Kentucky Derby Sets New Betting Records
At the 151st Kentucky Derby, the racehorse "Sovereign" won by a margin of 1.5 horse lengths, setting a new historical high in betting amounts. According to the latest data from Churchill Downs Incorporated (CDI), the total betting amount for this Derby reached $349 million, an increase of 8.9% from last year's 150th anniversary event.
Key Data Highlights:
The single-day betting amount for the Kentucky Derby reached $234.4 million, up 11.2% year-over-year
Total betting amount for the race week exceeded $473.9 million, surpassing last year's record of $446.6 million
Official betting partner TwinSpires performed notably:
Single-day betting amount of $108 million (+17%)
Betting amount during the Derby period was $73 million (+19.9%)
CDI CEO Bill Carstanjen stated: "We are proud to continue achieving great results after the 150th milestone year, which lays a solid foundation for the future development of the event."
Concerns Over Profit Performance
Despite the record-high betting amounts, the company anticipates that the adjusted EBITDA will be $2-4 million less than last year. Analysts believe this may be related to increased operational costs of the event.
It is noteworthy that on the eve of the event, the Kentucky Derby had reached a partnership agreement with Ford Motor Company, designating it as the exclusive automotive partner until 2029. This long-term partnership could provide more financial support for future event operations.
This year's event attracted 147,000 spectators, reaffirming the Kentucky Derby's status as the most influential horse racing event in the United States. With the continuous increase in betting amounts, the commercial value of the event is expected to rise further.
