Churchill Reports Record Kentucky Derby Day Wagering

After returning to normal following two years of pandemic-impacted business, the 148th edition of the Kentucky Derby Presented by Woodford Reserve (G1) race, day, and week established a number of wagering records.

Topping the achievements, all-sources betting on the May 7 Kentucky Derby card at Churchill Downs reached $273.8 million, a 17% increase over last year's $233 million and a 9% bump over the previous record of $250.9 million from 2019.

After the conclusion of Saturday's card, Louisville-based Churchill Downs Inc. reported strong business results for Kentucky Derby week—the cornerstone of the gambling company's racing division. Derby week handle also set a record at $391.8 million, up 25% from last year's $314.6 million and up 14% over the previous record of $343 million in 2019. 

Betting on this year's 20-horse Derby race totaled $179 million, up 15% from last year's $155.4 million—a 19-horse edition—and up 8% over the previous record of $166.5 million in 2019. Churchill noted this year's wagering included $8.3 million wagered in Japan as Japan-trained Crown Pride  finished 13th in the race.

Combined all-sources handle of $348.4 million reported for both the Longines Kentucky Oaks (G1) and Derby days is a record as well, bettering the prior record of $311.1 million in 2019.

The crowd of 147,294 was a return to normal after COVID-19 led to a fanless 2020 Derby in September and a deliberately limited 51,838 last year. The record of 170,513 was established in 2015.

Churchill also reported its TwinSpires.com advance-deposit wagering service seeing $67.4 million in wagering on Churchill Downs races for the Derby Day program, an 8% increase over the previous record of $62.7 million last year. The Derby race handle of $44 million for TwinSpires was up 8% over last year's then-record $40.8 million.

All of the results will combine to significantly improve the company's earnings before taxes and other factors are taken into account, the company said in a release.

"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," CDI CEO Bill Carstanjen said in a statement in the release. "We expect the Kentucky Derby Week Adjusted EBITDA (earnings before taxes and other factors) to reflect another record with $7 to $9 million of growth over the prior record in 2019."