Strike wins Kentucky Derby at 80-1 odds, race generates $273.8m in wagers

Wagers placed this year exceeded the previous high set in 2019.

Churchill Downs Incorporated’s (CDI) Longines Kentucky Oaks at Churchill Downs Racetrack has reached its highest handle to date. Despite less than favorable weather, Secret Oath captured the Lilies in the 148th running of the race.

CDI reached another milestone with its all-source wagers on the Kentucky Derby Day program reaching the highest of all time. Rich Strike won the 148th running of the Kentucky Derby at 80-1 odds. 

All-sources wagers on the full Kentucky Oaks day race card reached a total of $74.6m, 37% higher than 2021 and 24% higher than wagers in 2019. Wagers from all sources on the Kentucky Oaks race rose by 40% compared to last year and totaled $24.3m.

Secret Oath won the Longines Kentucky Oaks by 2 lengths with a final time of 1.49.44 and at odds of 4-1. This was the first win for jockey Luis Saez.

Churchill Downs President Mike Anderson said: “Today we celebrate Secret Oath and her connections. The 148th Kentucky Oaks will be remembered as a triumphant return to a full-capacity crowd. We thank the fans, sponsors, horsemen, horseplayers and all participants who contributed to today’s record-breaking success.”

All-sources wagers from the Kentucky Derby Day program reached $273.8m, reflecting an increase of 17% increase compared to 2021 and 9% compared to the previous milestone in 2019 of $250.9m.

Wagers on the Kentucky Derby race from all sources climbed to $179.0m, a rise of 15% from 2021 and 8% from 2019. Wagers from this year included Japan’s handle of $8.3m.

CDI CEO Bill Carstanjen commented: “We are deeply grateful to all of the fans of the Kentucky Derby around the world who once again made this an amazing and memorable experience. We expect the Kentucky Derby Week adjusted EBITDA to reflect another record with $7m to $9m of growth over the prior record in 2019.”

CDI is a racing, online wagering and gaming entertainment company. It currently operates historical racing machines HRMs in Kentucky. The company plans to operate in Virginia and Louisiana, pending the closing of the acquisition of Peninsula Pacific Entertainment and the completion of HRM expansion plans for CDI’s 14 off-track betting facilities.

CDI is also the host of the annual Kentucky Derby.

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