After returning to normal after two years of business hit by the pandemic, the 148th edition of the Kentucky Derby presented by Woodford Reserve (G1), day and week setting several betting records.
Top of the line, bet all sources on the May 7 Kentucky Derby card at Churchill Downs reached $273.8 million, up 17% from last year’s $233 million and up 9% from the previous record of $250.9 million from 2019.
Following the end of the card Saturday, Churchill Downs Inc. Louisville-based company reported strong results for the week of Kentucky Derby — the cornerstone of the gambling company’s racing division. The Derby week handle also set a record with $391.8 million, up 25% from last year’s $314.6 million and up 14% from the previous record of $343 million in 2019.
Bets on this year’s 20-horse Derby totaled $179 million, up 15% from last year’s $155.4 million — the 19-horse edition — and up 8% from the previous record of 166. $0.5 million in 2019. Churchill noted that this year’s bet includes $8.3 million bets in Japan as a Japan-trained. Crown Pride 13th place in the race.
Total revenue from all sources of $348.4 million reported for both the Longines Kentucky Oaks (G1) and Derby days was also a record, beating the previous record of $311.1 million on 2019.
The crowd of 147,294 people returned to normal after COVID-19 led to the fan-less 2020 Derby in September, and 51,838 people intentionally last year. The record 170,513 was set in 2015.
Churchill also reported its TwinSpires.com pre-stakes betting service with $67.4 million in bets on Churchill Downs races for the Derby Day program, up 8% from the previous record of 62.7 million dollars last year. Derby handlebars cost TwinSpires $44 million, up 8% from last year’s record $40.8 million.
All of the results will combine to significantly improve the company’s earnings before accounting for taxes and other factors, the company said in a statement.
“We are incredibly grateful to all the Kentucky Derby fans around the world who made it once again a memorable and amazing experience,” said CDI CEO Bill Carstanjen. said in a statement. “We expect Kentucky Derby Week adjusted EBITDA (earnings before taxes and other factors) to reflect another record with $7 to $9 million in growth from the previous record in year 2019.”
