Kentucky Derby 2016 betting advice, tips, and more
By Staff
Need Kentucky Derby 2016 betting advice? Look no further. We’ll tell you exactly how to spend your money this Saturday for the run for the roses.
Note: This is a guide for newbs who don’t want to spend hours learning about horse betting. We’re not going to cover every type of bet or scenario. We just want to give you a few basic bets you can understand so you can lay down some stress-free coin this weekend.
Not everyone is is a handicapper. In fact, most folks don’t gamble very often. Yeah, we know you won $30 from a slot machine that time you went to Vegas for your bro’s bachelor party but you also spent $50 to get a lap dance from a stripper named “Bunny” and paid $150 for the five shots of tequila you bought the crew.
In short, if you’re reading this, you probably have no idea what you’re doing when it comes to putting money down on the ponies.
That’s ok, really.
There will be a lot of what handicappers call “dumb money” put down on the Kentucky Derby. What that means is that folks who don’t normally bet races decide to have a little fun and give it a try for the Derby. That means there is a large amount of cash being put on the table by people who don’t really know what they’re doing. Thus, popular races like the Derby offer the handicappers who do know what they’re doing an opportunity to win some easy money.
But we’re going to let you in on a little secret: nobody knows which horse is going to win or which order the field will finish.
Oh sure, there are betters out there operating with more knowledge than you. They might make more informed bets but in the end, not many people thought 50-1 shot Mine That Bird had a chance in hell of winning the Derby back in 2009 (hence the 50-1 odds) but those that did place a $2 bet on the longshot took home $103.20.
All right, time to get down to it. We’re going to tell you how to bet on the Derby so that you have a good time and don’t blow a bunch of coin.
Rules:
- Don’t spend more money than you can afford. This is supposed to be fun. Don’t ruin it by foolishly gambling away your electric bill.
- Understand that you are going to lose. That means chances are, every penny you bet is going to be gone by the end of the day.
How to bet:
Best way to bet is go to Twin Spires and sign up. They’re a legit betting service. All you need to do is deposit some money, select your race and wager. If you win, they’ll cut you a check. It is totally legal. Just remember to pay taxes on your winnings or Uncle Sam will come for you.
Sign up early because the interface is a little confusing for newbs. Don’t wait until they’re walking the horses to try to make your bets or you will be rushed and make mistakes.
What does all this crap mean:
Straight Bet:
You are betting on the horse you think will win. Period. If the horse you pick has 50-1 odds, that means you need to put down a buck to win $50. Pretty simple.
Trifecta:
In a trifecta, you are trying to pick the horses that will finish in first, second and third place.
Superfecta:
Like the trifecta, except you are trying to pick the first four horses.
Show Bet:
You are picking one horse to finish either first, second or third. In short, you are picking a horse to place.
Box:
If you box a bet, that means you are betting all possible combinations. For instance, say you pick horses 2, 4 and 6 to hit the trifecta. If you bet a straight up trifecta, you need those horses to finish in the exact order you chose. If you box that bet, then you are betting on all possible first through third finishing orders for those three horses. It will be more expensive but it gives you more combinations.
What should you bet:
The smart thing to remember is that the harder the bet, the more money you have a chance to win. So betting on the odds on favorite means that you will need to put down a lot of money to win anything. A small bet won’t return you much at all.
The cool thing about horse racing, however, is that you can win a lot of money by betting very little. Trifectas are hard to hit, so a small $1 bet on could pay out a couple of hundred bucks. Even more, depending on a bunch of factors we won’t bore you with. Superfectas are even harder to predict so those pay out even higher.
So what should you bet?
If you are broke or just want to win:
If all you care about is winning, regardless of the amount you will win, place a few small bets on some favorites. Take $10 and put a buck or two on all the horses with the best odds. You won’t win much money but you will have fun cheering on your horses.
You can also bet on a couple of horses to place. This increases
If you want a chance at big money:
There are a couple of ways you can do this. You can put some money on some longshots. Throw $10 bets on horses with 50 to 1 odds. Just understand you are essentially buying a lottery ticket. Those horses have those odds for a reason.
Another strategy is to make a bunch of small trifecta or superfecta bets. For instance, drop $20 on 20 different trifecta bets. This gets you 20 combinations. Stick mostly to horses that have pretty good odds of winning as your top three/four.
Personally, we love the trifecta bet. Picking the top three finishers is difficult but not impossible. Even last year, when American Pharaoh was an overwhelming favorite, a $1 trifecta bet paid out $101. That’s worth dropping $20 on, no?
In the end, bet what you can afford and go into this with the goal of having fun. Putting a wager on the race will give you a rooting interest and make “the fastest two minutes in sports” all the more exciting.
Just bet responsibly.