, go to the horse racing section and browse the betting options available for the Kentucky Derby. Some common types of bets include win, show, place, exacta, trifecta, and superfecta. Each bet has its own odds and payouts; hence, it is crucial to conduct your own research and understand the different options before placing wagers.

  5. Step 5 Place Your Bets

    Once you have chosen the bets you want to place, add them to your bet slip and confirm your wagers. Always double-check your selections before submitting your bets because you cannot take them back once they are confirmed.

  6. Step 6 Tune Into the Kentucky Derby Live

    On the day of the Kentucky Derby, it is a good idea to watch the race live and check if your bets have won. If you are lucky enough to win, your winnings will be credited to your sportsbook account. Since betting is about fun, you should watch the race and experience the thrill of the event yourself. 

Sign Up to Snatch Casino
Snatch Casino Registration

Types of Horse Racing Bets: Kentucky Derby Bets

Straight Bets

Straight bets in Kentucky Derby online betting are suitable for bettors to get started. These bets, i.e., win, place, and show, allow players to pick a horse to either win outright or finish first, second, or third. 

Win
If you know that a thoroughbred will secure a win in the first leg of the Triple Crown, consider selecting it to win the race outright.
Place
You also have the option to bet on a horse to finish either first or second in a race. However, this constitutes a smaller payout. This bet type provides some flexibility in case of a photo finish.
Show
Consider a show bet if you have confidence in your gelding, colt, or filly to place in the top three. Such a bet offers reduced odds, so remember that the payout will be notably smaller, too.

Exotic Bets

Straight bets can be thrilling, but if you are looking to up the excitement level of Kentucky Derby betting, exotic bets are the way to go. Such bets require you to choose two or more horses and have the potential for larger payouts. These wagers are more complex and challenging to win, but the potential rewards make them worthwhile. 

Exacta
An exacta bet in horse racing involves bettors selecting two horses to finish in first and second place in the exact order. This type of bet is more challenging than a win or place bet but will offer a greater reward if the bettor comes out on top.
Trifecta
A trifecta bet is where the bettor selects three horses to finish in first, second, and third place in the exact order. To predict the top three runners in a horse race is extremely difficult.
Superfecta
To win a superfecta bet during the Kentucky Derby, you must accurately select four horses to finish in first, second, third, and fourth place in the exact order.
Super High-Five
A super high-five bet asks bettors to choose the exact order of the top five horses in a race. While this is the most challenging, the potential reward is substantial. If you were to place a bet using this bet type, please be realistic and don’t expect to win that often.

Reading Kentucky Derby Odds 

Even though some US-based sportsbook platforms use American odds (or moneyline odds), odds for the Kentucky Derby are usually shown as fractions.

To understand fractional odds such as 10/1, take the numerator, divide it by the denominator, and subsequently multiply the outcome by the chosen bet amount. For instance, if you bet CAD 50 on Rich Strike, the victor of the 2022 Kentucky Derby, at his final odds of 80-1, you would have received a total of CAD 5,000. Below is how the formula goes:

50/1= CAD 5,000

50 x CAD 50=$5,000

Fractional odds are straightforward to calculate when the denominator is 1. That said, some may include 2 or even a 5. You will use the same formula to determine your potential winnings in such a case. For instance, placing a CAD 50 bet on 9/5 odds means receiving $90 upon winning, as explained below:

9/5=1.8

 1.8 x CAD 50= CAD 90

2024 Kentucky Derby Top Contenders Breakdown 

Below, we will list the top contenders for the 2024 Kentucky Derby:

Forte (Scratched) 

Tapit Trice 

Tapit Trice is a 3-year-old colt and has raced from 2022 to 2023. Bred in Kentucky by Gainesway Thoroughbreds Ltd. and trained by Todd A. Pletcher, he has raced for Gainesway Stable and Whisper Hill Farm LLC. Tapit Trice has secured victories at Gulfstream Park, Tampa Bay Downs, Aqueduct, Keeneland, and Gulfstream Park.

kentucky derby horse betting
Kentucky Derby Horses Leaderbord

Practical Move (Scratched)

Angel of Empire

Angel of Empire is a 3-year-old colt who has competed from 2022 to 2023. Bred in Pennsylvania by Forgotten Land Investment Inc. and Black Diamond Equine Corp., he was trained by Brad H. Cox. Angel of Empire has secured wins at Oaklawn Park, Fair Grounds, and Horseshoe Indianapolis. 

Derma Sotogake

Derma Sotogake is a 3-year-old chestnut colt bred at Shadai Farm in Chitose, Japan. Trained by Hidetaka Otonashi, Derma Sotogake has raced for Hiroyuki Asanuma. Derma Sotogake has emerged victorious at Santa Anita Park, Meydan (UAE), King Abdulaziz Racecourse (KSA), and Churchill Downs.

Kingsbarns

Kingsbarns is a 3-year-old colt who has competed in 2023. Bred in Kentucky by Parks Investment Group, LLC, Kingsbarns was trained by Todd Pletcher and has competed for Spendthrift Farm LLC. Kingsbarns has collected wins at Tampa Bay Downs, Gulfstream Park, and Fair Grounds.

History of the Kentucky Derby

The Kentucky Derby is a sports event with a rich history. The event has been held since 1875 and is the longest-running sporting event in the US. The race is exclusive to the most talented three-year-olds and is fondly called “the most exciting two minutes in sports.” The Kentucky Derby takes place at the Churchill Downs Racetrack. The prestigious event has seen some of the sport’s most talented win, such as American Pharaoh, Smarty Jones, California Chrome, and last year’s winner, Lucky Strike.

It is also interesting to note that Bob Baffert has won the famous contest under the Twin Spires six times, making him the most successful horse racing trainer. In 2018, Justify made history by becoming the first-ever horse in over a century since Apollo (1882) to win the Grade 1 prize, breaking the “Apollo Curse.” This is especially interesting, considering Justify had not run as a two-year-old.

kentucky derby Canada
Kentucky Derby in Canada

Kentucky Derby Past Champions 

The Kentucky Derby is among the most prestigious horse races worldwide, producing unforgettable moments and champions. Below are the past winners of the Kentucky Derby in recent years:

  • Rich Strike (2022): Trained by Eric Reed, Rich Strike won in a time of 2:02:61
  • Mandaloun (2021): Trained by Brad Cox, Mandaloun won in a time of 2:01.02.
  • Authentic (2020): Trained by Bob Baffert, Authentic won in a time of 2:00.61.
  • Country House (2019): Trained by Bill Mott, Country House won in a time of 2:03.93.
  • Justify (2018): Trained by Bob Baffert, Justify won in a time of 2:04.20.
  • Always Dreaming (2017): Trained by Todd Pletcher, Always Dreaming won at 2.03:59.

Kentucky Derby Betting Tips

If you are looking to bet on the Kentucky Derby, below are some Kentucky Derby betting tips to help you get the most out of your experience:

Research Everything Surrounding the Race
No matter what you are betting on, it is always best to do some prior research. Take a close look at each horse, examining its season performance and reading up on what pundits and experts have to say. This approach can help you narrow down the field and give you a solid list of the top 5 or 10 contenders for the Kentucky Derby, allowing you to make informed bets and wagers.
Tune into Previous Races
One way to gain insight into each horse’s performance level is by watching and studying their previous races. This can help you understand if a horse is building momentum with increasingly strong performances or if its racing execution is plateauing or on the downswing, even if its record is better than other horses. By capturing these subtleties and nuances from previous races, you can make more informed decisions when placing your bets.
Stay True to Your Budget
Set aside a fixed amount of money you will use to bet on the Kentucky Derby, and most importantly, stay true to it. Going beyond your means or risking more than you are willing to lose could negatively affect your financial well-being. Setting boundaries and sticking to them is crucial to ensure your financial stability.
Consider the Jockeys
The jockey behind the reins undoubtedly plays a crucial role in the horse’s performance. Before dismissing any horse, find out who its jockey will be. A skilled jockey can make a significant difference in a horse’s performance; hence, it is essential to take the time to discover the right person for the job: research famous jockeys and their past accolades to identify who can bring out a horse’s full potential.
Do Not Fixate on the Favorite
It is crucial to consider that upsets exist and that even favourites have lost races in the past, despite what the experts, your intuition, or beliefs may say. Betting only on the favourite might only sometimes be the best strategy since there is a good chance another horse will come out on top (deservedly so). It is best to spread your bets across several contenders with a good shot at winning so you do not risk losing everything if one horse does not perform as expected. Also, you shouldn’t always ask which horse is the favourite to win; you need to ask which horse provides the best value.

Kentucky Derby FAQ

Can you legally bet on horses online?

If you want to bet on horse racing online, you have Canadian options, though how they line up with regulations is complicated. Sites that work across Canada will tend to have options for horse racing betting online, though Ontario regulated sites won’t have them.

Where and when is the Kentucky Derby held?

The Kentucky Derby race will be held on Saturday, May 6, 2024, at Churchill Downs in Louisville, Kentucky.

Is betting on the Kentucky Derby safe?

Yes. It is safe to bet on the Kentucky Derby as long as you place your wagers with a reputable sportsbook.

How many horses compete in the Kentucky Derby?

The Kentucky Derby field is restricted to 20 runners. Compared to the numerous horse races that occur daily around the globe, this is considered to be a large number of runners.